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The Global Smart Cities Market Will Post a CAGR of 16.6 Percent Through 2019, Thanks to Rapid Urbanization: TechNavioThe Global Smart Cities Market is expected to post a CAGR of 16.6 percent from 2014-2019, according to a new report from research firm TechNavio. About the Report According to the latest report by TechNavio, rapid industrialization and urbanization of cities has led to various engineering, social, economic, management and environmental challenges. To overcome these challenges, transformation into smart cities has become a necessity. "With growing populace in urban areas and increased migration from rural areas to cities, there is a need for efficient infrastructure and planning to accommodate the upsurge in urban populations. Therefore, transformation of existing infrastructure is required, which is expected to propel the market during the forecast period," says Faisal Ghaus, Vice President of TechNavio. Additionally, the TechNavio report emphasizes growing public private partnerships that play a crucial role in addressing financial issues, and also improve the infrastructure required for market development. Equipment manufacturers, service providers and internet service providers like ABB, GE, Toshiba, Accenture, Capgemini, Atos, SAP (News - Alert) and Microsoft are actively participating, thereby establishing a strong foothold in the market by providing integrated solutions for smarter cities. "Companies like IBM, Cisco Systems, Siemens, Hitachi (News - Alert) and Schneider Electric that specialize in smart technologies are now collaboratig with governments to facilitate better integration of all technologies," says Ghaus. Key Information Covered in the Report:
TechNavio currently has more than 3000 market research reports on a huge range of topics, including 100+ reports on the smart tech market: If you are interested in more information, please contact our media team at [email protected]. |
