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Smart City Market Worth US$ 3651.49 Billion By 2025 - Digitalization, New Technology and Development
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Akash kale
Aug 29, 2017, 9:26:41 AM8/29/17
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The smart infrastructure technology has significantly changed over time, and various disciplines such as building automation for facility and emergency response management, building energy optimization, parking management, and in-building communication systems, are now being widely adopted. Furthermore, Green building initiatives have taken up a center stage across many countries, especially across the Europe, North America, and APAC region. Focus on reduction in energy consumption and concerns over proliferation of environmental wastes are the major driving factors for development of smart cities. Transportation is another major growing focus area during the forecast period. The global Smart cities market accounted for US$ 773.19 Billion in 2016 and is expected to grow at a CAGR of 19.08% during the forecast period 2017 – 2025, to account for US$ 3651.49 Billion in 2025.
The smart infrastructure technology has significantly changed over time, and various disciplines such as building automation for facility and emergency response management, building energy optimization, parking management, and in-building communication systems, are now being widely adopted. Furthermore, Green building initiatives have taken up a center stage across many countries, especially across the Europe, North America, and APAC region. Focus on reduction in energy consumption and concerns over proliferation of environmental wastes are the major driving factors for development of smart cities. Transportation is another major growing focus area during the forecast period. The global Smart cities market accounted for US$ 773.19 Billion in 2016 and is expected to grow at a CAGR of 19.08% during the forecast period 2017 – 2025, to account for US$ 3651.49 Billion in 2025.
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