Portland, OR, March 06, 2019 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, Smart Cities Market : Global Opportunity Analysis and Industry Forecast, 2018 – 2025. According to the report, the global smart cities market was pegged at $517.62 billion and is expected to reach $2.402 Trillion by 2025, registering a CAGR of 21.28% during the period from 2018 to 2025.

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Global smart cities market is segmented on the basis of functional area and geography. Based on the functional area, the market is segmented into smart infrastructure, smart governance & smart education, smart energy, smart mobility, smart healthcare, smart building, and others. The smart infrastructure segment held the largest share in the market in 2017, contributing about 21% of the total market. However, the smart energy segment is projected to manifest the fastest CAGR of 24.7% during the forecast period.

On the basis of geography, the market is divided into Europe, North America, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). The North America region dominated the market in terms of revenue in 2017, contributing about two-fifths of the total market. However, the Asia-Pacific region is estimated to portray the fastest CAGR of 24.3% during the forecast period.

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The report includes an analysis of the major market players such as AT&T Inc., Ericsson, Hitachi Ltd., IBM Corporation, Microsoft Corporation, Cisco Systems Inc., General Electric, Huawei Technologies Co., Ltd., Intel Corporation, and Schneider Electric SE.

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