Global Smart Cities Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

Transparency Market Research

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USD 4795 Smart Cities Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

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Published Date 22-May-2014 88 Page Report

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Press Release

Global Smart Cities Market Expected to Reach USD 1,265.85 Billion Globally in 2019: Transparency Market Research

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Smart Cities Market

REPORT DESCRIPTION

According to a new market report published by Transparency Market Research "Smart Cities Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global smart cities market is expected to reach a value of USD 1,265.85 billion by 2019, growing at a CAGR of 14.0% from 2013 to 2019. Increase in migration from rural to urban areas is the major factor responsible for the growth of smart cities market, globally. North America was the largest contributor to the smart cities market and accounted for a share of 34.5% in 2012. This is mainly attributed to the increasing smart grid investments, upgradation in the water infrastructure and transportation sector. The manufacturers in this region are investing more in smart meters and smart grids to provide an excellent foundation for smart city programs. Among the diferent application categories, smart transportation segment held the largest share of around 16% in 2012. This was due to the growing demand for advanced traic management, building a superior environment and reducing the volume of delivery vehicles. At the same time, smart transportation links the modes of transport to improve the traic low in both urban and inter-urban networks. Smart transportation system helps in minimizing the economic burden of government by reducing...