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Insights on the Smart Cities Global Market to 2026 – Rising Adoption of AI Solutions is Boosting Market Growth

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Dublin, June 11, 2021 (GLOBE NEWSWIRE) — The “Smart Cities Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The global smart cities market exhibited strong growth during 2015-2020. A smart city refers to a framework that utilizes information and communication technology (ICT) to deploy, develop and promote sustainable development in urban areas. It also helps in sharing information with the public, improving operational efficiency and increasing the quality of citizen welfare. A smart city relies on both hardware components, such as chips, sensors and actuators, and software solutions like user interfaces (UIs), communication networks and the Internet of Things (IoT) devices to promote mixed-land use for unplanned areas, which offers a wide range of facilities at one location and aids in the optimum utilization of the available space. The data collected from these solutions is analyzed to monitor power plants, water supply, detect crime, manage waste and offer various other municipality services. Looking forward, the global smart cities market is expected to grow at a CAGR of around 20% during the forecast period (2021-2026).

In smart cities, the data acquired and delivered by the IoT devices is stored in the cloud or on servers. The connection of these devices and the utilization of data analytics (DA) helps converge the physical and digital city elements, thereby increasing both public and private sector efficiency, facilitating economic benefits and enhancing the efficiency of the existing infrastructure. Presently, the primary infrastructure elements in smart cities include sanitation, affordable housing, sustainable environment, adequate water supply, assured electricity supply, health and education, efficient urban mobility and public transport, and robust IT connectivity and digitalization.

According to the ‘World Population Prospects 2019’ report prepared by the Population Division of the Department of Economic and Social Affairs of the United Nations (UN) Secretariat, the world’s population is anticipated to increase by 2 Billion in the next 30 years, from 7.7 Billion to 9.7 Billion by 2050. Thus, the escalating demand for sustainable infrastructure due to increasing population and urbanization represents one of the key factors propelling the growth of the smart cities market. As a result, governing agencies of both the developed and emerging economies are implementing policies and regulations for the deployment of cloud-based services to develop, facilitate and track their smart city initiatives. These agencies are also investing in smart city technology to fight against the coronavirus diseases (COVID-19) outbreak as it can be employed to track the spread of the pandemic, monitor patients, reduce the infection rate, and implement different medical strategies. Additionally, as the establishment of smart cities helps utilize technologies and connect data sensors to ensure quality economic and environmental development, countries around the world are investing in smart city development.

The rising adoption of artificial intelligence (AI) solutions is providing a boost to the market growth. The utilization of AI-based CCTV cameras for facial recognition, sensors for smart parking assistance and smart traffic management systems are creating lucrative opportunities for the leading players in the smart cities industry. Besides this, intensifying urban migration and the rise in unplanned development is also fueling the need for smart cities worldwide. Advancements in energy infrastructure are also impelling market growth as numerous countries are facing threats in terms of grid reliability and maintenance of aging energy infrastructures. Smart cities provide improved infrastructure for the optimal utilization of energy and improve efficiency by implementing smart energy grids and related technologies. Furthermore, governance structures, technology ecosystems, advancements in infrastructure, and funding and financing models are some of the other factors anticipated to strengthen the growth of the smart cities market in the upcoming years.

Key Market Segmentation:

This report provides an analysis of the key trends in each sub-segment of the global smart cities market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, smart citizen services, focus area, smart transportation, smart buildings and smart utilities.

Break up by Smart Citizen Services:

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

Break up by Focus Area:

  • Smart Transportation
  • Smart Buildings
  • Smart Utilities
  • Smart Citizen Services
  • Smart transportation refers to the integrated application of modern technologies and management strategies in transportation systems. It currently holds the largest market share as it assists in speed control and travel time improvement.

Break up by Smart Transportation:

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

At present, traffic management systems represent the leading segment. The systems stream real-time transport data from the complete traffic infrastructure into one Transportation Management Center (TMC). The TMC assists in processing the data and taking intelligent actions, which increase transport efficiency, mediate traffic congestion and improve safety.

Break up by Smart Buildings:

  • Building Energy Optimization
  • Emergency Management System
  • Parking Management System
  • Others
  • Building energy optimization presently accounts for the majority of the total market share, as it aids in optimizing the energy efficiency of buildings. It integrates the conventional design method, along with stimulation-aided design methods, to form an automated process.

Break up by Smart Utilities:

  • Advanced Metering Infrastructure
  • Distribution Management System
  • Substation Automation
  • Others
  • Advanced metering infrastructure (AMI) refers to a collective term that describes the complete infrastructure from smart meter to two-way communication network for controlling center equipment. Moreover, substation automation refers to the utilization of data from intelligent electronic devices (IED), control and automation capabilities within the substation, and control commands from remote users to control power-system devices.

Regional Insights:

  • Europe
  • North America
  • Asia Pacific
  • Latin America
  • Middle East and Africa
  • Europe enjoys the leading position in the market on account of the development in high-end infrastructure, considerable utilization of the internet of things (IoT), and easy accessibility to effectual network connectivity.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the smart cities market report, along with the detailed profiles of the major players operating in the industry. Some of these players are ABB Group (NYSE: ABB), Cisco Systems, Inc., Alphabet Inc., International Business Machines (IBM) Corporation, Microsoft Corporation, Oracle Corporation, Schneider Electric, Hitachi, Ltd., Siemens AG, Huawei Technologies Co., Ltd., Intel Corporation, General Electric (GE) Company, Telefonaktiebolaget L M Ericsson, Toshiba Corporation, Honeywell International Inc. and AT&T Communications, LLC.

Key Questions Answered in This Report:

  • How has the global smart cities market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global smart cities industry?
  • What are the key regional markets in the global smart cities industry?
  • What is the breakup of the market based on the focus area?
  • What is the breakup of the market based on the smart transportation?
  • What is the breakup of the market based on the smart building?
  • What is the breakup of the market based on the smart utilities?
  • What is the breakup of the market based on the smart citizen service?
  • What are the various stages in the value chain of the global smart cities industry?
  • What are the key driving factors and challenges in the global smart cities industry?
  • What is the structure of the global smart cities industry and who are the key players?
  • What is the degree of competition in the global smart cities industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Smart Cities Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Focus Area
5.5 Market Breakup by Smart Transportation
5.6 Market Breakup by Smart Buildings
5.7 Market Breakup by Smart Utilities
5.8 Market Breakup by Smart Citizen Services
5.9 Market Breakup by Region
5.10 Market Forecast

6 Market Breakup by Focus Area

7 Market Breakup by Smart Transportation

8 Market Breakup by Smart Buildings

9 Market Breakup by Smart Utilities

10 Market Breakup by Smart Citizen Services

11 Market Breakup by Region

12 SWOT Analysis

13 Value Chain Analysis

14 Porter’s Five Forces Analysis

15 Price Analysis

16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 ABB Group (NYSE: ABB)
16.3.2 Cisco Systems, Inc.
16.3.3 Alphabet Inc.
16.3.4 International Business Machines (IBM) Corporation
16.3.5 Microsoft Corporation
16.3.6 Oracle Corporation
16.3.7 Schneider Electric
16.3.8 Hitachi, Ltd.
16.3.9 Siemens AG
16.3.10 Huawei Technologies Co., Ltd.
16.3.11 Intel Corporation
16.3.12 General Electric (GE) Company
16.3.13 Telefonaktiebolaget L M Ericsson
16.3.14 Toshiba Corporation
16.3.15 Honeywell International Inc.
16.3.16 AT&T Communications, LLC

For more information about this report visit https://www.researchandmarkets.com/r/lg5k0o


Artificial Intelligence

Oncolytics Biotech® Announces Upcoming Presentations at the American Society of Clinical Oncology Annual Meeting

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SAN DIEGO and CALGARY, AB, April 25, 2024 /PRNewswire/ — Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the acceptance of two abstracts at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, which is taking place from May 31 – June 4, 2024, in Chicago, Illinois. Details on the abstracts and poster presentation are shown below.

Title: Phase 1/2 randomized, open-label, multicenter, Simon two-stage study of pelareorep combined with modified FOLFIRINOX +/- atezolizumab in patients with metastatic pancreatic ductal adenocarcinoma.
Presentation Type: PosterAbstract Number: TPS4203Session Title: Gastrointestinal Cancer – Gastroesophageal, Pancreatic, and HepatobiliarySession Date and Time: June 1, 2024, 1:30 – 4:30 p.m. CTTitle: Pelareorep driven blood TIL expansion in patients with pancreatic, breast and colon cancer.Presentation Type: Online abstractAbstract Number: e14625
Abstracts will be published on the ASCO Annual Meeting website at 5:00 p.m. ET on May 23, 2024.
About Oncolytics Biotech Inc.
Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype — turning “cold” tumors “hot” — through innate and adaptive immune responses to treat a variety of cancers.
Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid and hematological malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For further information, please visit: www.oncolyticsbiotech.com or follow the company on social media on LinkedIn and on X @oncolytics.
 
Company Contact
Jon Patton
Director of IR & Communication
[email protected]
 
Investor Relations for Oncolytics
Timothy McCarthy
LifeSci Advisors
+1-917-679-9282
[email protected]
 
 

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Internet of Things (IoT) Market to Expand at a Stellar 19.4% CAGR through 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — SkyQuest projects that the Internet of Things (IoT) Market will attain a value of USD 1572.37 billion by 2031, with a CAGR of 19.4% over the forecast period (2024-2031). Internet of Things (IoT) refers to the network of connected devices over the internet that are embedded with sensors and software. Growing adoption of automation around the world and advancements in connected device technologies are forecasted to be key factors driving the Internet of Things (IoT) market growth in the future.

Download a detailed overview:
https://www.skyquestt.com/report/internet-of-things-market
Browse in-depth TOC on “Internet of Things (IoT) Market”
Pages – 197Tables – 69Figures – 75Internet of Things (IoT) Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 380.6 billion
Estimated Value by 2031
$1572.37 billion
Growth Rate
Poised to grow at a CAGR of 19.4%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component Type, Application, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Rising demand for connected healthcare and growing use of industrial automation solutions
Key Market Drivers
Advancements in connectivity and connected device technologies
 
 
Hardware is Estimated to Dominate the Global Market Share Owing to High Use of Hardware Components in IoT
Hardware components such as sensors and actuators are highly vital to the proper functioning of any kind of Internet of Things (IoT) device. Growing adoption of IoT devices in different industry verticals for various applications is promoting market growth via this segment. The development of new hardware solutions also helps this segment maintain its dominance.
Smart Agriculture is the Fastest-growing Segment Owing to Rising Adoption of Precision Agriculture Practice
Rising emphasis on improving agricultural yield and sustainability has resulted in the growing adoption of smart agriculture and precision agriculture practices. IoT devices play a crucial role in monitoring and controlling different elements of a smart agriculture setup that is mostly automated using different smart devices thereby contributing to the IoT market growth as well.
Growing Adoption of 5G Technology Allowing North America to Dominate the Global Internet of Things (IoT) Market
Rapid adoption of 5G technology and high use of cloud-based platforms are key factors allowing North America to lead the demand for Internet of Things (IoT) around the world. Surging investments in the research and development of advanced technologies and the presence of key tech giants such as Amazon, Google, IBM, and Microsoft also helps the dominance of this region. Canada and the United States remain the most lucrative markets for Internet of Things (IoT) companies in North America through 2031.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-market
Internet of Things (IoT) Market Insights:
Drivers
Advancements in connectivity and connected device technologies.Growing demand for Industrial IoT (IIoT) solutions.Increasing number of smart cities and development of smart infrastructure.Restraints
Lack of standardization of IoT devices and technologies.Privacy and data security issues.Interoperability challenges and complex integration scenarios.Prominent Players in Internet of Things (IoT) Market
MicrosoftCisco SystemsIntelSiemens (Germany)AWS (US)Oracle (US)Qualcomm (UK)SAP (Germany)IBM (US)Google (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-market
Key Questions Answered in Internet of Things (IoT) Market Report
What are the top drivers for Internet of Things (IoT) market going forward?Who are the leading Internet of Things (IoT) market players?Where will demand for Internet of Things (IoT) be high?Which component accounts for a dominant revenue share of the global Internet of Things (IoT) market?This report provides the following insights:
Analysis of key drivers (advancements in connectivity and connected device technologies, growing demand for industrial IoT (IIoT), development of smart infrastructure for smart cities, growing use of smart devices ), restraints (lack of standardization, complexities in integration, concerns regarding security and privacy of data), and opportunities (rising popularity of connected healthcare, increasing adoption of Industry 4.0, rising use of industrial automation), influencing the growth of Internet of Things (IoT) market.Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Internet of Things (IoT) market.Market Development: Detailed analysis of potential regions where the market has potential to grow.Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.Related Reports:
Global Internet of Things in Retail Market
Global Internet of Things (IoT) in Agriculture Market
Global Internet of Things (IoT) Microcontroller Market
Global IOT In Healthcare Market
Global IOT in Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:
Mr. Jagraj Singh Skyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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Sapiens Unveils Enhanced Reinsurance and Analytics Solution Catering to Evolving Market Demands

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Latest version enhances operational efficiency, regulatory reporting, and strategic decision-making with robust business insights
ROCHELLE PARK, N.J., April 25, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of its latest version of Sapiens ReinsuranceMaster.

The new release of Version 9 brings a multitude of enhancements and technology stack updates, designed to empower insurers and reinsurers with robust, enriched functionality to support business requirements. This includes automating global inter-company retrocession, facilitating U.S. NAIC statutory reporting (Schedule F), and real-time reinsurance allocation support (‘reinsurance as a service’).
The latest release offers a multitude of enhancements, with one of the standout features being the seamless integration of Sapiens Intelligence with Sapiens ReinsuranceMaster. This integration empowers users with advanced data capabilities and actionable insights through out-of-the-box reinsurance reports and analytics of the reinsurance portfolio’s performance.
In addition, the new release brings significant improvements to the user experience, with a revamped user interface, enhancements in processing performance through improvements and parallel processing mechanisms, improved scalability and operability. 
“With the growing significance of reinsurance in today’s volatile environment, our latest version of Sapiens ReinsuranceMaster with Sapiens Intelligence offers even greater value to insurers and reinsurers, catering to the ever-changing demands of this dynamic market,” said Roni Al-Dor, Sapiens President & CEO. “Leveraging the shared experience from our other products as well as requirements from our global client base, the solution is now very well-positioned to support global automation of complex reinsurance programs and provide management with insights into reinsurance performance as well as statutory reporting.”  
Sapiens ReinsuranceMaster is a comprehensive, single platform for large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.
Sapiens Intelligence, now a fully integrated component of Sapiens ReinsuranceMaster v.9, produces actionable insights to maximize the value of data and KPIs for smarter decision making, improving reinsurance business management.
About Sapiens  
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn  
Investor and Media Contact : Yaffa Cohen-Ifrah Sapiens Chief Marketing Officer and Head of Investor Relations Email: [email protected] 
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:  the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic,  and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
 
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