Smart cities market in India to reach US$ 56.3 B by 2024

reogma|Smart cities market in India to reach US$ 56.3 B by 2024

Technological advancements and smart applications have shaped India's smart cities market. Considering such factors it is anticipated the market to grow at a CAGR of 14%, with a value of USD 56.3 billion by 2024.

  • Definition / Scope
  • Market Overview
  • Key Metrics
  • Market Risks
  • Top Market Opportunities
  • Market Drivers
  • Industry Challenges
  • Technology Trends
  • Regulatory Trends
  • Market Size and Forecast
  • Market Outlook
  • Technology Roadmap
  • Distribution Chain Analysis
  • Competitive Landscape
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References
  • Appendix

Definition / Scope

  • Smart cities are gaining market traction as there is a compulsive search for land to accommodate more than 7 billion people on the planet. The continued growth in the population, ill-planned cities, overcrowding in developing cities, and lavish lifestyle are resulting in enormous wastage of the natural resources.
  • The loss of natural resources will eventually result in a high cost of living, a rise in the level of pollution, and an increase in the crime rates. Thus, the governments in many countries have come up with a concept of smart cities, which will be enabled by intelligent information and communication technology.
  • The smart city is a well-connected city that deploys various information and communication technologies to share information among the public and improve the quality of government services as well as citizen welfare. This technology has been widely adopted in recent years to improve public safety which can range from monitoring areas of high crime rates to improving emergency preparedness with sensors and many more.
  • In a very simple language, the smart city means the city which is better. A smart city is a dynamic solution that varies from city to city and country to country. The dynamic nature of the market in India, poses different challenges form what the solution providers and suppliers in the target market have faced in the other regions such as Europe and North America.
  • A city to be called a smart city should make life easier for its people. The smartness of a smart city is usually expressed by the following components: 
  • Smart Mobility
  • Smart Environment
  • Smart Government
  • Smart Quality of life
  • According to the 2011 census, approximately 31% of the Indian citizens were residing in the urban areas. The urbanization level in India is set to increase further and is expected to reach about 600 million by 2030 .

reogma|Smart cities market in India to reach US$ 56.3 B by 2024


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Technological advancements and smart applications have shaped India's smart cities market. Considering such factors it is anticipated the market to grow at a CAGR of 14%, with a value of USD 56.3 billion by 2024. Definition / Scope Market Overview Key Metrics Market Risks Top Market Opportunities Market Drivers Industry […]
reogma|Smart cities market in India to reach US$ 56.3 B by 2024reogma|Smart cities market in India to reach US$ 56.3 B by 2024

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