Smart Community: Key market research findings
- Growing significance of mobile apps
- Rising implementation of IoT and IoE
Technavio has released a new market research report on the global smart communities market, which is expected to grow at a CAGR of around 18% between 2016 and 2020. Smart communities are an epitome of sustainable economic development of various countries. Of late, the smart community projects have attracted lot of government investments. Governments are teaming up with private companies to ensure seamless management of energy, water, transport, health, and education. The Americas is the largest revenue- contributing region in the smart communities market, where the concept of the smart city is in the pilot phase in numerous US cities including New York, San Francisco, Boston, Seattle, and San Jose.
Global smart community market-Categories
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Mobile technologies are playing a very crucial role in the digitization and development of smart cities. Smartphones are helping users worldwide to connect through applications. Mobile apps, such as ImproveMyCity, are helping people to voice their local concerns, and help them share images and post comments. Recently, the Obama administration has announced huge investment to develop apps that support the smart cities project to enhance the quality of life in the local communities,” says Amit Sharma, Lead Analyst, ICT, Technavio Research
The market is expected to witness the increased adoption of Internet-of-things (IoT) during the forecast period. Internet of everything (IoE), a superset of IoT technologies, is offering a platform where people can connect to social networking sites over the Internet for community development. For instance, Cisco, a pioneer in ICT solutions for smart cities, is collaborating with the city of Nice, France, and other local industry partners to provide IoE platforms for the smart city project. The project is expected to help develop the city by providing services, such as smart lighting and smart waste management.
The key vendors in the global smart communities market are Cisco, IBM, Siemens, Schneider Electric, and Toshiba. The competition among vendors that provide IT solutions for smart communities is intense. Numerous new players are also entering the market to offer specific IT solutions. Key vendors are competing in the domestic and international markets to provide their products and services.
A more detailed analysis is available in the Technavio report, Global Smart Communities Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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