Global smart cities market to grow to $2 Trillion in 2025

ANG MO KIO, Singapore - July 21, 2019 - PRLog -- The report on "Global Smart Cities market" by ecosystem (Tier 1 phase, Tier 2 phase, Tier 3 phase) by technology trends (IoT, Big Data, Blockchain, Cloud Storage) by region (North America, Europe, Asia Pacific, Latin America) by key companies (AT&T Inc, Cisco, General Electric, Ericsson, Microsoft) forecast to 2025

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The defining characteristic of this tier is the development of a digital ecosystem in and around the city's digital infrastructure, with the result that new products, services, businesses, and government revenue opportunities are created on the smart city platform. Examples include smart streetlighting that includes sensors and wifi.

Smart Governance segment accounts for 20.93% share in the smart city ecosystem. Similarly, smart energy segment holds 16.65% share; smart healthcare segment comprises 15.26% share. Smart building and smart infrastructure combined represent 23.93% share. Smart security is the critical and most concerned segment representing 14.11% share of the holistic smart city. Likewise, smart transportation makes up 9.09% share.

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