Smart Cities Market Analysis By Application (Smart Energy Management, Smart Security, Industrial Automation, Smart Healthcare, Smart Buildings, Smart Homes, Smart Transportation) And Segment Forecasts To 2020

Published: November 2014 | Report Code: 978-1-68038-270-9 | Report Format: Electronic (PDF)

Industry Insights

On account of increase in the advancement of new technologies, demographic shifts, and urbanization, manufacturers have realized the need for innovative approaches to city operations and service delivery. The need for integrated and complex citywide solutions is expected to drive and foster convergence in the smart cities space. Rapid advances in building information technologies as well as using these technologies to integrate and add value to the provision of urban services require authorization for sustainable development of new methods. This may involve the integration of organizations, software, and hardware that would improve the competitiveness of the environment in which cities operate.

Rapid industrialization and increasing urban population have created the need to incorporate smart cities concept in order to address the arising challenges. However, smart cities technologies have been developed to address a range of issues such as public safety, street lighting, urban mobility, water management and energy management. These solutions can be supported by general development in areas including cloud computing, data analytics, sensor networks and wireless communications. The opportunities for the development of smart cities using mobile and other platforms over different time spans is expected to be enormous; however, integrating individualized and local technologies that are expected to proliferate would be a real challenge.

The primary focus of smart cities market is reducing dependence on non-renewable resources for fuel and improving energy efficiency, which is expected to favor market growth through the forecast period. In addition, the need for green infrastructures, big cyber data and the associated need for security, energy consciousness and increasing urbanization are estimated to positively impact the smart cities market. Lack of stakeholder engagement and funding & capital expenditure and investments in legacy systems are expected to restrain the smart cities market over the next six years.

The primary focus of smart cities market is reducing dependence on non-renewable resources for fuel and improving energy efficiency, which is expected to favor market growth through the forecast period. In addition, the need for green infrastructures, big cyber data and the associated need for security, energy consciousness and increasing urbanization are estimated to positively impact the smart cities market. Lack of stakeholder engagement and funding & capital expenditure and investments in legacy systems are expected to restrain the smart cities market over the next six years.

Application Insights

Based on application, the smart cities market is segmented into smart transportation, smart energy management, smart security, industrial automation, smart healthcare, buildings and smart homes. Rise in solutions such as passenger information systems, guidance system, parking management, integrated supervision system, ticketing management and traffic management is expected to favor smart transportation segment over the forecast period. Integration of communication infrastructure and intelligent systems are highly demanded as it can assist in the management of power distribution grids in an optimized way. Hence, smart grids could be a major opportunity to merge ICT and power technologies.

Regional Insights

North America accounted for the largest market share in 2013. In Asia Pacific, high demand for smart cities is expected in China and India due to increasing environmental and energy instability. The smart cities market in Europe is expected to be promising for global market growth through the forecast period owing to increasing investments in infrastructure to improve public facilities. Increased demand for smart transport and energy management has considerably driven regional market growth.

Competitive Insights

Key industry participants enter into mergers and acquisitions, as well as contracts and strategic agreements in order to sustain in the market. The global smart cities market comprises companies such as Oracle, Siemens, Intel, Honeywell, Cubic, Cisco, ABB, Accenture, Alcatel-Lucent, and IBM. Oracle provides a modular multi-channel solution for development and innovation measures in order to increase their customer base. The company has developed Oracle’s city platform solution that consolidates complex IT infrastructures and supports future operational systems.

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