TechnoMark News

  Smart cities are aimed for sustainable economic development and high quality of life by using information and communication technologies in multiple areas such as economy, environment, mobility, healthcare, living, and government. Adoption of smart cities solutions, rapid urbanization, and demand for better quality of life are the key factors that drive the growth of the global smart cities market. The main purpose of the smart cities mission is to drive economic growth and to improve the quality of life of individuals by empowering local area development and harnessing technology, particularly the technology which leads to smart outcomes. Therefore, it has been estimated that cities which will deploy smart mobility applications are expected to reduce commuting time by 15-20% by 2025, which shows the benefits of smart cities applications and motivates the governments to adopt it. Major Key Players of the Smart Cities Market are: AT&T Inc., Cisco Systems Inc., Ericsson, Genera...

Cities wherein traditional infrastructure is made more efficient through integration & coordination with ICT and other novel digital technologies are termed as smart cities. Smart city solutions automate routine functions that serve individuals, buildings, traffic systems, and other public amenities. In addition, smart cities have the proficiency & capacity to monitor, understand, and analyze their capabilities, which further improves the quality of life for citizens whilst reducing a city’s environmental impacts. Market Industry Reports (MIR) has published a new report titled “ Smart Cities Market  – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global smart cities market accounted for over US$ 360 billion (estimated) in 2019. It is anticipated to grow at a CAGR of 18.0% from 2019 to 2030. The growing adoption of connected devices and smart technologies across various regions has been one of the most cruci...