Global Smart City ICT Infrastructure Market
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<strong>Global</strong> <strong>Smart</strong> <strong>City</strong> <strong>ICT</strong> <strong>Infrastructure</strong> <strong>Market</strong> to Exhibit<br />
17.12% CAGR 2016-2020 thanks to Rapid Industrialization<br />
Worldwide<br />
<strong>Market</strong>ResearchReports.Biz has announced addition of new report “ <strong>Global</strong> <strong>Smart</strong> <strong>City</strong><br />
<strong>ICT</strong> <strong>Infrastructure</strong> <strong>Market</strong> to Exhibit 17.12% CAGR 2016-2020 thanks to Rapid<br />
Industrialization Worldwide” to its database.<br />
<strong>Market</strong>ResearchReports.biz has announced the addition of a market research study, titled<br />
“<strong>Global</strong> <strong>Smart</strong> <strong>City</strong> <strong>ICT</strong> <strong>Infrastructure</strong> <strong>Market</strong> 2016-2020,” to its vast collection of research<br />
reports. The research study offers a detailed analysis of the global smart city <strong>ICT</strong> infrastructure<br />
market, focusing on the key growth drivers, restraints, product segmentation, major geographical<br />
segments, and the competitive landscape. The historical data and future projections have been<br />
discussed in the research study to give a clear understanding of the market.<br />
As per the research study, the global market for smart city <strong>ICT</strong> infrastructure is projected to<br />
register a 17.12% CAGR between 2016 and 2020. The growing demand for a technologyenabled<br />
lifestyle, increased adoption of wireless technology, and rapid urbanization are some of<br />
the prominent factors anticipated to propel the smart city <strong>ICT</strong> infrastructure market across the<br />
globe. In addition, the availability of self-help smart applications, evolution of the Internet of<br />
Things, and growing interoperability standards are projected to fuel the growth of the market in<br />
the next few years. However, high cost, security concerns, and complexity of data management<br />
are the major challenges for the market players.<br />
By components, the global market for smart city <strong>ICT</strong> infrastructure has been classified into smart<br />
security, smart building, smart grid, smart transport, smart education, smart healthcare, and smart<br />
water network. In 2015, the smart grid segment led, accounting for an 18% share in the global<br />
smart city <strong>ICT</strong> infrastructure market. The rapid growth of this segment can be attributed to the<br />
growing demand for sustainable development. In addition, the rigid government policies and<br />
growing awareness regarding energy conservation are some of the other factors fuelling the<br />
growth of the smart grid segment across the globe.<br />
By geography, the smart city <strong>ICT</strong> infrastructure market has been segmented into EMEA, APAC,<br />
and the Americas. Among these regions, the Americas is estimated to account for the largest<br />
share in the overall market and projected to remain in the topmost position throughout the<br />
forecast period. The Americas is estimated to reach a value of US$263 bn by the end of 2020,<br />
owing to the rapid industrialization and government initiatives to promote the smart city concept.<br />
Furthermore, the APAC market for smart city <strong>ICT</strong> infrastructure is estimated to grow at a<br />
significant rate in the next few years.<br />
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The global market for smart city <strong>ICT</strong> infrastructure is high competitive in nature owing to the<br />
presence of several well-established players in the market. In some regions, many local and
egional players lead the market. However, large companies have the benefit of spending an<br />
enormous amount on research and development activities in order to introduce new technologies<br />
in the market. Some of the players active in the global smart city <strong>ICT</strong> infrastructure market are<br />
Siemens, IBM, Huawei, Cisco, AT&T, NTT Communications, Verizon Communications, China<br />
Mobile, Vodafone, Honeywell, Oracle, Hitachi, and ABB.<br />
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