Smart Communities Market to Grow at 18.26% CAGR Driven by Efficient ICT Infrastructure to 2020

The need to save energy is a key growth driver for smart communities market, smart communities are implementing ICT solutions to reduce carbon footprints, reduce power consumption, and to improve the quality of life. As citizens are becoming increasingly aware of resource scarcity issues, the focus has shifted to develop digital infrastructure services that conserve resources.

The analysts forecast global smart communities market to grow at a CAGR of 18.26% during the period 2016-2020.The IoT adoption among numerous projects to provide seamless connectivity for M2M communications is increasing gradually. Smart and connected city projects are implementing IoT devices for smart technology and smart IT infrastructure. IoE, which is considered a super set of IoT technologies, is used to connect people, processes, things, and data through a centralized system that integrates IT systems and applications.

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According to the smart communities market report, the future prospects of smart cities depend on the quality of connectivity provided by service providers. Therefore, innovation in the development of ICT infrastructure is acting as a catalyst in the execution of connected community projects. To make ICT infrastructure viable, governments are also investing in modern ICT solutions (such as Wi-Fi and LTE) to validate their smart city projects.

Energy consumption has been increasing at a very high rate as a result of the increased usage of electronic devices for home and entertainment purposes. Smart grid technologies are enablers of smart power management systems and can aid in managing and reducing power consumption.

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The increased adoption of IoT is anticipated to have a positive impact on the growth of smart communities market by the end of 2020. IoE, a superset of IoT technologies, is used to connect people, processes, things, and data through a centralized system that integrates IT systems and applications. IoE is helping to provide a platform where people can connect to social networking sites over the Internet for community development. For instance, Cisco, a pioneer in ICT solutions for smart cities, is collaborating with the city of Nice, France, and other local industry partners to provide IoE platforms for the smart city project. The project is expected to help develop the city by providing services, such as smart lighting and smart waste management.

The competition among vendors that provide IT solutions for smart communities is intense. Numerous new players are also entering the market to offer specific IT solutions. Key vendors are competing in the domestic and international markets to provide their products and services.

Key players in the Global Smart Communities Market: Cisco, IBM, Schneider Electric, Siemens and Toshiba

Other Prominent Vendors in the market are: ABB, Accenture, Ericsson, ESRI, Hitachi, HP, Huawei, Microsoft, NEC, NTT DATA, Oracle, SAP, and Wipro.

Segmentation by IT solution and analysis of the smart communities market – Smart community grid, Smart community building, smart community transportation and Smart community water

Geographical segmentation and analysis of the smart communities market

Further, the smart communities market report states that the use of advanced IT solutions has raised many security concerns centered on data privacy and security. Hackers are continuously trying to breach electronic security systems of cloud-based solutions to steal private and confidential data.

Another related report is Global Smart Cities IT Services Market 2015-2019, the market for global smart cities IT services is growing rapidly and the market research analysts predict it will reach a CAGR of more than 18% until 2019. Quality government services are a vital part of providing good quality life standards to the citizens of a city. With the increasing aging populations in some countries, the quality of life is of significant importance. The smart city concept offers the provision of improving the quality of life and leads to the sustainable development of a country.Browse complete report @ http://www.reportsnreports.com/reports/444849-global-smart-cities-it-services-market-2015-2019.html.

Key players in the global smart cities it services market: Accenture, IBM, CISCO, Ericsson and Oracle

Other prominent vendors in the market are: Alstom, Arup, Hitachi, HP, Huawei, Infosys, Lockheed Martin, NTT Data, Microsoft, Siemens, and Wipro.

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