Smart Cities Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The smart cities market is expected to grow at a CAGR of around 22.1% during the forecast period 2022-2027.
Key HighlightsThe Smart Cities market is fragmented and highly competitive, as it comprises several global players. The major companies include ABB Ltd, Cisco Systems Inc., Emerson Electric Co., IBM Corporation, Ericsson Inc., Schneider Electric SE, and General Electric Co. The market is highly competitive since the market giants have cut-throat competition among themselves. They are all investing a buttload of amounts in R&D for developing better, reliable smart products. Therefore, the market concentration will be low.
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