Smart City Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Smart City Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global smart city platform market size reached US$ 22.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 158.5 Billion by 2028, exhibiting a growth rate (CAGR) of 36.3% during 2023-2028.

Smart cities comprise systems, such as smart lighting, building automation, security and access control, emergency management, intelligent grids, renewable power, water treatment and supply, and transportation. These systems are utilized by smart city platforms to help integrate information from these disparate systems into a unified whole and provide a holistic view of the overall performance and state of the city and its various functions. Smart city platforms can be deployed in a private, public, or hybrid cloud via a remote server or on-premises for analytics, remote asset monitoring, performance management, decision support, and presentation components.

Smart City Platform Market Trends:
At present, there is a rise in the need for sustainable infrastructure on account of the expanding global population and rapid urbanization. This is boosting the adoption of smart cities worldwide, which, in turn, is driving the demand for smart city platforms across the globe. In line with this, governing agencies of different economies are implementing favorable policies and regulations to deploy cloud-based services and facilitate their smart city initiatives. Apart from this, the massive amounts of data generated with the rising adoption of the Internet of Things (IoT) and artificial intelligence (AI) technologies are offering lucrative opportunities for the applications of smart city platforms. These platforms provide context to convert the data generated into actionable, contextualized information that can be used to reduce energy consumption and operational costs. Furthermore, the new generation of smart city platforms offers real economic benefits and the potential to improve the quality of life of citizens while enhancing the natural environment. This is anticipated to influence the market positively in the next few years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart city platform market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on platform type, deployment mode and application.

Breakup by Platform Type:

Connectivity Management Platform
Integration Platform
Device Management Platform
Data Management Platform
Security Management Platform

Breakup by Deployment Mode:

On-premises
Cloud-based

Breakup by Application:

Smart Mobility/Transportation
Smart Security
Smart Utilities
Smart Governance
Smart Infrastructure
Smart Healthcare
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc.), Cisco Systems Inc., Hitachi Ltd., Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, NEC Corporation (AT&T Inc.), Oracle Corporation, SAP SE, Siemens AG and Telefonaktiebolaget LM Ericsson.

Key Questions Answered in This Report

1. How big is the global smart city platform market?
2. What is the expected growth rate of the global smart city platform market during 2023-2028?
3. What are the key factors driving the global smart city platform market?
4. What has been the impact of COVID-19 on the global smart city platform market?
5. What is the breakup of the global smart city platform market based on the platform type?
6. What is the breakup of the global smart city platform market based on the deployment mode?
7. What are the key regions in the global smart city platform market?
8. Who are the key players/companies in the global smart city platform market?