Global Smart City Market 2016-2020
About Smart City
A smart city uses ICT, including mobile networks, to improve the quality of livelihood in a sustainable way. A smart city combines and shares disparate comprehensive data sets captured by intelligently-connected infrastructure, people, and vehicles, to generate new insights. It also provides ubiquitous services that enable citizens to access information about city administrative services, improve the efficiency of city operations, enhance security levels, fuel economic activity, and even increase resilience to natural disasters.
Technavio’s analysts forecast the global smart city market to grow at a CAGR of 19.65% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart city market for 2016-2020. To calculate the market size, the report considers the revenue obtained from components such as smart security, smart infrastructure, smart energy, smart governance, smart education, smart building, smart healthcare, and smart mobility.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart City Market 2016-2020
Technavio recognizes the following companies as the key players in the global smart city market: ABB, Cisco, Ericsson, GE, Google, Huawei Technologies, IBM, Microsoft, Oracle, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Accenture, Aeris Communications, Alcatel-Lucent, Digi International, HCL, Hitachi, Honeywell International, HP, Jasper Technologies, KORE Wireless, LG, Mercedes-Benz, NEC, Novatel Wireless, NTT DATA, SAP, Sierra Wireless, Telefonica, Vodafone, and Wipro.
Commenting on the report, an analyst from Technavio’s team said: “Implementation of digital signage in M2M retail business will be a key trend for market growth. Retailers worldwide have started using M2M-based digital signage to provide users with essential information about their new product launches, the latest additions to product lines, and discounts. M2M-based digital signage is used to increase customer engagement by sending targeted advertisements based on customer information, including location, gender, and age. It is also used to display video messages at the point of sale. M2M-based digital signage delivers information on a real-time basis. It provides better features than traditional print-based displays. It contributes to improving the brand image of retailers. Also, it helps retailers save time and money and improve customer outreach.”
According to the report, increased installation of smart meters will be a key driver for market growth. Smart meters offer a wide range of interactive and intelligent solutions. They allow the consumers to effectively manage energy resources by providing the consumption details at every point in time. They send the relevant details of home energy use to the energy supplier such that the electricity bill can be sent without having to check the reading on the home meter physically.
Further, the report states that multiple areas, including healthcare, automotive, and smart homes, involve the use of a wide range of proprietary solutions, which increases the challenge of interoperability. The M2M or IoT value chain consists of many players specializing in different services, applications, platforms, devices, and middleware. Collaborative processing of operations from different players across the value chain is required to deliver a competent solution.
ABB, Cisco, Ericsson, GE, Google, Huawei Technologies, IBM, Microsoft, Oracle, Schneider Electric, Siemens, Accenture, Aeris Communications, Alcatel-Lucent, Digi International, HCL, Hitachi, Honeywell International, HP, Jasper Technologies, KORE Wireless, LG, Mercedes-Benz, NEC, Novatel Wireless, NTT DATA, SAP, Sierra Wireless, Telefonica, Vodafone, and Wipro.
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