Smart Cities Market to 2025 by Industry Verticals (Smart Infrastructure, Smart Governance, Smart Transportations, Smart Energy and Smart Education) Global Analysis and Forecast
The global Smart cities market accounted for US$ 773.19 Bn in 2016 and is expected to grow during the forecast period 2017 - 2025, to account for US$ 3651.49 Bn in 2025. Key trend which will predominantly effect the market in coming year is smart cities market consolidation due to growing competition. Furthermore, the market is anticipated to witness significant growth in market owing to the increasing urbanization.
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Smart Cities market by industry vertical is segmented into smart healthcare, smart infrastructure, smart energy, smart governance and smart education. The smart cities are structures of services and these services are intangible offerings that enables the residents of a city to interact within the city systems or with other people. The services delivered by smart cities are designed in a way that they are easy to access, efficient, responsive, sustainable from environment's perspective and openly available. There are a wide range of services covered by the smart city concept. A smart city comprises smart mobility that further includes smart transportation, intelligent road networks, public transport, connected cars, smart parking, etc. Further, the smart city services comprises of smart healthcare, smart buildings, smart energy, smart education and smart governance.