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Smart Cities Market Projected to $1,266.58 Billion by 2019 - New Report by MarketsandMarkets

(PRWEB) August 04, 2014

The report “Smart Cities Market (Smart Home, Building Automation, Energy Management, Industrial Automation, Smart Healthcare, Smart Education, Smart Water, Smart Transportation, Smart Security), Services) - Worldwide Market Forecasts and Analysis (2014 - 2019)”, defines and segments smart cities into various sub-segments of technologies, solutions, services and regions with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints of this market with insights on trends, opportunities, and challenges in North America, Europe, Middle East and Africa, Asia Pacific (including Japan), and Latin America.

Browse 77 market data tables and 33 figures spread through 279 pages and in-depth TOC on“Smart Cities Market”.

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The study reports that the global smart cities market is expected to grow from $654.57 billion in 2014 to $1,266.58 billion by 2019, at an estimated Compound Annual Growth Rate (CAGR) of 14.1% from 2014 to 2019.

The main long-term drivers of smart cities are linked with the economic growth of a region. In case of mature markets, the regions boast with high engaged citizens, sophisticated and multi-layered government and access to high innovations. In case of emerging markets, the region focuses on developing more smart cities as they lack proper infrastructure facilities while competing for global attention.

The enormous migrating population flocking the urban areas is the greatest driving force for the growth of technologically mapped smart cities. Growing awareness about the environmental concerns and the need for ecologically sustainable infrastructure has led to the evolution of smart cities. The smart cities market exhibits a tremendous growth in the near future. Rapid adoption traits can be seen in nations like the U.S., China, Japan, South Korea, U.A.E. and the Netherlands. The research report analyzes global adoption trends, future growth potentials, emerging technologies, key drivers, competitive outlook, restraints, opportunities, market ecosystem, value chain, and best practices in this market.

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Smart cities report consists of the future trends in different smart cities sub-markets. It also presents a detailed analysis, market sizing and forecasting for these emerging sub-markets. The report is segmented into solutions like smart homes, smart industries, smart resource management, smart utilities, smart transportation, smart security, and many more. The solutions include eco-friendly infrastructure and smart grid layers which would help reduce greenhouse gas emissions. Rational resource management and its distribution would ensure the fulfillment of residential and commercial energy demands. New wireless network technologies like Z-Wave and Insteon and new automation standards would become the emerging technological trends for building, industry and transportation automation.

Middle East and Africa (MEA) and Asia-Pacific (APAC) are expected to be the highest revenue generating regional market segments with the highest market size. These regional markets are also expected to exhibit the highest growth rates. Considerable market growths will be seen in the North American (NA) and European smart cities market.

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MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals; including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, telecommunications and IT, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, aerospace & defense.

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