Smart City Market Company Overview, Industrial Statistics, Regional Economy, Development and Forecast to 2027

Global Smart City Market to witness a disruption driven by covid 19

The smart city market is estimated reach USD 1933 billion by 2025. The smart cities market is predicted to expand as a result of rising public safety demands, urban population growth, and government initiatives. Video surveillance, DNA phenotyping, and real-time licence plate and facial recognition are commonly employed for public safety in smart cities, emphasising the need for monitoring to safeguard people’ safety.

High need for Smart City in volatile climatic conditions, standardization of Smart City goods and high investment in defense sectors to ensure national security are the main drivers for the growth of Smart City units worldwide. In most developing economies, however, budget constraints and lack of awareness act as major limiting factors for the development of the Smart City market. The Smart City market is characterized by rapid change, wide range of technologies, and demand for standardized products that provide both opportunities and threats to vendors by stepping up the competition. Most of the major vendors on the market are following the new product launch / product enhancement strategy followed by acquisition to lead in the Smart City market.

Smart City Market Competitive Landscape:

Honeywell Corporation (the US), Huawei Technologies Co Ltd. (China), Siemens AG (Germany), Cisco Systems Inc. (US), Schneider Electric SE (France), IBM Corporation (US), Siemens AG (Germany), AT&T Inc. (US), Ericsson (Sweden), Oracle Corporation (US), Hitachi Corporation (Japan), Microsoft Corporation (US)

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Regional Assessment

The global business regional analysis was conducted in four major regions including Asia Pacific , North America, Europe and the rest of the world. The European region will dominate the market for Smart City due to Growing demand for natural gas for generating power and heating spaces. The region needs better transport facilities for gas as the current physical pipelines have become outdated and require high maintenance and upgrade costs. Asia-Pacific is the fastest growing region, since the region’s developing nations are the net importers of natural gas. China itself was the largest consumer of natural gas in 2017, with industrialization and urbanization projects expected to increase consumption. The region’s emerging markets, such as Indonesia and Pakistan, are also experiencing high demand for natural gas, which brings opportunities for Smart City in Asia Pacific.

Competitive Analysis

The inventions being discovered or attempted in the market are also considered to provide further opportunities for growth in the coming period. The effect of global currencies is expected to have a significant effect on market growth. The upsurge in exports is expected to create constructive situation for expansion in the coming period. The bearing of global trade policies by various administrations is expected to further enhance the market expansion potential in the forecast period. The inclusion of certain elements of functionality in production facilities is likely to create better supply potential for the overall market. The streamlining of the distribution channels is expected to create better supply chains and lead to a more positive effect on the global market. The momentum of change in the market is predicted to create new opportunities for growth in the forecast period

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Wafer Type

Gallium Nitride

SiC

Silicon

Others

Component

Thyristor

Gate Turn-Off Transistor (GTO)

MCT (MOS-Controlled Thyristor)

Silicon Controlled rectifier (SCR)

AC/DC Converter

Static Switches

MOSFET

Others

Wafer Size

450mm

200mm

300mm

150mm

More than that

Application

Defense and Aerospace

Telecommunications and IT

Utilities and Energy

Automotive

Transportation

Industrial

Consumer Electronics

Others

Covid 19 Analysis

Due to a rise in phishing activities, COVID-19 has substantially increased the adoption of cloud infrastructure and services. In addition, COVID-19 has significantly increased the security budget, which has resulted in a large increase in cloud infrastructure and services. According to the findings of a study conducted by Microsoft and published in August 2020, 36% of the total 800 respondents said that the budget for cybersecurity had risen as a consequence of the pandemic outbreak. Additionally, 42 percent of those who answered the survey said that the company altered its personnel by adding more security experts.

Drivers and Restraints

The Smart City market is driven by numerous factors such as increasing construction FDI in the Asia Pacific region, and policy reforms and policies that support them. Governments across all regions are observed, their construction sector supported, and created. The emerging economies are the ones that put in various reforms and regulations in particular to fuel their infrastructure growth and the real estate market. Such expansion is slated to increase scaffolding’s market growth. The Smart City market has constraints such as fluctuating prices of raw materials and slower economic growth, which hinder market development.

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Table of contents:

1 EXECUTIVE SUMMARY

1.1 GLOBAL SMART CITY MARKET, BY COMPONENT

1.2 GLOBAL SMART CITY MARKET, BY ORGANIZATION SIZE

1.3 GLOBAL SMART CITY MARKET, BY DEPLOYMENT

1.4 GLOBAL SMART CITY MARKET, BY END-USERS

1.5 GLOBAL SMART CITY MARKET, BY REGION

2 MARKET INTRODUCTIONS

2.1 DEFINITION

2.2 SCOPE OF THE STUDY

2.3 RESEARCH OBJECTIVE

2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS

3.2 PRIMARY RESEARCH

3.3 SECONDARY RESEARCH

3.4 MARKET SIZE ESTIMATION

3.5 FORECAST MODEL

3.6 LIST OF ASSUMPTIONS

4 MARKET DYNAMICS

Continued…

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