Which are the smart city initiatives by governments? How this will boost the growth of the market?

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Which are the #smartcity initiatives by governments? How this will boost the growth of the smart cities market?

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Globally, governments have been playing a major role in the smart cities market through its regulations and initiatives focused on deployment of smart services as a major part of their infrastructure.

General Services Administration’s (GSA) smart buildings initiative started in May 2012. It was aimed to reduce costs and promote smart services modernized federal government buildings in large part through connected technologies. It is one of the major projects recorded in recent years.

Similarly, Europe smart cities market size is expected to grow at a significant rate, due to its focus on energy and climate objectives. Therefore, the government is focusing on the distribution of energy with efficient models and strategies for progressing toward a low carbon future in this region.

Governments in emerging economies such as China, South Korea, Dubai, India, Singapore, and Japan are aimed for smart development of their economies.

The Indian government has dedicated investment of rupees 107.95 crores in smart cities. Furthermore, China has announced 500 smart cities pilot projects, which is again a huge investment by the government in the region.

Dubai’s goal to achieve the objective of the Smart Dubai Plan 2021 for transforming the city into a 100% paperless government has been promoting the adoption of smart services in the country and playing a major role in the growth of the smart cities market.

The global smart cities market is projected to reach $2,402,123 million by 2025, registering a CAGR of 21.28% from 2018 to 2025.

The key players operating in the global smart cities market include
• AT&T INC
• CISCO SYSTEMS, INC
• ERICSSON
• GENERAL ELECTRIC
• HITACHI, LTD

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