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Smart City Market to grow at a CAGR of 23% by 2024 |Increase in IT Consolidation & Modernization to Boost the Market Growth| 17000+ Technavio Reports

·3 min read

NEW YORK, Oct. 26, 2021 /PRNewswire/ -- Technavio's latest research report on the Smart City Market offers a comprehensive analysis of new product launches, the latest trends, drivers, and challenges. The smart city market size is expected to increase by USD 2118.14 billion, at a CAGR of 23% from 2020 to 2024.

Attractive Opportunities in Smart City Market by Application and Geography - Forecast and Analysis 2020-2024
Attractive Opportunities in Smart City Market by Application and Geography - Forecast and Analysis 2020-2024

For more Insights on Smart City Market -Download a free sample now!

Market Dynamics

Factors such as the decrease in prices of connected devices and increase in IT Consolidation & modernization will boost the market growth.

Company Profiles

Some of the companies covered in this report are ABB Ltd., Accenture Plc, Alphabet Inc., Cisco Systems Inc., HP Inc., International Business Machines Corp., LG Electronics Inc., Microsoft Corp., Oracle Corp., and SAP SE, etc.

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Market Segmentation

  • By Application, the market is classified into smart governance and education, smart energy, smart healthcare, smart security, and others. The smart city market share growth by the smart governance and education segment will be significant.

  • By Geography, the market is classified as APAC, Europe, MEA, North America, and South America. Europe will have the largest share of the market.

Related Reports -
Smart Workplace Market -The smart workplace market size has the potential to grow by USD 98.37 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period. Download a free sample report now!

Enterprise Data Storage Market -The enterprise data storage market has the potential to grow by USD 1.14 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 4.67%. Download a free sample report now!

Smart City Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 23%

Market growth 2020-2024

USD 2118.14 billion

Market structure

Fragmented

YoY growth (%)

22.52

Regional analysis

APAC, Europe, MEA, North America, and South America

Performing market contribution

Europe at 40%

Key consumer countries

Germany and Spain

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Accenture Plc, Alphabet Inc., Cisco Systems Inc., HP Inc., International Business Machines Corp., LG Electronics Inc., Microsoft Corp., Oracle Corp., and SAP SE

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)
Technavio (PRNewsfoto/Technavio)
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