Smart City Platform Market Introduction
The global smart city platform market was valued over $100 Bn in 2018 and is expected to surpass $320 Bn by 2026.
Smart City platform is a result of the ongoing evolution of smart city programme. Smart City platform gives the in-built facility of co-ordinating applications, services and data at multiple platforms. The abilities and functions of these technologies can be blended in multiple ways to make a platform which will achieve the specific needs. The various segments of IoT solutions are cloud security services, software and hardware. In order to achieve the best of services like Amazon, Airbnb and Uber, cities require to develop the appropriate platforms. The plan helps cities to ensure that its environment, economies and services are apt and competent for the future.
Smart City Platform Market Overview
The adoption rate for IoT solutions is at an all-time high, this is increasing the demand for platform providers in the smart city value chain, thereby initiating profitable opportunities for them. It has also led to consultation and architecture designing service to grow gradually. The development of an urban infrastructure depends on competent planning and systematic integration of technology. The consulting and architectural designing service is poised to dominate the service segment of the smart city platforms market. Technological advancements and innovations like smart utilities, smart transportation and smart buildings have fueled the growth of the market. The implementation of hybrid solutions is poised to increase exponentially during the forecast period (2019-2026), owing to a broad array of functionalities and features the solutions provide.
Asia and Pacific is paving way for smart cities and is estimated to account for the highest CAGR as compared to the other regions as there has been a rapid rise in the adoption rate of IoT and increasing demand for smart solutions.
North America is poised to be a major contributor to the smart city platforms market.
Prominent players in the market are Honeywell, Verizon, Oracle, Hitachi, Cisco, Huawei, Itron and Siemens.
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Smart City Platform Market Segmentation:
By Platform Type:
• Connectivity Management Platform
• Integration Platform
• Device Management Platform
• Data Management Platform
• Security Platform
• Deployment and Training
• Consulting and Architecture Designing
• Infrastructure Monitoring and Management
By Delivery Model:
• Onsite segments
• North America
• Latin America
• Rest of World
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• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
• Growth prospects
• SWOT analysis
• Key trends
• Key data points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global smart city platform market on the basis of platform type, service, delivery model, and region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in five key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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