Smart Cities

Smart City Market 2020-2024 | Decrease in Prices of Connected Devices Will Lead to a Progressing CAGR of 23%

[January 20, 2021]

Technavio has been monitoring the smart city market and it is poised to grow by USD 2118.14 billion during 2020-2024, progressing at a CAGR of 23% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Request a free sample report

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Technavio has announced its latest market research report titled Global Smart City Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Smart City Market 2020-2024 (Graphic: Business Wire)

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Accenture Plc, Alphabet Inc., Cisco Systems (NewsAlert) Inc., HP Inc., International Business Machines Corp., LG Electronics Inc., Microsoft Corp., Oracle Corp., and SAP SE are some of the major market participants. Although the decrease in prices of connected devices will offer immense growth opportunities, the high cost of upgrading smart grids will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Decrease in prices of connected devices has been instrumental in driving the growth of the market.

Smart City Market 2020-2024 : Segmentation

Smart City Market is segmented as below:

  • Application
    • Smart Governance And Education
    • Smart Energy
    • Smart Healthcare
    • Smart Security
    • Others
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41110

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Smart City Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our smart city market report covers the following areas:

  • Smart City Market size
  • Smart City Market trends
  • Smart City Market industry analysis

This study identifies the proliferation of smart city projects in emerging economies as one of the prime reasons driving the smart city market growth during the next few years.

Smart City Market 2020-2024: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Smart City Market 2020-2024, including some of the vendors such as ABB Ltd., Accenture (NewsAlert) Plc, Alphabet Inc., Cisco Systems Inc., HP Inc., and International Business Machines Corp. Backed with competitive intelligence and benchmarking, our research reports on the Smart City Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Smart City Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist smart city market growth during the next five years
  • Estimation of the smart city market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart city market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart city market vendors

Table Of Contents :

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application placement
  • Smart governance and education – Market size and forecast 2019-2024
  • Smart energy – Market size and forecast 2019-2024
  • Smart healthcare – Market size and forecast 2019-2024
  • Smart security – Market size and forecast 2019-2024
  • Others – Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe – Market size and forecast 2019-2024
  • North America – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver – Demand led growth
  • Volume driver – Supply led growth
  • Volume driver – External factors
  • Volume driver – Demand shift in adjacent markets
  • Price driver – Inflation
  • Price driver – Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ABB Ltd.
  • Accenture Plc
  • Alphabet Inc.
  • Cisco Systems Inc.
  • HP Inc.
  • International Business Machines Corp.
  • LG Electronics Inc.
  • Microsoft Corp.
  • Oracle Corp.
  • SAP (NewsAlert) SE

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Source: https://www.tmcnet.com/usubmit/2021/01/20/9292376.htm

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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