About Smart Communities
Unprecedented urban development, growing populations, and climate changes globally are putting pressure on governments, local communities, and agencies to enhance the quality of public services. Cities worldwide are expanding and such expansion is generating demand for advanced infrastructure (such as better healthcare, transportation systems, and renewable energy solutions). Recurring instances of extreme climatic conditions and shrinking natural and non-renewable resources are raising conservation concerns. Therefore, cities and local communities need to design frameworks and policies that enable smart, sustainable, economic, and environmental development.
Technavio’s analysts forecast the global smart communities market to grow at a CAGR of 18.26% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart communities market for 2016-2020. To calculate the market size, the report considers the revenue generated from IT solutions for smart communities offered by vendors in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Communities Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Smart Communities Market: Cisco, IBM, Schneider Electric, Siemens and Toshiba
Other Prominent Vendors in the market are: ABB, Accenture, Ericsson, ESRI, Hitachi, HP, Huawei, Microsoft, NEC, NTT DATA, Oracle, SAP, and Wipro.
Commenting on the report, an analyst from Technavio’s team said: “The IoT adoption among numerous projects to provide seamless connectivity for M2M communications is increasing gradually. Smart and connected city projects are implementing IoT devices for smart technology and smart IT infrastructure. IoE, which is considered a super set of IoT technologies, is used to connect people, processes, things, and data through a centralized system that integrates IT systems and applications.”
According to the report, the future prospects of smart cities depend on the quality of connectivity provided by service providers. Therefore, innovation in the development of ICT infrastructure is acting as a catalyst in the execution of connected community projects. To make ICT infrastructure viable, governments are also investing in modern ICT solutions (such as Wi-Fi and LTE) to validate their smart city projects.
Further, the report states that the use of advanced IT solutions has raised many security concerns centered on data privacy and security. Hackers are continuously trying to breach electronic security systems of cloud-based solutions to steal private and confidential data.
Cisco, IBM, Schneider Electric, Siemens, Toshiba, ABB, Accenture, Ericsson, ESRI, Hitachi, HP, Huawei, Microsoft, NEC, NTT DATA, Oracle, SAP, Wipro.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook