IoT in Smart Cities Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of IoT in Smart Cities Market
The IoT in smart cities market size was valued at USD 110.56 billion in 2020, and the market is now projected to grow from USD 134.47 billion in 2021 to USD 582.38 billion by 2028, exhibiting a CAGR of 23.3% during the forecast period of 2021-2028.
The pandemic has notably impacted smart city initiatives, affecting manpower, delivery chain, logistics, and low production costs. Governments and personal businesses are focusing on smart solutions to address overcrowding and social distancing in populated cities. The 2019 crisis has accelerated demand for IoT era in smart cities for real-time connectivity and health emergencies. IoT technology can provide substantial information for contact tracing and help maintain cleanliness at some point of crises. Post-pandemic, the market for IoT in smart cities is predicted to develop to make certain a brand new normal way of life.
As urbanization keeps to grow, metro and tier-one cities face demanding situations inclusive of area problems, security risks, and traffic congestion. The demand for strength-efficient technological solutions is increasing, main governments worldwide to cognizance on imposing smart city initiatives. These solutions can cope with real-time situations in cities, lowering their impact on sources. The developing interest in growing clever spaces and sources in metropolitan towns is predicted to drive IoT in smart cities market growth. Smart town solutions are expected to improve dwelling first-class and power performance. For example, Barcelona's government carried out 36.5 million euros via smart car parking and 42.5 million euros through smart water control. Additionally, the town generated 47,000 jobs through IoT offerings and structures in its smart town tasks.
The growing use of 5G technology and its infrastructure presents significant opportunities for various applications. It offers low latency, high speeds, and the ability to connect numerous smart devices, enhancing the operational efficiency of IoT and smart city solutions. Its high capacity and fast connection provide real-time support for analysing citizen behaviour, infrastructure, and connected devices. Governments and IoT technology providers worldwide are focusing on implementing infrastructure, with India's government developing 5G architecture for smart cities. This is expected to drive the demand for 5G technology in smart cities.
Comprehensive Analysis of IoT in Smart Cities Market
The IoT in smart cities market is divided into solutions and services, with the solution segment expected to dominate due to its rapid growth in real-time data insights and information generation. Remote monitoring systems are expected to gain market share for services like weather monitoring, smart utility management, home automation, and air quality management. The market is segmented into smart buildings, smart healthcare, smart energy, smart transportation, public safety, smart infrastructure, and environmental monitoring. Smart buildings are expected to dominate due to the demand for efficient spaces, while public safety solutions are expected to grow due to concerns in metropolitan cities. Smart transportation is expected to grow due to traffic mismanagement, road accidents, and harmful emissions. Smart healthcare is expected to grow exponentially due to real-time health insights through connected devices, with remote assistance and continuous check-ups fuelling demand for these facilities.
The Asia Pacific region lead the IoT in smart cities market share by benefitting a market size of USD 42.05 billion in 2020 due to growing call for smart constructing and space solutions in populated regions. Countries like China, South Korea, Japan, Singapore, and India are investing heavily in IoT solutions, with governments that specialize in enforcing smart city projects to enhance protection and quality of life.
The list of key businesses is as follows: IBM Corporation, Cisco Systems, Inc., Intel Corporation, Huawei Technologies Co., Ltd., Microsoft Corporation, Tech Mahindra Limited, Siemens AG, Robert Bosch GbmH, PTC Ltd., Schneider Electric Infrastructure Ltd., Arm Limited, Quantela Inc., Hitachi High-Tech Corporation, Sierra Wireless, SAP SE, and Deutsche Telekom AG.
Deutsche Telekom AG prolonged its IoT Solution Optimizer ecosystem via taking part with mobile network operators in European international locations. The solution is a cost-effective mobile solution designed for industry verticals consisting of safety services, smart city, and asset tracking, among others.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2017-2028
Base Year
2020
Forecast Period
2021-2028
Historical Period
2017-2019
Unit
Value (USD Billion)
Segmentation
Component; Application; and Region
By Component
Solution
- Location Analytics
- Security Management
- Real-Time Streaming Analytics
- Remote Monitoring System
- Data Management Solutions
- Reporting and Analytics
- Professional
- Managed
Smart Building
Smart Healthcare
Smart Energy
Smart Transportation
Public Safety
Smart Infrastructure
Others (Environmental Monitoring, smart governance, etc.)
By Region
(Component; Application, and Country)
North America (Component; Application, and Country)
- United States (By Application)
- Canada (By Application)
- Mexico (By Application)
- Brazil (By Application)
- Argentina (By Application)
- Rest of South America
- UK (By Application)
- Germany (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Russia (By Application)
- Benelux (By Application)
- Nordics (By Application)
- Rest of Europe
- Turkey (By Application)
- Israel (By Application)
- GCC (By Application)
- North Africa (By Application)
- South Africa (By Application)
- Rest of the Middle East & Africa
- Japan (By Application)
- China (By Application)
- India (By Application)
- South Korea (By Application)
- ASEAN (By Application)
- Oceania (By Application)
- Rest of Asia Pacific
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Porter’s Five Force Analysis
- 4.4. Global Internet of Things (IoT) in Healthcare Key Players Market Share/Ranking, 2023
- 5. Global Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Component (USD)
- 5.2.1. Devices
- 5.2.2. Software
- 5.2.2.1. Remote Device Management
- 5.2.2.2. Data Analytics
- 5.2.2.3. Compliance and Security
- 5.2.2.4. Asset Performance Management
- 5.2.2.5. Others (Data Storage, Electronic Health Record, etc.)
- 5.2.3. Services
- 5.3. By Application (USD)
- 5.3.1. Telemedicine
- 5.3.2. Patient Monitoring
- 5.3.3. Operations and Workflow Management
- 5.3.4. Remote Scanning
- 5.3.5. Sample Management
- 5.3.6. Others (Predictive Device Maintenance, Medication Management, etc.)
- 5.4. By End-User (USD)
- 5.4.1. Laboratory Research
- 5.4.2. Hospitals
- 5.4.3. Clinics
- 5.4.4. Others (Clinical Tests, Pathology, etc.)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. Latin America
- 5.5.3. Europe
- 5.5.4. Middle East & Africa
- 5.5.5. Asia Pacific
- 6. North America Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Component (USD)
- 6.2.1. Devices
- 6.2.2. Software
- 6.2.2.1. Remote Device Management
- 6.2.2.2. Data Analytics
- 6.2.2.3. Compliance and Security
- 6.2.2.4. Asset Performance Management
- 6.2.2.5. Others (Data Storage, Electronic Health Record, etc.)
- 6.2.3. Services
- 6.3. By Application (USD)
- 6.3.1. Telemedicine
- 6.3.2. Patient Monitoring
- 6.3.3. Operations and Workflow Management
- 6.3.4. Remote Scanning
- 6.3.5. Sample Management
- 6.3.6. Others (Predictive Device Maintenance, Medication Management, etc.)
- 6.4. By End-User (USD)
- 6.4.1. Laboratory Research
- 6.4.2. Hospitals
- 6.4.3. Clinics
- 6.4.4. Others (Clinical Tests, Pathology, etc.)
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.1.1. By End-User
- 6.5.2. Canada
- 6.5.2.1. By End-User
- 7. Latin America Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Component (USD)
- 7.2.1. Devices
- 7.2.2. Software
- 7.2.2.1. Remote Device Management
- 7.2.2.2. Data Analytics
- 7.2.2.3. Compliance and Security
- 7.2.2.4. Asset Performance Management
- 7.2.2.5. Others (Data Storage, Electronic Health Record, etc.)
- 7.2.3. Services
- 7.3. By Application (USD)
- 7.3.1. Telemedicine
- 7.3.2. Patient Monitoring
- 7.3.3. Operations and Workflow Management
- 7.3.4. Remote Scanning
- 7.3.5. Sample Management
- 7.3.6. Others (Predictive Device Maintenance, Medication Management, etc.)
- 7.4. By End-User (USD)
- 7.4.1. Laboratory Research
- 7.4.2. Hospitals
- 7.4.3. Clinics
- 7.4.4. Others (Clinical Tests, Pathology, etc.)
- 7.5. By Country (USD)
- 7.5.1. Brazil
- 7.5.1.1. By End-User
- 7.5.2. Mexico
- 7.5.2.1. By End-User
- 7.5.3. Argentina
- 7.5.3.1. By End-User
- 7.5.4. Rest of Latin America
- 8. Europe Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Component (USD)
- 8.2.1. Devices
- 8.2.2. Software
- 8.2.2.1. Remote Device Management
- 8.2.2.2. Data Analytics
- 8.2.2.3. Compliance and Security
- 8.2.2.4. Asset Performance Management
- 8.2.2.5. Others (Data Storage, Electronic Health Record, etc.)
- 8.2.3. Services
- 8.3. By Application (USD)
- 8.3.1. Telemedicine
- 8.3.2. Patient Monitoring
- 8.3.3. Operations and Workflow Management
- 8.3.4. Remote Scanning
- 8.3.5. Sample Management
- 8.3.6. Others (Predictive Device Maintenance, Medication Management, etc.)
- 8.4. By End-User (USD)
- 8.4.1. Laboratory Research
- 8.4.2. Hospitals
- 8.4.3. Clinics
- 8.4.4. Others (Clinical Tests, Pathology, etc.)
- 8.5. By Country (USD)
- 8.5.1. United Kingdom
- 8.5.1.1. By End-User
- 8.5.2. Germany
- 8.5.2.1. By End-User
- 8.5.3. France
- 8.5.3.1. By End-User
- 8.5.4. Scandinavia
- 8.5.4.1. By End-User
- 8.5.5. Rest of Europe
- 9. Middle East & Africa Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Component (USD)
- 9.2.1. Devices
- 9.2.2. Software
- 9.2.2.1. Remote Device Management
- 9.2.2.2. Data Analytics
- 9.2.2.3. Compliance and Security
- 9.2.2.4. Asset Performance Management
- 9.2.2.5. Others (Data Storage, Electronic Health Record, etc.)
- 9.2.3. Services
- 9.3. By Application (USD)
- 9.3.1. Telemedicine
- 9.3.2. Patient Monitoring
- 9.3.3. Operations and Workflow Management
- 9.3.4. Remote Scanning
- 9.3.5. Sample Management
- 9.3.6. Others (Predictive Device Maintenance, Medication Management, etc.)
- 9.4. By End-User (USD)
- 9.4.1. Laboratory Research
- 9.4.2. Hospitals
- 9.4.3. Clinics
- 9.4.4. Others (Clinical Tests, Pathology, etc.)
- 9.5. By Country (USD)
- 9.5.1. GCC
- 9.5.1.1. By End-User
- 9.5.2. South Africa
- 9.5.2.1. By End-User
- 9.5.3. Rest of MEA
- 10. Asia Pacific Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Component (USD)
- 10.2.1. Devices
- 10.2.2. Software
- 10.2.2.1. Remote Device Management
- 10.2.2.2. Data Analytics
- 10.2.2.3. Compliance and Security
- 10.2.2.4. Asset Performance Management
- 10.2.2.5. Others (Data Storage, Electronic Health Record, etc.)
- 10.2.3. Services
- 10.3. By Application (USD)
- 10.3.1. Telemedicine
- 10.3.2. Patient Monitoring
- 10.3.3. Operations and Workflow Management
- 10.3.4. Remote Scanning
- 10.3.5. Sample Management
- 10.3.6. Others (Predictive Device Maintenance, Medication Management, etc.)
- 10.4. By End-User (USD)
- 10.4.1. Laboratory Research
- 10.4.2. Hospitals
- 10.4.3. Clinics
- 10.4.4. Others (Clinical Tests, Pathology, etc.)
- 10.5. By Country (USD)
- 10.5.1. China
- 10.5.1.1. By End-User
- 10.5.2. India
- 10.5.2.1. By End-User
- 10.5.3. Japan
- 10.5.3.1. By End-User
- 10.5.4. Southeast Asia
- 10.5.4.1. By End-User
- 10.5.5. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Amazon, Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Cisco Systems, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. General Electric Company
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. IBM Corporation
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Intel Corporation
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Microsoft Corporation
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. SAP SE
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Koninklijke Philips N.V.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Senseonics
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Wipro
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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