The Report Global Smart Cities Market (2018-2023) gives a detailed analysis on the global market for smart cities. The report gives market size data for the global blockchain technology market, based on applications: smart cities, smart factories, connected healthcare, connected vehicles, smart grids, and other, based on end users industries manufacturing, energy and utility, IT and telecommunication, healthcare and life sciences, consumer appliances, and transportation and logistics. The report covers market trends and market drivers and challenges for the global edge computing market. The report will help in formulating product marketing strategy based on industry and economic factors. The top players in the market are CISCO Systems Inc., Hitachi Ltd., IBM Corporation, General Electric (GE), Schneider Electric, Huawei Technologies Co., Ltd., Oracle Corporation, Siemens AG, Ericsson and ABB Ltd.
A smart city takes a lot of planning- be it terms of high – tech experts, academics, business visionaries and civic leaders. A recent study put the concept of smart cities as follows: For all the dissections and analyses of what makes smart cities great, “they do not sufficiently account for the most important part of the city itself: its citizens.” Smart cities have been able to produce considerable results and are able to stand out due to their leverage of technology to improve ways of life. How the smart cities excel from other cities depend on mobility, health, safety and productivity. These smart cities serve as a harbinger for other cities not just on a global scale, but to the very basic human level where individual lives have been changed.
There is a rising demand for smart cities due to the growing urban population, limited natural resources and environmental sustainability. Smart cities surpass other cities in terms of leveraging technology in various domains like tourism, environmental sustainability or education. Smart cities solutions are on the rise due to rapid urbanisation, new technological advancements across various domains, obsolete infrastructure and improved quality of life.
Smart cities catalyses fast industry growth using novel technologies through initiatives of national and regional governments, business and local bodies. With combined efforts from all these parties, projects are implemented to improve the quality of life. The challenged that are faced in developing smart cities solutions include high financial investments, lack of systematic approach to address problems and need for consolidation of different sectors and domains. However, these markets are growing at a fast rate and is driven by high participation from industrial parties and available technology.
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