Smart City Market 2020-2024 | Decrease in Prices of Connected Devices Will Lead to a Progressing CAGR of 23% | Technavio
Technavio has been monitoring the smart city market and it is poised to grow by USD 2118.14 billion during 2020-2024, progressing at a CAGR of 23% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Request a free sample report
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Technavio has announced its latest market research report titled Global Smart City Market 2020-2024 (Graphic: Business Wire)
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Accenture Plc, Alphabet Inc., Cisco Systems (News - Alert) Inc., HP Inc., International Business Machines Corp., LG Electronics Inc., Microsoft Corp., Oracle Corp., and SAP SE are some of the major market participants. Although the decrease in prices of connected devices will offer immense growth opportunities, the high cost of upgrading smart grids will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Decrease in prices of connected devices has been instrumental in driving the growth of the market.
Smart City Market 2020-2024 : Segmentation
Smart City Market is segmented as below:
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Smart City Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our smart city market report covers the following areas:
This study identifies the proliferation of smart city projects in emerging economies as one of the prime reasons driving the smart city market growth during the next few years.
Smart City Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the Smart City Market 2020-2024, including some of the vendors such as ABB Ltd., Accenture (News - Alert) Plc, Alphabet Inc., Cisco Systems Inc., HP Inc., and International Business Machines Corp. Backed with competitive intelligence and benchmarking, our research reports on the Smart City Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Smart City Market 2020-2024: Key Highlights
Table Of Contents :
Five Forces Analysis
Market Segmentation by Application
Drivers, Challenges, and Trends
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