What is Smart City Platforms Market Scope?
A smart city is a system of systems. These systems can include various facilities like building automation systems, smart transportation systems, smart lighting systems, security and control systems, intelligent grids, renewable power, water treatment, and supply, etc. Smart governance is one of the characteristics of smart cities. Smart city platform increases the efficiency of government programs and helps them reach their beneficiaries. Increasing internet penetration plays a crucial role in establishing smart city platforms, as they enable IoT connections that act as a base for smart city platforms.
The Smart City Platforms market study is being classified, by Application (Smart Mobility/Transportation, Extended City Services, Smart Utilities, Infrastructure Management, Environment Planning and Other) and major geographies with country level break-up.
The smart city platform market is moderately fragmented with many companies providing such platforms across the globe. The market players are consistently evolving and innovating the solutions provided by them to attract the majority of the market share globally. Companies are spending huge sums of money on R&D to innovate new solutions by integrating different technologies, making it a highly competitive market. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Smart City Platforms market throughout the predicted period.
AWS (United States), Bosch.io (Germany), Cisco (United States), Ericsson (Sweden), Fujitsu (Japan), Google (United States), IBM (United States), Microsoft (United States)Oracle (United States) and SAP (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Alibaba (China), CIMCON Lighting (United States), Fybr (United States), Hitachi (Japan), Huawei (China), Intel (United States), KaaIoT Technologies (United States), NEC (Japan), Schneider Electric (France), SICE (Spain), Siemens (United States), Sierra Wireless (Canada), Siradel (France), Smarter City Solutions (Australia), thethings.iO (United States) and Ubicquia (United States).
Analyst at AMA have segmented the market study of Global Smart City Platforms market by Type, Application and Region.
On the basis of geography, the market of Smart City Platforms has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
November 2019 - Microsoft announced several new features in Azure to accelerate the development and success of smart city solutions. The majority of the updates involve Azure Maps. For instance, the cloud solution now uses weather services to give cities an easy way to integrate real-time weather data into their applications. It also integrates with the mobility-as-a-service company, Moovit, and visual assistance app Aira to make public transport more accessible to blind or low-vision users.
Influencing Market Trend
- Increasing adoption of IoT technology for infrastructure management and city monitoring
- Digital transformations driving smart cities
- Preference for platforms over standalone solutions
- Exponentially rising urban population actuating smart management
- Industrial and commercial deployments of smart city platforms
- The rise in smart city initiatives worldwide
- The complicated and costly infrastructure of smart city platforms
- Possibility of privacy and security breaches in smart city platforms
- Disruption in logistics and supply chain of IoT devices
Key Target AudienceGovernment Regulatory Bodies, Government Research Organization, Private Research Organization and Others
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