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The global Smart Cities Market size to grow from USD 457.0 billion in 2021 to USD 873.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.8%

Source: Yahoo Finance

Public safety not only improves the crime-fighting ability but also provides safer conditions for first responders. Applications such as gunshot detection, smart surveillance, and home security systems can accelerate the law-enforcement response.
• By Focus Area, the Smart Transportation segment to grow at the highest CAGR during the forecast period

By Focus Area, the Smart Transportation segment is expected to grow at the highest growth rate during the forecast period.The smart transportation approach carries out the integration of software solutions to optimize the usage of assets, from tracks to trains, vehicle to infrastructure, aircraft to the ground, and ship to shore, to meet the ever-growing demands of citizens efficiently and provide safer services.

With the rapidly growing urban population, urban planners provide smart transportation solutions and services to offer adequate and safe transport infrastructure in emerging megacities.
• By Smart Utilities Type, the Energy segment to hold the largest market size during the forecast period

The Energy segment is expected to hold the largest market size.Smart Utilities in Energy refers to the application of network capabilities and computing intelligence to electric grids to efficiently manage and deliver power to end users.

Smart grids can know about power failures once the smart meter stops sending meter data, as all the components have IP addresses and are capable of two-way communication.

By Smart Citizen Services Type, Smart Healthcare segment to grow at the highest CAGR during the forecast period
The Smart Healthcare segment is projected to grow at the highest CAGR during the forecast period. Smart healthcare involves the use of solutions such as remote patient monitoring, remote medical assistance, simultaneous monitoring and reporting, patient care workflow automation, notifications and alert management, real-time staff tracking, mobile health, smart hospitals, smart pills, and enhanced chronic disease treatment.

The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25%
• By Designation: C-Level Executives – 50%, Directors– 40%, Others*–10%
• By Region: APAC – 35%, Europe – 30%, North America – 25%, and RoW** – 10%
Note: Tier 1 companies have revenues over USD 1 billion; tier 2 companies have revenues ranging from USD 500 million to USD 1 billion; and tier 3 companies have revenues ranging from USD 100 million to USD 500 million
*Others include consultants, subject matter experts, and thought leaders
**RoW includes MEA and Latin America
Source: MarketsandMarkets Analysis

The following key Smart City vendors are profiled in the report:
• Siemens (Germany)
• Cisco (US)
• Hitachi (Japan)
• IBM (US)
• Microsoft (US)
• Schneider Electric (France)
• Huawei (China)
• Intel (US)
• NEC (Japan)
• ABB (Switzerland)
• Ericsson (Sweden)
• Itron (US)
• Oracle (US)
• Fujitsu (Japan)
• Honeywell (US)
• Accenture (Ireland)
• Vodafone (UK)
• AWS (US)
• Thales (France)
• Signify (Netherlands)
• Kapsch (Austria)
• Motorola (US)
• GE (US)
• Google (US)
• TCS (India)
• AT&T (US)
• Nokia (Finland)
• Samsung (South Korea)
• SAP (Germany)
• TomTom (Netherlands)
• AppyWay (UK)
• KETOS (US)

Research Coverage
The Smart Cities Market is segmented into focus area, smart transportation, smart buildings, smart utilities, smart citizen services, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; solutions and services; key strategies; new product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated within the Smart Cities Market.

Reasons to Buy the Report

The report would help the market leaders and new entrants in the following ways:
• It comprehensively segments the Smart Cities Market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new product launch, product enhancement, partnerships, mergers, and acquisitions.

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NTPC, Indian Oil to team up on renewable energy

Source: pv magazine India

NTPC Ltd. and Indian Oil have announced plans to work together on renewable energy generation and storage, as well as gas-based power, to support the refiner’s industrial facilities.

Indian state-owned power producer NTPC Ltd. and Indian Oil have signed a memorandum of understanding (MoU) to collaborate in the field of renewable energy and mutually explore opportunities for the supply of round-the-clock captive renewable power.

NTPC and Indian Oil will work on the generation and storage of renewable energy or other forms of energy, including gas-based power, primarily to cater to Indian Oil refineries or other installations. This partnership will support the country’s commitment to achieve renewable energy targets and reduce greenhouse gas emissions.

“NTPC is taking various steps to make its energy portfolio greener by adding significant capacity of renewable energy sources so that our non-fossil fuel-based capacity will become equal or greater than our thermal portfolio by 2032,” said Gurdeep Singh, NTPC chairman and managing director. “Through this MoU, the strengths of both the organizations can be leveraged to achieve the aim of the country to meet its net-zero commitments.”

NTPC, India’s largest integrated energy company, has an installed capacity of 67,657.5 MW (including 13,425 MW through ventures and subsidiaries) comprising 47 NTPC stations (23 coal-based stations, seven gas-based stations, one hydro station, one small hydro, 14 solar PV and one wind-based station) and 26 joint venture stations (nine coal-based, four gas-based, eight hydro, one small hydro, two wind and two solar PV).

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Opportunities in the Indian Power Sector for Foreign Players

Source: India Briefing

The Indian power sector presents opportunities for foreign investors due to increased industrial consumption and a renewable push for electricity generation. India allows 100% FDI into the sector and has plans to monetize assets in the power transmission and power generation sectors. The Electricity Amendment Bill, 2020 if passed, will allow for new market entrants, favoring private sector players, and increasing the scope of green energy. The government is keen to reform the Indian power sector by increasing privatization, inviting technology transfers through greater foreign investment, and reducing the extent of distribution and transmission losses.

The evolution of the Indian power sector, a core pillar of infrastructure, has been the key driver of India’s socio-economic growth. India’s diverse power sector depends on conventional sources like coal, natural gas, and oil to hydro, nuclear energy, wind, solar, and bio-waste etc. The country is both a leader in global energy production and consumption, next only to China and the US.

In recent times, there has been a visible increase in the deployment of clean renewables and grid-connected distributed generation. Given the expanding demand due to rapid industrialization and urbanization, the Indian power sector presents huge opportunities to global investors. It is forecast that the country’s electricity demand will surge at a compound annual growth rate (CAGR) of seven percent to reach 1894.70 Terawatt-hour (TWh) by FY 2022. At the same time, current annual demand outstrips supply by 7.5 percent, implying the need for more capacity installation.

The power sector was temporarily hit due to market disruptions caused by the Covid-19 pandemic, but is on its way to a swift recovery, led by a slew of robust measures – such as the of privatization of electricity distribution companies (discoms) in the Union Territories, the special liquidity infusion of INR 900 billion (US$12.16 billion) into distribution utilities, and the increased focus on consumer rights.

Outlook for the Indian power sector for 2022 looks promising propelled by improved investor sentiment shaped by developments like the implementation of the Production Linked Incentive (PLI) Scheme for solar photovoltaic modules and gradual replacement of coal by other renewable energy sources. The Electricity Amendment Bill 2020, which will delicense power distribution and open the sector to new players, is currently under consideration by industry experts and bureaucratic bodies. A key push of the bill is obligating discoms to buy a certain percentage of electricity from renewable energy sources. Opposition to the bill raises concerns of national regulators overruling state regulators and fears of a concentration of ‘cherry-picked’ private players.

Opportunities for foreign investment in India’s power sector

India’s electricity consumption patterns are indicative of surging demand, presenting opportunities for foreign investors. The industrial sector accounted for 42 percent of total energy consumption in FY 2019. The sector is projected to attract investment worth INR 9.5 trillion (US$135.37 billion) between FY 2019 to FY 2023. In the last two decades, the power sector in India has attracted foreign direct investment (FDI) worth US$15.36 billion, accelerated by the liberalized FDI policy allowing 100 percent on the automatic route.