Dublin, May 11, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Smart City ICT Infrastructure Market 2016-2020" report to their offering.
The global smart city ICT infrastructure market to grow at a CAGR of 17.12% during the period 2016-2020.
Global Smart City ICT Infrastructure Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
IoT technology enables city planners to gain insights into different aspect of city management by enabling different devices to interconnect. It helps to manage large complex environments, understand the state of the city, and collaborate with different departments to produce cumulative results. There are a number of initiatives by IT and communication service providers. These increasing initiatives are increasing the popularity of the smart city concept across the globe.
According to the report, rapid industrialization and urbanization have led to various engineering, social, economic, management, and environmental challenges. To overcome these challenges, transformation into smart cities is required; it will encompass aspects of sustainability, energy management, intelligent transport, security, and environmental protection. In addition, with the rise in migration from rural areas to cities and the populace in urban areas, the need for efficient ICT infrastructure and planning is increasing. These have raised concerns regarding waste management, air pollution, human health, and aging infrastructure. Thus, the need for the transformation of existing ICT infrastructure with growing urbanization is expected to propel the market growth during the forecast period.
Further, the report states that the initial costs for smart cities' infrastructure and technology are high and require high maintenance, repair, and upgrade costs. These high costs act as a barrier for transforming to smart cities, which require proper planning along with private-public partnerships. However, in developing regions, there is an ongoing debate regarding the use of financial resources for public welfare rather than investing in smart cities. This may hamper the market growth during the forecast period.
To calculate the market size, the report considers the revenue generated from the ICT infrastructure deployed on the following:
- Smart grid
- Smart home and building
- Smart water network
- Smart healthcare
- Smart education
- Smart security
- Smart transport
Key vendors
- ABB
- AT&T
- China Mobile
- Cisco
- Hitachi
- Honeywell
- Huawei
- IBM
- NTT Communications
- Oracle
- Siemens
- Verizon Communications
- Vodafone
Other prominent vendors
- Accenture
- Alcatel-Lucent
- Deutsche Telekom
- Ericsson
- HP
- Microsoft
- Schneider Electric
- Telefonica
- Toshiba
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by components
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Appendix
For more information visit http://www.researchandmarkets.com/research/9x837t/global_smart_city