(PRWEB) September 27, 2013
According to a new market research report, “Smart Cities Market – Worldwide Projects, Regional Adoption & Transformations, and Market (by Smart Homes; Building Automation – Physical Security, Life Security, Facilities Management; Energy Management – Smart Grid; Industrial Automation; Citizen Services – Healthcare, Education, Water; Smart Transportation – Traffic Management, Supervision, Passenger Information, Ticketing, Parking Management; Security – Urban Security, Critical Infrastructure Protection, ID Management, Cyber Security) Forecast 2012 - 2016”, the total Smart cities market is expected to reach more than $1 trillion by 2016, at a CAGR of 14.2%.
Browse 75 market tables and in-depth Table of Content on “Smart Cities Market”.
Early buyers will receive 10% customization on this report.
Globally, there are some 700 cities, each with population exceeding 500,000 and are growing faster than the average growth rate of cities. This opens up the market for industry players to grow their business in new and emerging smart cities. The infrastructure investment for these cities is forecasted to be $30 trillion to $40 trillion, cumulatively, over the next 20 years.
With growing emphasis on reducing carbon emission and the fact that conventional cities form a major source of CO2 emission, planning a smart city becomes a viable option for governments and municipal authorities. Deploying technologies such as smart grids, smart metering for energy management; electric vehicle and traffic management with smart transportation and smart security are high growth areas within smart cities.
The overall smart cities market, valued at $526.3 billion in 2011,
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