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Smart City ICT Infrastructure Market to Grow by USD 138.6 Billion from 2024-2028, Driven by Rising Smart City Investments and AI-Driven Market Transformation – Technavio

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NEW YORK, Nov. 6, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global smart city information and communication technologies (ict) infrastructure market  size is estimated to grow by USD 138.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  23.74%  during the forecast period. Growing investments in smart cities is driving market growth, with a trend towards proliferation of smart city projects in emerging economies. However, growing adaption of machine-to-machine in various industries  poses a challenge.Key market players include ABB Ltd., Accenture Plc, AT and T, China Mobile Ltd., Cisco Systems Inc., Deutsche Telekom AG, Hitachi Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corp., Microsoft Corp., Nokia Corp., NTT Communications Corp., Oracle Corp., Schneider Electric SE, Siemens AG, Telefonaktiebolaget LM Ericsson, Telefonica SA, Verizon, and Vodafone Group Plc.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Communication, Transportation, Express, Governement, and Education), Component (Smart utilities, Smart transport, Smart home and building, and Others), and Geography (Europe, North America, APAC, Middle East and Africa, and South America)

Region Covered

Europe, North America, APAC, Middle East and Africa, and South America

Key companies profiled

ABB Ltd., Accenture Plc, AT and T, China Mobile Ltd., Cisco Systems Inc., Deutsche Telekom AG, Hitachi Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corp., Microsoft Corp., Nokia Corp., NTT Communications Corp., Oracle Corp., Schneider Electric SE, Siemens AG, Telefonaktiebolaget LM Ericsson, Telefonica SA, Verizon, and Vodafone Group Plc

Key Market Trends Fueling Growth

In developed economies of North America and Europe, smart city projects have been underway for over a decade, with numerous implementations. The Asia-Pacific region is the fastest-growing market for smart city technologies, driven by urban population growth and infrastructure development in emerging countries like India and China. For instance, India plans to implement pilot smart city projects in 100 cities, while China aims to build 500. The Association of Southeast Asian Nations (ASEAN) also supports smart urban development in 26 cities by 2025. Rapid urbanization, particularly in India, necessitates the deployment of smart city infrastructure to help governments, healthcare, and transportation providers respond effectively to urban challenges. With the increasing number of smart devices in these cities, a substantial amount of data will be generated, necessitating analysis for business improvement and innovation. Urban population growth, fueled by mass migration, will continue to expand the smart city market in emerging economies. 

At Spherical Insights & Consulting, we’re excited about the trends shaping the Smart City ICT Infrastructure market. With the Smart Cities Mission, urban areas are transforming into Intellectual Metropolises, integrating Digital Infrastructure for Smart Grid, Water Network, Healthcare, Education, Security, Transport, Express Industry, and more. Telecommunications are advancing with 5G Networks and Fiber-Optic Internet, while Wireless Technologies ensure Operational Efficiency and Citizens’ Welfare. Urban Practitioners leverage Innovative Technology for Smart Energy, Buildings, and Governance. Sustainable Development is at the core, focusing on Clean Environment, Water Supply, Sanitation, and Solid Waste Management. Urban Mobility and Public Transportation are essential for Urbanization and Affordable Housing. Smart Home, Digital Transformation, Cybersecurity, and Data Privacy are key areas of Economic Development. Let’s work together to create Sustainable, Connected, and Efficient Cities. 

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Market Challenges

•         The Smart City Information and Communication Technologies (ICT) market, specifically Machine-to-Machine (M2M) solutions, holds significant potential in various industries such as automotive, manufacturing, energy, healthcare, and military. Operators are challenged to provide unique M2M platforms catering to distinct use cases due to market fragmentation. M2M devices and applications necessitate different connectivity requirements than conventional mobile data devices, leading to potential network overload during emergencies or disasters with millions of connected devices. High signaling traffic from numerous small devices operating on and off the network further complicates matters. However, by optimally utilizing existing spectrum and network assets, profits can be maximized, resulting in reduced customer acquisition and support costs and increased revenue through the integration of new wireless devices and business processes. Integrating M2M devices with cellular M2M techniques is intricate for vendors, requiring redesigning of devices and integration with back-end infrastructure using middleware and enterprise application software. Factors like network overload, poor protocol implementation, and emergencies or disasters can impact the growth of the M2M market during the forecast period.

•         The Smart City ICT infrastructure market is a dynamic and growing industry focused on enhancing operational efficiency and improving citizens’ welfare in urban areas. This involves the deployment of innovative technology in sectors such as energy, buildings, transportation, governance, and residential living. Key challenges include ensuring a clean environment with sustainable solutions for water supply, sanitation, and solid waste management. Urban mobility and public transportation are also crucial, as is the provision of affordable housing, health, and education. Digital transformation is at the heart of this revolution, with cybersecurity and data privacy essential for protecting citizens’ information. Economic development, urbanization, and industrial transformation are also major drivers, with energy solutions, value-added resellers, investors, consulting firms, and venture capitalists playing key roles in driving innovation. Silicon Valleys and Intellectual Metropolises are hubs for this technological urban evolution, shaping the future of our cities.

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Segment Overview 

This smart city information and communication technologies (ict) infrastructure market report extensively covers market segmentation by

Application 1.1 Communication1.2 Transportation1.3 Express1.4 Governement1.5 EducationComponent 2.1 Smart utilities2.2 Smart transport2.3 Smart home and building2.4 OthersGeography 3.1 Europe3.2 North America3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Communication-  The communication segment of the global smart city ICT infrastructure market encompasses wireless networks, broadband infrastructure, IoT, smart grid, digital signage and displays, and public safety and emergency management technologies. Wireless networks serve as the foundation for modern smart city communications, enabling citizens and businesses to access information and services citywide. High-speed broadband connectivity is essential for numerous smart city applications, such as smart transportation, buildings, and energy. The IoT connects various devices and sensors, allowing city officials to monitor and manage city functions. The smart grid optimizes energy consumption, while digital signage and displays offer interactive communication channels. Public safety and emergency management technologies enhance response capabilities during crises. Overall, these communication solutions facilitate effective city-stakeholder interaction and enable city officials to manage various city aspects, fueling the demand for communication systems in the smart city market.

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Research Analysis

The Smart City Information and Communication Technologies (ICT) infrastructure market refers to the advanced digital systems and networks that enable the development of smart cities. These cities leverage ICT to optimize urban services and improve the quality of life for residents. Key areas of focus include Smart Grid for energy management, Smart Water Network for water conservation, Smart Healthcare for efficient healthcare delivery, Smart Education for digital learning, Smart Security for public safety, Smart Transport for efficient mobility, and the Express Industry for logistics optimization. Digital Infrastructure, Population Expansion, and the Smart Cities Mission are driving the demand for these technologies. Urban practitioners, Silicon Valleys, Intellectual Metropolis, and Innovative Technology are at the forefront of this transformation. Smart Energy, Smart Buildings, Smart Transportation, Smart Governance, Smart Residents, Sustainable Development, and Urban Landscapes are other essential components of a smart city. The ultimate goal is to create a city that is operationally efficient, citizen-centric, and sustainable.

Market Research Overview

The Smart City Information and Communication Technologies (ICT) infrastructure market refers to the deployment of advanced technologies and digital solutions to enhance urban living and promote sustainable development. Spherical Insights & Consulting reports that the market is witnessing significant growth due to the integration of various sectors such as Smart Grid, Smart Water Network, Smart Healthcare, Smart Education, Smart Security, and Smart Transport. The express industry, digital infrastructure, and telecommunications are also playing a crucial role in this transformation. Population expansion and government initiatives like the Smart Cities Mission are driving the demand for ICT infrastructure. Innovative technologies like 5G networks, fiber-optic internet, and wireless technologies are being adopted to ensure operational efficiency and improve citizens’ welfare. Urban practitioners and Silicon Valleys are collaborating to create Intellectual Metropolises, where smart energy, smart buildings, and smart transportation are becoming the norm. Smart Governance, smart residents, sustainable development, and urban landscapes are other areas where ICT infrastructure is making a significant impact. Infrastructure development, clean environment, water supply, sanitation, solid waste management, urban mobility, public transportation, affordable housing, health and education, smart home, and digital transformation are all benefiting from this technological revolution. Value-added resellers, investors, consulting firms, and venture capitalists are also showing interest in the market, recognizing the potential for economic development and industrial transformation. However, challenges such as cybersecurity, data privacy, and affordability remain, requiring ongoing attention and innovation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationCommunicationTransportationExpressGovernementEducationComponentSmart UtilitiesSmart TransportSmart Home And BuildingOthersGeographyEuropeNorth AmericaAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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‘Global Top-tier’ KT&G Expands Into Europe full-scale, Starting with Romania

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SEOUL, South Korea, Nov. 7, 2024 /PRNewswire/ — KT&G (KRX:033780), a global ‘top-tier’ cigarette manufacturer, has begun its expansion into Europe, starting with Romania in April, followed by Portugal, Andorra, and Spain with its representative superslim brand ESSE.

KT&G is South Korea’s leading company holding the No. 1 position in each of its Next Generation Products (NGP), Health Functional Foods, and Combustible Cigarettes (CC) businesses. To further consolidate its position as a global top-tier player, KT&G is accelerating overseas growth in its three core growth business areas, NGP, Health Functional Food, and Global CC.

To this end, KT&G is currently focusing on expanding its global business with subsidiaries or offices in 10 countries around the world, including Europe, Indonesia, Taiwan and Kazakhstan. Last year, the company introduced a company-in-company (CIC) system for each region with the aim of expanding overseas markets more aggressively and expanding local distribution coverage, and is accelerating growth in Eurasia and Asia-Pacific. As of the end of ’23, KT&G sold about 717 brands with 5,184 employees in 143 countries around the world, strengthening its position as a global top-tier company.

In particular, KT&G is expanding direct management from production to marketing and sales by building a localized value chain centered on CICs in each overseas region. To this end, KT&G began construction of a new factory in Almaty, Kazakhstan, last year and has begun construction of the second and third factories in Indonesia, in addition to its existing factories there, speeding up its efforts to secure a global production base. In particular, once the construction of the second and third factories in Indonesia is completed, Indonesia will become the largest overseas production base for KT&G’s business and a key growth engine for achieving its mid- to long-term vision.

The fruits of growth investments for global business expansion efforts are already being realized. Last year, KT&G’s overseas sales of cigarettes reached 53.2 billion pieces, a new record for the company. This year’s second quarter was also the largest quarterly sales quarter, and according to analysts’ forecasts, overseas cigarettes are expected to break the record again in the third quarter.

KT&G is not resting on its laurels, and is preparing for new growth by establishing its status as a “Global Top-tier” company in accordance with the “2027 KT&G Vision,” which was newly established in 2023. KT&G is strengthening its intrinsic competitiveness and structural innovation centered on its three core businesses, and has set ‘50% of sales from overseas business’ and ‘60% of sales from non-tobacco business’ as its main business KPIs for 2027, and is focusing its company-wide capabilities to achieve them. Through this, KT&G plans to surpass the No. 1 ranking in Korea and achieve the Global Top 4.

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Big C Teams Up with Vpon to Elevate Tourist Shopping Experience

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BANGKOK, Nov. 7, 2024 /PRNewswire/ — Big C Supercenter is taking major strides to become the leading destination for tourists seeking Thai souvenirs. Partnering with Vpon AI Big Data Group, a specialist in online-to-offline (O2O) solutions, Big C aims to enhance its reach, particularly in the Chinese market, and solidify its global presence.

Big C’s Strategic Vision:

 

Leader in Thai Souvenirs: Big C welcomes millions of travellers annually, achieving impressive sales across 5 flagship branches in major cities and 45 convenient locations in secondary destinations. As the top choice for authentic Thai shopping, Big C is committed to delivering a world-class experience for every traveller’s journey.O2O Marketing Focus: With Vpon’s expertise, Big C is building a strong online community in China, driving offline engagement and expanding to other tourist segments next year.WeChat Mini Program: To cater to mainland Chinese customers, Big C has launched a WeChat Mini Program, allowing customers to place orders directly from home in China. Whether they choose doorstep delivery, pick-up at a Big C store, or hotel delivery, this service provides unparalleled convenience, especially for those with limited time.Tailored Offerings: Big C is enhancing its branches with faith-based attractions like the Siva God shrine at Rajdamri, customised product ranges, and multilingual support for a seamless tourist experience.

 

 

Promotions and Pricing: Iconic shopping bags and targeted promotions during peak seasons like Chinese New Year and Golden Week will attract and engage tourists.Next Step: Expanding Thai products through platforms like WeChat mini program and promoting Thai culture, attractions, and cuisine via video content in China.

https://youtu.be/6oIMnep8uKs
https://youtu.be/jY41ks1bbgc

Big C kick-started their global digital transformation journey strongly by choosing China as the first destination, and appointed Vpon as the global tourist activation consultant.

Travel Data Tech in Retail: To precisely target Chinese and international tourists, Vpon developed a travel data dashboard uniquely for Big C. Supported by the accumulation of massive data from 900 million mobile devices, the dashboard visualises real-time insights tailored to their business needs. These valuable insights empower Big C to plan data-driven strategies for tourist activation, identifying highly potential customers through a deep understanding of traveller behaviour, preferences, travel trend and pattern.Localised social strategies: To achieve a successful China market entry, Vpon built a localised social image for Big C on mainstream Chinese social channels including Xiaohungshu, Douyin and WeChat, and achieved a viral success of 24 million total impression in just one week for Big C’s golden week promotion, showcasing a successful cultural blend in and community building.O2O strategies: To drive users from online to physical stores, and from stores to online channels, Vpon and Big C developed seasonal campaigns, personalised ad targeting and community engagement by integrating multi-dimensional data, including Big C’s own mobile and e-commerce data, in-store analysis, customer profile, and traveller insight. The actionable items are further tailored to reach individual audiences’ pre-trip, during-trip and after-trip, ensuring a rich brand presence throughout the whole journey.Influencers engagement: With the support of an extensive influencers data dashboard, Big C can analyse and select high-quality influencers around the world in one-click. Vpon has connected Big C with top-tier Xiaohongshu influencers with over 1 million followers, boosting the key words “Big C” and “travelling to Thailand” to the Viral Hot Topic. The strategic influencer marketing strategy successfully imprints Big C as one of the top-of-mind Thailand brands among international tourists.

Vpon AI Big Data Group is a leading big data company providing mobile data solutions with AI-powered technologies. Supported by the accumulation of massive data from 900 million mobile devices and a daily processing rate of 21 billion transborder data, Vpon integrates premium media resources across APAC, providing clients with all-rounded data and AI solutions, including data analytics services, AI-enhanced results, corporate digitalization, brand awareness and cross border marketing solutions etc., providing strong tools to aid clients in raising brand awareness and generate leads through data.

Vpon has obtained ISO 27001 (Information Security Management) and ISO 27701 (Privacy Information Management) Certification, by the British Standard Institution (BSI).

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SOURCE Vpon Big Data Group

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Alkami Announces Pricing of Secondary Offering of Common Stock by Selling Stockholders

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PLANO, Texas, Nov. 6, 2024 /PRNewswire/ — Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami” or the “Company”), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced the pricing of the previously announced underwritten secondary offering (the “Offering”) of an aggregate of 7,500,000 shares of the Company’s common stock to be sold by entities affiliated with General Atlantic (AL), L.P., S3 Ventures Fund III, L.P., George B. Kaiser and Brian R. Smith (collectively, the “Selling Stockholders”). The Offering is expected to close on November 8, 2024, subject to the satisfaction of customary closing conditions. The underwriter has a 30-day option to purchase up to an additional 1,125,000 shares of the Company’s common stock from the Selling Stockholders at the public offering price, less underwriting discounts and commissions.

The Selling Stockholders will receive all of the net proceeds from the Offering. The Company will not sell any shares of its common stock in the Offering and will not receive any of the proceeds from the sale of shares of the Company’s common stock in the Offering.  

J.P. Morgan Securities LLC is acting as the underwriter and sole book-running manager for the Offering.

The underwriter may offer the shares of common stock from time to time for sale in one or more transactions on the Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to their right to reject any order in whole or in part.

The Offering is being made pursuant to an automatically effective shelf registration statement on Form S-3, which has been filed by the Company with the Securities and Exchange Commission (the “SEC”) and became effective on August 8, 2024. The Offering is being made only by means of a free writing prospectus, prospectus supplement and accompanying prospectus that form a part of the registration statement. The prospectus supplement and the accompanying prospectus relating to and describing the terms of the Offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplement, when available, and accompanying prospectus relating to the Offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities, in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Alkami
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, payment security, and data and marketing solutions.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking” statements relating to the Offering and expected closing date. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as “expects,” “believes,” “plans,” or similar expressions and the negatives of those terms. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward-looking statements. Factors that may materially affect such forward-looking statements include: our limited operating history and history of operating losses; our ability to manage future growth; our ability to attract new clients and retain and expand existing clients’ use of our solutions; the unpredictable and time-consuming nature of our sales cycles; our ability to maintain, protect and enhance our brand; our ability to accurately predict the long-term rate of client subscription renewals or adoption of our solutions; our reliance on third-party software, content and services; our ability to effectively integrate our solutions with other systems used by our clients; intense competition in our industry; any downturn, consolidation or decrease in technology spend in the financial services industry, including as a result of recent closures of certain financial institutions and liquidity concerns at other financial institutions; our ability and the ability of third parties on which we rely to prevent and identify breaches of security measures (including cybersecurity) and resulting disruptions of our systems or operations and unauthorized access to client customer and other data; our ability to successfully integrate acquired companies or businesses; our ability to comply with regulatory and legal requirements and developments; our ability to attract and retain key employees; the political, economic and competitive conditions in the markets and jurisdictions where we operate; our ability to maintain, develop and protect our intellectual property; our ability to respond to evolving technological requirements to develop or acquire new and enhanced products that achieve market acceptance in a timely manner; our ability to estimate our expenses, future revenues, capital requirements, our needs for additional financing and our ability to obtain additional capital; the completion of the Offering; the satisfaction of customary closing conditions related to the Offering; and other factors described in our filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Investor Relations Contact
Steve Calk
ir@alkami.com

Media Relations Contacts
Marla Pieton
marla.pieton@alkami.com 

Valerie Kerner
alkami@fullyvested.com 

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SOURCE Alkami Technology, Inc.

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