The Smart City Platform Market size is estimated at USD 42.01 billion in 2024, and is expected to reach USD 192.22 billion by 2029, growing at a CAGR of 35.55% during the forecast period (2024-2029).
The COVID-19 pandemic heightened the need to invest in connectivity infrastructure and solutions that alleviate public health and safety concerns. The demand for safe and secure transport and connected applications rose to make systems safer by providing real-time warnings about crowding, access problems, or delays to help people make better informed public travel decisions.
The Smart City Platform Market is highly competitive, with many companies providing such platforms across the globe. The market players are consistently evolving and innovating the solutions they provide to attract most 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.
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