Dublin, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The "Smart Cities - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Smart Cities Market to Reach $2.8 Trillion by 2027

Amid the COVID-19 crisis, the global market for Smart Cities estimated at US$680.7 Billion in the year 2020, is projected to reach a revised size of US$2.8 Trillion by 2027, growing at a CAGR of 22.1% over the period 2020-2027. Hardware, one of the segments analyzed in the report, is projected to record a 19.6% CAGR and reach US$1.3 Trillion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 23.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $206.5 Billion, While China is Forecast to Grow at 25.6% CAGR

The Smart Cities market in the U.S. is estimated at US$206.5 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$402.5 Billion by the year 2027 trailing a CAGR of 25.6% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.5% and 20.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 24.5% CAGR.

Select Competitors (Total 187 Featured)

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/16z1bc

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