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Smart City Platform Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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The global smart city platform market was valued over $100 Bn in 2018 and is expected to surpass $320 Bn by 2026. The Smart City market is growing exponentially, in less time, smart cities has increased from minimum 24 to over 100 now. It is expect
Smart City Platform Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
The global smart city platform market was valued over $100 Bn in 2018 and is
expected to surpass $320 Bn by 2026. The Smart City market is growing
exponentially, in less time, smart cities has increased from minimum 24 to over 100
now. It is expected that about 600 cities are predicted to be smart cities in upcoming
years.
Rising investment for smart city platforms is a plausible result of the sustained
development of it's programs. Smart city platform concept enables to connect the
integration of urban services and development of technology that will enable cities
to become smart by capturing and leveraging data to facilitate better decisions. In
the realm of civil infrastructure, smart city platforms is an element of a broader
transformation that is headed by the Internet of Things (IoT) solutions and alternate
technologies.
In the realm of urban infrastructure and services, smart city platforms is an element
of a broader transformation that is being driven by the deployment of the Internet of
Things (IoT) solutions and other smart city technologies.
An enormous opportunity for vendors of smart city platform provider is open due to
the implementation of integrated IoT solutions in a smart city. The various segments
of IoT solutions are cloud security services, software and hardware. 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.
Consulting and Architecture Designing Service is Estimated to Hold Highest Market
Share
Increasing initiatives in the smart city space to make the cities safer and sustainable
are driving the demand for this technology, aforementioned has resulted in the need
for consultation and architecture designing service to grow steadily.
As per FutureWise's study, the consulting and architectural designing service is
poised to dominate the service segment of the smart city platforms market.
The development of an urban infrastructure depends on competent planning and
systematic integration of technology.
Surge in Demand for Hybrid Delivery Models
Hybrid delivery model offers security platform along with connectivity management
platform, this model benefits the onshore as well as offshore.
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.
APAC is poised to Account for Highest CAGR
APAC 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. In total, the investment on IoT in
APAC was $10 Bn in 2014 and is estimated to reach $59 Bn by 2020. Singapore and
South Korea are estimated to be among the top 5 global markets to adopt IoT.
There have been aggressive initiatives by the governments of countries such as China
and India in the smart city space.
North America is poised to be a major contributor to the smart city platforms
market.
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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
By Service:
• Deployment and Training
• Consulting and Architecture Designing
• Infrastructure Monitoring and Management
By Delivery Model:
• Onsite segments
• Offshore
• Hybrid
By Region:
• Europe
• North America
• APAC
• Latin America
• Rest of World
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Takeaways
• 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
Essential Questions Answered
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How rapidly will the smart city platform market grow globally?
What are the key factors influencing or restraining growth of smart city
platform market?
Key regions to focus on?
Who are the key players in the smart city platform market space?
Inquire further details about this report at: [email protected]esearch.com
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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