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According to IMARC Group, the Europe smart cities market size is projected to exhibit a growth rate (CAGR) of 13.95% during 2024-2032.

The report has segmented the market by Focus area (smart transportation, smart buildings, smart utilities, smart citizen services), smart transportation (smart ticketing, traffic management system, passenger information management system, freight information system, connected vehicles, and others), smart buildings (building energy optimization, emergency management system, parking management system, and others), smart utilities (advanced metering infrastructure, distribution management system, substation automation, and others), smart citizen services (smart education, smart healthcare, smart public safety, smart street lighting, and others), and country.

Europe Smart Cities Market Growth:

The Europe smart cities market is witnessing significant growth, primarily driven by the rising demand for sustainable and efficient urban planning solutions. Additionally, the increasing focus on modernizing the old infrastructure is also stimulating the growth of the market. Moreover, the government authorities in Europe are providing both directive and financial support for cities transitioning towards smarter, more sustainable urban environments, which, in turn, is providing a positive outlook to the overall market. In line with this, the growing levels of urbanization and the demand for more efficient and livable cities are driving the adoption of smart city solutions.

Europe Smart Cities Market Segmentation:

  • The report has provided a detailed breakup and analysis of the market based on the focus area. This includes:

    • Smart Transportation
    • Smart Buildings
    • Smart Utilities
    • Smart Citizen Services

  • A detailed breakup and analysis of the market based on smart transportation has also been provided in the report. This includes:

    • Smart Ticketing
    • Traffic Management System
    • Passenger Information Management System
    • Freight Information System
    • Connected Vehicles
    • Others

  • A detailed breakup and analysis of the market based on smart buildings has also been provided in the report. This includes:

    • Building Energy Optimization
    • Emergency Management System
    • Parking Management System
    • Others

  • A detailed breakup and analysis of the market based on smart utilities has also been provided in the report. This includes:

    • Advanced Metering Infrastructure
    • Distribution Management System
    • Substation Automation
    • Others

  • A detailed breakup and analysis of the market based on smart citizen services has also been provided in the report. This includes:

    • Smart Education
    • Smart Healthcare
    • Smart Public Safety
    • Smart Street Lighting
    • Others

  • The report has also provided a comprehensive analysis of all the major regional markets, which include:

    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Others

Europe Smart Cities Market Trends:

Apart from this, the emerging utilization of advanced technologies, like the Internet of Things (IoT), artificial intelligence (AI), and big data analytics in urban management to enable smart infrastructure and buildings, efficient water and waste management systems, and enhanced public safety and security services, is further contributing to the growth of the market.

Moreover, the growing emphasis on sustainability, innovation, and connectivity is attracting investments from private entities in smart infrastructure projects, which is positively influencing the market growth. Additionally, collaborations between public, private, and global tech giants to accelerate the smart city transformation are expected to stimulate the growth of the Europe smart cities market in the coming years.

Other Key Points Covered in the Report:

  • COVID-19 Impact
  • Porters Five Forces Analysis
  • Value Chain Analysis
  • Strategic Recommendations

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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Quelle/Source: MENAFN, 15.03.2024

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