HOME Top Market Reports Smart Cities Market by Smart Home, Intelligent Building Automation, Energy Management, Smart Healthcare, Smart Education, Smart Water, Smart Transportation, Smart Security, & by Services - Worldwide Market Forecasts and Analysis (2014 - 2019)

Smart Cities Market by Smart Home, Intelligent Building Automation, Energy Management, Smart Healthcare, Smart Education, Smart Water, Smart Transportation, Smart Security, & by Services - Worldwide Market Forecasts and Analysis (2014 - 2019)

By: marketsandmarkets.com
Publishing Date: January 2015
Report Code: TC 3071

 

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Smarter infrastructures can reduce environmental impact and offer citizens a better quality life. As increased population transcends into urban settings, there increases a need for more urbanized areas to live in. As cities expand their services, management and governance become increasingly complex. Thus, transformation of the cities into smart cities is needed to address the social, economic, engineering, and environmental challenges. Today, the smart cities market is being driven by the enthusiasm of city leaders. Mayors and other city executives have seized on the smart cities concept as a rallying point for the technological, commercial, and social innovation needed to meet the challenges and opportunities facing their communities. The main long-term drivers for the smart cities market are linked with the economic growth of a region. The emerging regions focuses on developing more smart cities as they lack proper infrastructure facilities while competing for global attention. The developed regions boast with high engaged citizens, sophisticated and multi-layered government and access to high innovations. Smart cities bring together technology, government and society to enable the following characteristics: smarter economy, smarter mobility, smarter environment, smarter people, smarter living, and smarter governance. A smarter city would encompass aspects of smart transportation, security, energy management, carbon emissions, and sustainability as the ideal option for decision-makers and authorities. Smart technologies are environmental friendly encouraging greener technologies and provide operational ease making them the engines of the smart cities market.

The overall smart cities market has been defined as the spending by Small and Medium Businesses (SMBs) and large enterprises on smart cities solutions and services for planning and developing the infrastructure for the future. The report spans the overall structure of the smart cities market. It provides premium insights that can help the smart cities solution vendors and system integrators to identify the needs for modern infrastructure. North America, Asia-Pacific, and Europe have the highest adoption rate in the smart cities market, and regions such as Latin America along with Middle East and Africa offer a lot of opportunities for the vendors where majority of the countries are yet to expansively adopt smart cities solutions.

The smart cities report analyzes global adoption trends, future growth potential, key drivers, restraints, opportunities, challenges, and best practices in the smart cities market. The report also examines growth potential market sizes and revenue forecasts across different regions. The major solution providers profiled in the smart cities report include ABB, Alcatel Lucent, Cisco, Ericsson, GE, Honeywell, Hitachi, IBM, Siemens, and Schneider Electric among others.

Scope of the Report:

Smart cities market is a broad study of the global market and forecasts the market sizes and trends in the following sub-segments.

Smart Cities market size:

  • Smart Home
  • Intelligent Building Automation
  • Smart Energy Management
  • Citizen Services
  • Smart Healthcare
  • Smart Education
  • Smart Water Management
  • Smart Security Systems
  • Smart Transportation

Smart Cities market size by region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Available Customization:

  • Product Matrix and detailed analysis of products and services of major players
  • Regional breakdown into country-level smart cities markets
  • U.S., Canada, China, Japan, Australia, U.K., Germany, France, Mexico, Brazil, Saudi Arabia, U.A.E, South Africa
  • Detailed profiling and analysis of additional market players

Table of Contents

1 Introduction (Page No.-17)
    1.1 Objectives of the Study
    1.2 Smart Cities: Market Definition
    1.3 Smart Cities: Market Scope
           1.3.1 Markets Covered
           1.3.2 Year
           1.3.3 Currency
    1.4 Limitations
    1.5 Stakeholders

2 Research Methodology (Page No.-21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions and Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No.-29)

4 Premium Insights (Page No.-32)
    4.1 Attractive Market Opportunities in Smart Cities Market
    4.2 Smart Cities Market: By Type
    4.3 Smart Cities: Intelligent Building Automation
    4.4 Smart Cities Market Across Various Regions
    4.5 Smart Cities: Life Cycle Analysis, By Region, 2014

5 Market Overview (Page No.-36)
    5.1 Introduction
    5.2 Smart Cities: Evolution
    5.3 Smart Cities: Market Segmentation
           5.3.1 Smart Cities Market
           5.3.2 Smart Homes Market Segmentation
           5.3.3 Intelligent Building Automation Market Segmentation
           5.3.4 Smart Transportation Market Segmentation
           5.3.5 Citizen Service Market Segmentation
           5.3.6 Smart Security System Market Segmentation
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Growing Demographics and Urbanization
                    5.4.1.2 Environmental Concerns and Green Technology
                    5.4.1.3 Demand for Smarter Electricity Production and Distribution
           5.4.2 Restraints
                    5.4.2.1 Capital Expenditure and Funding in Smart Cities
                    5.4.2.2 Transformation Downtime
                    5.4.2.3 Big Data Concerns
           5.4.3 Opportunities
                    5.4.3.1 Smart Cities Across the Globe
                    5.4.3.2 Smart Grid and Transportation Technologies
           5.4.4 Challenges
                    5.4.4.1 Cyber Security Concerns
                    5.4.4.2 Socio-Political Factors Hampering Smart Cities Development

6 Industry Trends (Page No.-47)
    6.1 Introduction
    6.2 Smart Cities: Value Chain Analysis
    6.3 Strategic Benchmarking
    6.4 Smart Cities: PEST Analysis
           6.4.1 Political Factors
           6.4.2 Economic Factors
           6.4.3 Social Factors
           6.4.4 Technological Factors
    6.5 Smart Cities Projects
           6.5.1 Amsterdam Smart City, the Netherlands
                    6.5.1.1 Goals
                    6.5.1.2 Investments
           6.5.2 Pecan Street Project, Austin, TX, U.S.
                    6.5.2.1 Overview
                    6.5.2.2 Consortium
           6.5.3 Chengdu Smart City, China
                    6.5.3.1 Overview
                    6.5.3.2 Partnerships
           6.5.4 Knowledge City, Guangzhou, China
                    6.5.4.1 Overview
                    6.5.4.2 Major Projects
           6.5.5 Smarter Dubuque, IA, U.S.
                    6.5.5.1 Overview
                    6.5.5.2 Focus Area
           6.5.6 Masdar City, Abu Dhabi, UAE
                    6.5.6.1 Overview
           6.5.7 Plan IT Valley, Paredes, Portugal
                    6.5.7.1 Overview
                    6.5.7.2 Investment and Timeline
           6.5.8 Smart Santander, Spain
                    6.5.8.1 Overview
           6.5.9 Songdo IBD, Seoul, South Korea
                    6.5.9.1 Overview
                    6.5.9.2 Investment and Timeline
           6.5.10 SmartCity
                     6.5.10.1 Overview
                     6.5.10.2 Smartcity Dubai
                     6.5.10.3 Smartcity, Kochi, India
                     6.5.10.4 Smartcity Malta
           6.5.11 Yokohama Smart City, Japan
                     6.5.11.1 Overview
                     6.5.11.2 Investment and Timeline
           6.5.12 Tianjin Eco-City, China
                     6.5.12.1 Overview
                     6.5.12.2 Investment and Timeline
           6.5.13 Meixi Lake District, China
                     6.5.13.1 Overview
                     6.5.13.2 Investment and Timeline
           6.5.14 Nanjing Eco-City, China
                     6.5.14.1 Overview
                     6.5.14.2 Investment and Timeline
           6.5.15 Smartgrids, Scotland

7 Global Smart Cities Market Analysis, By Smart Home (Page No.-60)
    7.1 Introduction
    7.2 Smart Homes By Product
           7.2.1 Home Security
           7.2.2 Lighting Control
           7.2.3 Entertainment
           7.2.4 Energy Management
           7.2.5 Home Health
           7.2.6 HVAC
           7.2.7 Others
    7.3 Smart Home By Service
           7.3.1 System Integrators
           7.3.2 Support and Maintenance
    7.4 Smart Home By Technology
           7.4.1 Zigbee
           7.4.2 Z-Wave
           7.4.3 Knx
           7.4.4 Insteon
           7.4.5 X10
           7.4.6 Lonworks
           7.4.7 C-Bus
           7.4.8 Other Technologies

8 Global Smart Cities Market Analysis, By Intelligent Building Automation  (Page No.-71)
    8.1 Introduction
    8.2 Intelligent Building Automation By Physical Security
           8.2.1 Explosive Detectors
           8.2.2 Screening Solutions
           8.2.3 Video Surveillance
           8.2.4 Access Control
           8.2.5 Car Park Management System
           8.2.6 Others
    8.3 Intelligent Building Automation By Life Security
           8.3.1 Fire Security
           8.3.2 Emergency Response
           8.3.3 Others
    8.4 Intelligent Building Automation By Facility Management
           8.4.1 HVAC Control System
           8.4.2 Lighting Management System
           8.4.3 Energy Management System
           8.4.4 Elevator Control
           8.4.5 Others

9 Global Smart Cities Market Analysis, By Energy Management (Page No.-83)
    9.1 Introduction
    9.2 Hardware and Software
    9.3 Smart Grid
    9.4 Sensors
    9.5 Communication Network

10 Global Smart Cities Market Analysis, By Citizen Services (Page No.-88)
     10.1 Introduction
     10.2 Smart Healthcare
     10.3 Smart Education
     10.4 Smart Water Management

11 Global Smart Cities Market Analysis, By Smart Transportation System  (Page No.-94)
     11.1 Introduction
     11.2 By Solution
             11.2.1 Traffic Management System
             11.2.2 Integrated Supervision System
             11.2.3 Passenger Information System
             11.2.4 Ticketing System
             11.2.5 Parking Management System
     11.3 Service
             11.3.1 System Integrators
             11.3.2 Business Services
             11.3.3 Cloud Services

12 Global Smart Cities Market Analysis, By Smart Security System (Page No.-102)
     12.1 Introduction
     12.2 Smart Security By Solution
             12.2.1 Urban Security
             12.2.2 Critical Infrastructure Protection
                       12.2.2.1 CNI Energy Utilities
                       12.2.2.2 CNI Ports, Airport/Rail
             12.2.3 Id Management
             12.2.4 Cyber Security
     12.3 Services
             12.3.1 System Integrators
             12.3.2 Business Services
             12.3.3 Managed Services

13 Geographic Analysis (Page No.-112)
     13.1 Introduction
     13.2 North America (NA)
             13.2.1. U.S.**
             13.2.2. Canada**
     13.3 Europe
             13.3.1. U.K.**
             13.3.2 Germany**
             13.3.3 France**
     13.4 Asia-Pacific (APAC)
             13.4.1 China**
             13.4.2 Japan**
             13.4.3 Australia**
     13.5 Latin America (LA)
             13.5.1 Mexico**
             13.5.2 Brazil**
     13.6 Middle East and Africa (MEA)
             13.6.1 Kingdom of Saudi Arabia**
             13.6.2 U.A.E.**
             13.6.3 South Africa**

**Market data for other countries can be provided upon client request

14 Competitive Landscape (Page No.-121)
     14.1 Overview
     14.2 Smart Cities Market: Competitive Situation and Trends
             14.2.1 Agreements, Partnerships, and Collaborations
             14.2.2 Mergers and Acquisitions
             14.2.3 New Product Developments
             14.2.4 Geographic Expansions

**Product Matrix which gives a detailed comparison of product portfolio of each company

15 Company Profiles (Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*  (Page No.-131)
     15.1 Introduction
     15.2 Cisco Systems
     15.3 Ericsson
     15.4 Hitachi
     15.5 IBM
     15.6 Siemens AG
     15.7 ABB Ltd.
     15.8 Alcatel-Lucent
     15.9 General Electric (GE)
     15.10 Honeywell International
     15.11 Schneider Electric

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, Swot Analysis, Mnm View Might Not Be Captured in Case of Unlisted Companies
**Detailed analysis and profiling of additional market players

16 Appendix (Page No.-165)
     16.1 Smart Cities Market: Discussion Guide
     16.2 Available Customizations
     16.3 Related Reports

**Can be taken upon Customization. 10% free Customization is available
 
List of Tables  (83 Tables)

Table 1 Assumptions of the Research Study
Table 2 Global Smart Cities Market Size, By Type, 20122019 ($Billion)
Table 3 Rapid Global Urbanization is Majorly Propelling the Growth of the Smart Cities Market
Table 4 Heavy Investments and Expenditures Hampering the Growth of the Smart Cities Market
Table 5 New Opportunities Rising in Smart Grids and Transportation With Rise in Smart Cities
Table 6 Large Data Over Networks Could Result in Major Cyber Security Challenges
Table 7 Smart Home Market Size, By Type, 2012-2019 ($Billion)
Table 8 Smart Home Market Size, By Product Type, 2012-2019 ($Billion)
Table 9 Smart Home Security Market Size, By Region, 2012-2019 ($Billion)
Table 10 Smart Home Lighting Control Market Size, By Region,2012-2019 ($Billion)
Table 11 Smart Home Entertainment Market Size, By Region, 2012-2019 ($Billion)
Table 12 Smart Home Energy Management Market Size, By Region,2012-2019 ($Billion)
Table 13 Smart Home Health Market Size, By Region, 2012-2019 ($Billion)
Table 14 Smart Home HVAC Market Size, By Region, 2012-2019 ($Billion)
Table 15 Other Smart Home Products Market Size, By Region,2012-2019 ($Billion)
Table 16 Smart Home Market Size, By Service, 2012-2019 ($Billion)
Table 17 System Integrators Market Size, By Region, 2012-2019 ($Billion)
Table 18 Support and Maintenance Market Size, By Region, 2012-2019 ($Billion)
Table 19 Intelligent Building Automation Market Size, By Type,2012-2019 ($Billion)
Table 20 Intelligent Building Automation Market Size, By Physical Security, 2012-2019 ($Billion)
Table 21 Explosive Detectors Market Size, By Region, 2012-2019 ($Billion)
Table 22 Screening Solutions Market Size, By Region, 2012-2019 ($Billion)
Table 23 Video Surveillance Market Size, By Region, 2012-2019 ($Billion)
Table 24 Access Control Market Size, By Region, 2012-2019 ($Billion)
Table 25 Car Park Management System Market Size, By Region,2012-2019 ($Billion)
Table 26 Other Physical Security System Market Size, By Region,2012-2019 ($Billion)
Table 27 Intelligent Building Automation Market Size, By Life Security,2012-2019 ($Billion)
Table 28 Fire Security Market Size, By Region, 2012-2019 ($Billion)
Table 29 Emergency Response Market Size, By Region, 2012-2019 ($Billion)
Table 30 Other Life Security Systems Market Size, By Region,2012-2019 ($Billion)
Table 31 Intelligent Building Automation Market Size, By Facility Management, 2012-2019 ($Billion)
Table 32 HVAC Control System Market Size, By Region, 2012-2019 ($Billion)
Table 33 Lighting Management System Market Size, By Region,2012-2019 ($Billion)
Table 34 Energy Management System Market Size, By Region,2012-2019 ($Billion)
Table 35 Elevator Control Market Size, By Region, 2012-2019 ($Billion)
Table 36 Other Facility Management Systems Market Size, By Region,2012-2019 ($Million)
Table 37 Energy Management Market Size, By Type, 2012-2019, ($Billion)
Table 38 Hardware and Software Market Size, By Type, 2012-2019 ($Billion)
Table 39 Hardware and Software Market Size, By Region, 2012-2019 ($Billion)
Table 40 Smart Grid Market Size, By Region, 2012-2019 ($Billion)
Table 41 Sensors Market Size, By Region, 2012-2019 ($Billion)
Table 42 Communication Network Market Size, By Region, 2012-2019 ($Billion)
Table 43 Citizen Services Market Size, By Type, 2012-2019 ($Billion)
Table 44 Smart Healthcare Market Size, By Application, 2012-2019 ($Billion)
Table 45 Smart Healthcare Market Size, By Region, 2012-2019 ($Billion)
Table 46 Smart Education Market Size, By Type, 2012-2019 ($Billion)
Table 47 Smart Education Market Size, By Type, 2012-2019 ($Billion)
Table 48 Smart Water Management Market Size, By Region, 2012-2019 ($Billion)
Table 49 Smart Transportation Market Size, By Type, 2012-2019 ($Billion)
Table 50 Smart Transportation Solution Market Size, By Type,2012-2019 ($Billion)
Table 51 Traffic Management System Market Size, By Region,2012-2019 ($Billion)
Table 52 Integrated Supervision System Market Size, By Region,2012-2019 ($Billion)
Table 53 Passenger Information System Market Size, By Region,2012-2019 ($Billion)
Table 54 Ticketing System Market Size, By Region, 2012-2019 ($Billion)
Table 55 Parking Management System Market Size, By Region,2012-2019 ($Billion)
Table 56 Smart Transportation Services Market Size, By Type,2012-2019, ($Billion)
Table 57 System Integrators Market Size, By Region, 2012-2019 ($Billion)
Table 58 Business Services Market Size, By Region, 2012-2019 ($Billion)
Table 59 Cloud Services Market Size, By Region, 2012-2019 ($Billion)
Table 60 Smart Security System Market Size, By Type, 2012-2019 ($Billion)
Table 61 Smart Security Solution Market Size, By Type, 2012-2019 ($Billion)
Table 62 Urban Security Market Size, By Vertical, 2012-2019 ($Billion)
Table 63 Urban Security Market Size, By Region, 2012-2019 ($Billion)
Table 64 Critical Infrastructure Protection Market Size, By Type,2012-2019 ($Billion)
Table 65 CNI Energy Utilities Market Size, By Region, 2012-2019 ($Billion)
Table 66 CNI Ports, Airport/Rail Market Size, By Region, 2012-2019 ($Billion)
Table 67 Id Management Market Size, By Region, 2012-2019 ($Billion)
Table 68 Cyber Security Market Size, By Type, 2012-2019 ($Billion)
Table 69 Cyber Security Market Size, By Region, 2012-2019 ($Billion)
Table 70 Smart Security Service Market Size, By Type, 2012-2019 ($Billion)
Table 71 System Integrators Market Size, By Region, 2012-2019 ($Billion)
Table 72 Business Services Market Size, By Region, 2012-2019 ($Billion)
Table 73 Managed Services Market Size, By Region, 2012-2019 ($Billion)
Table 74 Smart Cities Market Size, By Region, 2012-2019 ($Billion)
Table 75 NA: Smart Cities Market Size, By Type, 20122019 ($Billion)
Table 76 Europe: Smart Cities Market Size, By Type, 20122019 ($Billion)
Table 77 APAC: Smart Cities Market Size, By Type, 20122019 ($Billion)
Table 78 LA: Smart Cities Market Size, By Type, 20122019 ($Billion)
Table 79 MEA: Smart Cities Market Size, By Type, 20122019 ($Billion)
Table 80 Agreements, Partnerships, and Collaborations, 20122014
Table 81 Mergers and Acquisitions, 20122014
Table 82 New Product Developments, 20122014
Table 83 Geographic Expansions, 20122014


List of Figures  (31 Figures)

Figure 1 Smart Cities Market: Stakeholders
Figure 2 Research Design
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Limitations of the Research
Figure 6 Intelligent Building Automation has Claimed the Greatest market Size in 2014 30
Figure 7 Smart Cities Market Snapshot (2014 vs 2019): Intelligent Building Automation Constitutes the Largest Market
Figure 8 Large-Scale Implementation of Smarter Solutions Will Act as an Attractive Market Opportunity
Figure 9 Smart Water Management System to Grow at the Fastest Rate During the Forecast Period
Figure 10 Facility Management has Gained Greater Demand and Market Share in the Year 2014 33
Figure 11 Asia-Pacific to Be the Most Lucrative Smart Cities Market in 2014
Figure 12 APAC Smart Cities Market is Expected to Be in Its Exponential Growth Phase During the Forecast Period
Figure 13 Evolution of Smart Cities Market
Figure 14 Smart Cities Market Segmentation
Figure 15 Smart Homes Market Segmentation
Figure 16 Intelligent Building Automation Market Segmentation
Figure 17 Smart Transportation Market Segmentation
Figure 18 Citizen Service Market Segmentation
Figure 19 Smart Security System Market Segmentation
Figure 20 The Need for Environment-Driven Human Settlements for the Future Would Drive the Smart Cities Market
Figure 21 Smart Cities: Value Chain Analysis
Figure 22 Siemens Adopted All-Round Strategies for Technology Integration and Product Enhancement
Figure 23 Smart Home Services to Exhibit the Highest CAGR During the Forecast Period
Figure 24 Life Security Market to Exhibit the Highest CAGR During the Forecast Period
Figure 25 Smart Grid to Exhibit the Highest CAGR During the Forecast Period
Figure 26 Smart Water Management to Exhibit the Highest CAGR During the Period 2014-2019
Figure 27 Smart Transportation System Solution to Exhibit the Highest CAGR During Forecast Period
Figure 28 Smart Security Services to Exhibit the Highest CAGR During the Period 2014-2019
Figure 29 APAC has the Highest Market Growth Rate (CAGR) From 2014 to 2019
Figure 30 NA- Lucrative Region for Smart Cities Market
Figure 31 APAC to Exhibit the Highest CAGR in the Smart Cities market During the Period 2014-2019

The idea of smart cities came into formulation owing to the need to accommodate rapid urbanization of the age. Interest in smart cities continues to grow, driven by a range of socioeconomic and technological developments across the globe. It is due to the increasing number of smart cities that established suppliers from energy, transport, buildings, and government sectors are moving into the smart cities market, while startups are addressing a range of emerging opportunities in the same field.

Smart city is a concept aimed to provide a set of new generation services and infrastructure with the help of information and communication technologies (ICT). Smart cities are differentiated in terms of their governance, technological advances, economic benefits, and social and environmental standards. Rather than a traditional technology market, the smart cities should be seen as a complex confluence of several existing markets, as well as a driver for new, emergent solutions that span several traditional domains. The biggest test for smart cities now is to show that innovative pilot projects can be deployed at a citywide scale and replicated across cities. This will be vital to ensuring momentum in pathfinder cities and building confidence for other cities to embark on the same journey. It will also be necessary to convince commercial partners and other stakeholders in the smart cities market that these are economically viable models that will provide long-term returns for citizens and investors.

Planning smart cities becomes a viable option for governments and municipal authorities as the emphasis on reducing carbon emissions is growing due to the fact that conventional cities form a major source of CO2 emissions. 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. Thus, smart transportation, smart security and smart energy management are considered to be the most important components in smart cities. As citizens and governments are becoming more environment conscious, there is a push for tougher regulations aimed at reducing carbon footprint, thus, driving the market. Time and resources management benefits achieved through smarter technologies is another major advantage that smart cities have over traditional infrastructures.

As we observe the increasing adoption of smart technologies in smart cities, the associated services market are also expected to grow exponentially. The smart cities services market comprises of traditional services (maintenance, repair, replace, upgrades or operations outsourcing), advanced services (consulting and planning) and software services (business analytics, cloud computing and others). Software adoption within smart cities indicates a visible trend of the power behind data integration that binds disparate systems. Big players such as IBM and Siemens have tapped this potential significantly to establish leadership in the smart cities market. We also observe tier 1 infrastructure players such as Ericsson, ABB, Hitachi, and Schneider Electric and leading technology vendors such as Cisco to have established a significant market presence through large scale deployments across smart cities.

Major migration trends from the rural towards the urban regions could be seen due to the rapid growth in population and the growing employment opportunities in the urban areas. Thus, in order to support the growing urbanization, the need for transformation of urban infrastructure gets intensified. This factor would serve as the main driver for the smart cities market in the near future. The growing environmental concerns across the globe and the need for smarter resources are also considered to be one the major drivers for the smart cities market. The project funding and the capital expenditures required for such large-scale deployment of technology are extremely high. Therefore, this factor is expected to hinder the growing smart cities market. The transformational downtime as well as the big data generated in the smart cities routine operations are considered to be some serious concerns serving as significant restraints for the smart cities market.

The report includes an in-depth study of the market trends, market sizing, competitive mapping, and market dynamics of the smart cities market. The industry trends, drivers, and opportunities in the smart cities market distinctly indicate a noteworthy growth in the next 5 years. The report spans the overall structure of the smart cities market. It also provides premium insights that can help the solution vendors and system integrators to identify the needs for modern infrastructure in the global smart cities market. The smart cities market is segmented into smart home, intelligent building automation, smart energy management, smart healthcare, smart education, smart water management, smart transportation system, and smart security system.

The global smart cities market is segmented by regions into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. North America, Asia-Pacific, and Europe have the highest adoption rates in the smart cities market, while regions such as Latin America along with Middle East and Africa offer a lot of opportunities for the vendors where majority of the countries are yet to expansively adopt smart cities solutions. Some of the major solution providers in the smart cities market include ABB, Alcatel Lucent, Cisco, Ericsson, GE, Honeywell, Hitachi, IBM, Siemens, and Schneider Electric among others.

The global smart cities market is expected to grow from $411.31 Billion in 2014 to $1,134.84 Billion by 2019, at a CAGR of 22.5% during the forecast period of 20142019.

Global Smart Cities Market Size, by Type, 2012 - 2019 ($Billion)

Smart Cities Market

Sources: Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

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