LONDON--(BUSINESS WIRE)--According to the market research report released by Technavio, the global smart city ICT infrastructure market is expected to accelerate at a CAGR of over 17% during the forecast period. Rising need for smart cities is one of the key factors triggering the growth of the market.
This research report titled ‘Global Smart City ICT Infrastructure Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global smart city ICT infrastructure market into the following regions:
In 2016, the Americas accounted for 41% of the global market and is projected to decline to 36% by 2021, exhibiting almost 5% decrease in market share.
Global smart city ICT infrastructure market: Top emerging trend
Partnership among countries to develop smart cities is an emerging trend in the enterprise application space. For instance, in April 2017, Kuwait announced an agreement with South Korea to build a USD 4 billion smart city in Kuwait. The construction of the smart city will begin in 2019 under the supervision of public and private sector companies in South Korea such as Hyundai Architects, Engineers Associates, and POSCO A&C. The prospective city, named South Saad Al-Abdullah, is expected to be more than 15,000 acres and will provide accommodation to more than 20,000 families. In the future, Kuwait has plans to build nine smart cities in the country. Therefore, the emergence of smart cities in the future is expected to boost the growth of the overall global market.
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Technavio’s report provides expert market research on the following topics:
- Market Outline
- Global Smart City ICT Infrastructure Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, EMEA)
- Key leading countries
- Market segmentation by component (smart grid, smart home and building, smart water network, smart healthcare, smart education, smart security, smart transport)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Cisco Systems, IBM, Oracle, Huawei, AT&T)
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