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China Smart Cities Market 2019-2023: Focus on Smart Infrastructure, Smart Transportation, & Video - Increasing Population, Need for Rapid Urbanization, and Governments' Initiatives
[March 25, 2019]

China Smart Cities Market 2019-2023: Focus on Smart Infrastructure, Smart Transportation, & Video - Increasing Population, Need for Rapid Urbanization, and Governments' Initiatives


DUBLIN, March 25, 2019 /PRNewswire/ -- The "China Smart Cities Market by ICT Components (Hardware, Software, Services), Segments (Smart Infrastructure, Smart Transportation, Video), Market Overview, Trends, Vendor Ecosystem Analysis, and Smart Cities Initiatives - Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

Research-and-Markets

Increasing population, need for rapid urbanization, and governments' initiatives are driving the overall growth of the China smart cities market

The China smart cities market is projected to reach USD 59.9 billion by 2023 from USD 30.4 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 14.5%.

The China smart cities market is driven by various factors, such the increase in population, need for rapid urbanization, and governments' investments and several policies to speed up the successful implementation and development of smart cities projects. Whereas, indigenous development policies of the country for foreign technology companies are the major restraints for the growth of the China smart cities market.

The smart infrastructure segment has the largest market share during the forecast period

The Government of China is supporting policies under the Made in China 2025 initiative to assist industrial R&D and strive for Fifth Generation (5G) commercialization by 2020. The country is more intended toward implementing the 5G technology for a multitude of life-transforming applications, such as 3D video to immersive media, autonomous vehicles, and the enablement of smart cities with ultra-high data rates, enhanced capacity, and reduced latency. China is expecting to reach 576 million 5G connections by 2025, which covers almost 40% of the 5G connections globally. China's telecommunication industry is dominated by China Mobile, China Unicom, and China Telecom. These players are the initiators of the 5G technology and hold the largest subscriber base in China.

Another technology, .e., cloud computing, is able to fulfill the need for rapid processing of massive data required during the construction of smart cities. It improves the computing capabilities and storage use by leveraging virtual technologies to perform dynamic allocation of computing requests. Cloud computing offers complete cybersecurity by monitoring and protecting the stored data. This technology is widely used across various sectors in smart cities, specifically in healthcare, insurance, and government.



The major smart cities market in China solution providers include Advantech (China), Kontron (Germany), CRRC (China), Hollysys (China), Nari Technology (China), China Railway Electrification Engineering Group (China), Hikvision (China), Dahua Technology (China), and Seavo Technology (China).

Report Highlights


  • Emphasis on Two/Three-Tier Smart Cities Projects
    • Cover more than 50% of Smart Cities projects by 2025
    • Small economic sizes, fewer policy barriers
    • More efficient and smooth transformation
    • Offer opportunities to build brand awareness, as well as accumulate experience in working with various stakeholder
    • Differentiated approach solving specific problems - education, health, and environment
    • Foundational investment in Smart Infrastructure
  • Focus on Smart Transportation
    • China's major focus - 13th Five-Year Plan's vital agenda
    • USD 2.2 trillion investment budget till 2020 - majorly driven by Belt & Road initiative
    • Smart Mobility will cover about 50% of the Smart Transportation ICT opportunity
    • Sharing and Renting and Intelligent Traffic Management market use cases encompass more than 75% of the Smart mobility ICT opportunity
    • The camera is the biggest hardware segment with USD 1 Billion opportunity in 2018
  • Government Collaboration -Public-Private-Partnerships (PPP)
    • 80% of Smart City projects are government-owned - 7500+ PPP projects
    • Well-financed projects through local municipal grants -National Development and Reform Commission (NDRC) plan to invest USD 14 billion to promote Integrated Circuit (IC) market
    • The leadership of City Mayors matters most
    • Beware of the political trap, non-transparent bidding process
  • Self Financed Projects
    • Cisco (Smart Guangzhou), SAS (IoT Innovation Center), Huawei (Demo Smart City in Weifang)
    • Delayed returns and the continuous threat from US-China trade-war
  • Exhibitions/Conferences/Events offers
    • Brainstorming sessions/panel discussions with project stakeholders
    • Opportunity to demonstrate capabilities and participate in bids

Companies Mentioned

  • Advantech
  • China Railway Electrification Engineering Group
  • Crrc
  • Dahua Technology
  • Hikvision
  • Hollysys
  • Kontron
  • Nari Technology
  • Seavo Technology

For more information about this report visit https://www.researchandmarkets.com/research/9hzzf6/china_smart?w=5

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Cision View original content:http://www.prnewswire.com/news-releases/china-smart-cities-market-2019-2023-focus-on-smart-infrastructure-smart-transportation--video---increasing-population-need-for-rapid-urbanization-and-governments-initiatives-300817584.html

SOURCE Research and Markets


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