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(IT-NEWSWIRE.COM, April 13, 2018 ) Research analysis on the global smart city ICT infrastructure market identifies that the increased need for smart cities will be one of the major factors that will have a positive impact on the growth of this market. The increase in urbanization has led to the increasing living standards, which in turn, raised the demand for efficient ICT infrastructure and planning. Additionally, it has also raised concerns about waste management, air pollution, general health concerns, and aging infrastructure. This need for the transformation of the existing ICT infrastructure and the growing urbanization will propel the demand for smart cities, which will subsequently drive the market’s growth prospects during the forecast period. Publisher’s market research analysts predict that this market will grow at a CAGR of more than 17% by 2021.
The increasing partnership among countries to promote smart cities will be one of the latest trends that will gain traction in the smart city ICT infrastructure market during the next four years. Recently, Kuwait announced an agreement with South Korea to build a USD 4 billion smart city in Kuwait. The Chief Minister of one of the states in India also focused on the potential opportunities of BRICS nations to cooperate in developing smart cities and related infrastructure. The rise in such projects will improve the development of smart cities, which will subsequently boost the market’s growth prospects.
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Competitive landscape and key vendors
The market appears to be highly competitive and is characterized by the presence of multiple vendors. The increasing demand for IT and telecom providers for services in smart cities will attract vendors to make huge investments. Additionally, the market is also witnessing the entry of many communication service providers.
The leading vendors in the market are -
Cisco Systems
IBM
Oracle
Huawei
AT&T
China Mobile
NTT Communications
Verizon Communications
Vodafone
ABB
Hitachi
Honeywell International
Siemens
The other prominent vendors in the market are Accenture, Nokia, Deutsche Telekom, Ericsson, HP, Microsoft, Schneider Electric, Telefónica, and Toshiba.
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Segmentation by type and analysis of the Smart City ICT Infrastructure market
Smart grid
Smart healthcare
Smart transport
Smart home and building
Smart education
Smart water network
Smart security
During 2016, the smart grid segment accounted for the major shares of this market. This segment involves a network of transmission lines, transformers, substations, and several electrical devices and provides technology and act like a network provides. Energy conservation, the rise in consumption of energy, and the introduction of government policies will fuel the growth of this market segment.
Geographical segmentation and analysis of the smart city ICT infrastructure market
Americas
APAC
EMEA
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Source: EmailWire.Com 
Source: EmailWire.com
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