Smart cities are those that have embraced technology to manage their assets and resources more efficiently. The goal is to use technology to improve the quality of life for residents and to make the city more attractive to businesses and visitors.
There are many different types of technology that can be used to create a smart city. One example is the use of sensors to monitor traffic patterns and to automatically adjust traffic signals to keep traffic flowing smoothly. This can help to reduce congestion and to improve air quality by reducing emissions from idling vehicles.
Another example of smart city technology is the use of energy-efficient lighting and building controls. This can help to reduce energy consumption and to save money on utility bills.
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Key Trends and Drivers
One of the biggest trends in the smart city market is the use of big data. By collecting and analyzing large amounts of data, cities can identify patterns and trends that can help them make better decisions. For example, data can be used to improve traffic flow or to find areas that are more likely to experience crime.
Another trend is the use of sensors. Sensors can be used to collect data about everything from air quality to noise levels. This information can then be used to make the city more efficient and livable.
Finally, there is a trend towards using more renewable energy sources. Smart cities are often powered by clean energy sources such as solar and wind. This not only helps to improve the environment, but it also helps to save money.
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Market Segments
The smart cities market is segmented by application, smart governance, smart utilities, smart transportation, and region. By application, the market is divided into smart governance, smart building, and environmental solution. By smart governance, the market is bifurcated into city surveillance, and e-governance. By smart utilities, the market is classified into energy management, and water management. By smart transportation, the market is bifurcated into intelligent transportation system and smart ticketing & travel assistance. By region, the market is classified into North America, Europe, Asia-Pacific, and the rest of the world.
Key Players
The global smart cities market report includes players such as ABB Limited, AGT International, AVEVA Group plc., Cisco Systems, Inc., Ericsson, General Electric, Honeywell International Inc., IBM Corporation, Itron Inc., and KAPSCH Group.
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