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(I-SoftwareNews.Com, December 07, 2017 ) The smart infrastructure technology has significantly changed over time, and various disciplines such as building automation for facility and emergency response management, building energy optimization, parking management, and in-building communication systems, are now being widely adopted. Furthermore, Green building initiatives have taken up a center stage across many countries, especially across the Europe, North America, and APAC region. Focus on reduction in energy consumption and concerns over proliferation of environmental wastes are the major driving factors for development of smart cities. Transportation is another major growing focus area during the forecast period. The global Smart cities market accounted for US$ 773.19 Bn in 2016 and is expected to grow at a CAGR of 19.08% during the forecast period 2017 – 2025, to account for US$ 3651.49 Bn in 2025.
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Technology integration helps cities to improve efficiency, enhance their economic potential, reduce costs, open the door to new business and services, and improve the living conditions of its citizens. A key condition for value creation through integration is the compatibility of technologies; which is best achieved through common and consensus-based standards that ensure interoperability.
Smart City Market Key Players
The report segments the global smart cities market as follows:
Global Smart Cities Market – By Industry Verticals
Global Smart Cities Market – By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SAM)
Rest of SAM
View Complete Report at http://www.theinsightpartners.com/reports/smart-city-market-research-report
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