Frequently Asked Questions
Q1) What is the CAGR & Market Size of the Global Smart Cities Market during the forecasting period 2020-2027?
Ans) The global smart cities market size was worth US$ 735.20 billion in 2019 and further predicted to reach US$ 2715.74 billion by 2027, at a CAGR of 18.97% during the forecast period (2020-2027).
Q2) Which is the base year calculated in the Global Smart Cities Market report?
Ans) The base year considered in the report is 2019.
Q3) What are the rising factors for growth of the market?
- Rising demand for public safety and communication infrastructure
- Increasing environmental concerns and demand for green initiatives
Q4) What factor hampers the growth of the market?
- Huge initial investments
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Q5) Based on Solution what's the CAGR of Smart Grids Market during the forecast period(2020-2027)
Ans) Smart grids market is expected to grow with a CAGR of 19.98% during the forecast period, reaching USD 483.60 billion in 2027, from its recorded value of USD 122.28 billion in 2019.
Q6) Which region occupies the highest share during the forecast period?
Ans) Europe occupied the highest market share of 32% in 2019 which is expected to remain flat to reach 30% by 2027
Q7) Which region has the fastest growth rate during the forecast period?
Ans) Asia Pacific is growing at the fastest CAGR of 22.67% during the forecast period (2020-2027)
Q8) Key Players of Smart Cities Market?
Ans) Some of the noticeable players in the market include ABB, Cisco Systems, Schneider Electric, IBM, Honeywell and Siemens among others.
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