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Smart Cities Market to Grow Significantly by Proactive Government Initiatives and Increased Adoption of IoT SolutionsPORTLAND, Oregon, October 9, 2018 /PRNewswire/ -- Increase in urbanization and rise in need to reduce carbon emissions and manage resource consumption drive the growth of the smart cities market. Moreover, government initiatives promoting smart cities contribute to the exponential growth of the market with double digit CAGR during the forecast period. (Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg ) Smart cities incorporate various information and communication technologies to fuel sustainable economic growth. They are developed with the aim to provide enhanced urban services to reduce resource overall costs and energy consumption. Continuous growth in urbanization leads to surge in demand for smart technology for efficient day-to-day services for better resource management. The wide adoption of Internet of Things (IoT) devices supported by rise in number of connected devices drive the deployment of smart devices. This also helps enrich the data available to users and managers of city services. According to Cisco, total number of connected devices are expected to exceed 50 billion by 2020, which is anticipated to lead to higher adoption of IoT devices in smart cities. Various countries such as UK and Australia are aimed to reduce their carbon emissions and improve their use of resources. Major cities in these countries have set their national goal of an 80% reduction in carbon emissions in the upcoming years, which is highly supported by smart energy projects. Moreover, government initiatives have been playing a crucial role in smart city implementation as countries continue to rely heavily on innovation funding from the government agencies and research councils. For instance, smart cities in the UK are being supported by European regional infrastructure and R&D funding. Several programs are being evolved into more long-term support fom city councils or through city deal programs. Recently, London government awarded more than $19,000 each to eight smart city projects under Smarter London Together program that focuses on charge points for electric vehicles, dementia support, along with reduction of social isolation. The smart governance and education has been predicted to achieve substantial growth during the forecast period. A significant trend of a close relationship developing between local government and the university sector is being observed, which is expected to drive the adoption of IoT in education sector during the forecast period. In addition, developed as well as developing countries are creating their infrastructure based on smart governance to strengthen democracy, citizen participation, and public welfare, which is expected to be opportunistic for the market growth. For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/383 Some of the key market players profiled in the report include AT&T, ABB, General Electric Company, Hitachi Vantara, Honeywell International Inc., Huawei Technologies Co., Ltd., IBM Corporation, Schneider Electric, Siemens AG, and Toshiba Corporation. They focus on partnerships and technological innovations to strengthen their position in the industry. For instance, in September 2018, Hitachi Vantara joined Arrow as a technology adviser and partner in the Colorado Smart Cities Alliance. The partnership has been aimed to help Colorado municipalities in utilizing data-driven insights derived from IoT, big data, video intelligence, and advanced analytics technologies to fuel innovation and improve smart city development. Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas. Similar Reports: Energy Management Systems Market - Global Opportunity Analysis and Industry Forecast, 2017 - 2023 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: Web: https://www.alliedmarketresearch.com 
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