The global smart city platform market revenue was around US$ 186.1 billion in 2022 and is estimated to reach US$ 718.7 billion by 2031, growing at a compound annual growth rate (CAGR) of 16.2% during the forecast period from 2023 to 2031.
A smart city platform is a platform solution tailored to the requirements of municipalities, cities, and countries. It provides the chance to analyze and integrate all data and information on the local conditions in the context of mobility, infrastructure, and public safety. It enables the offering of intelligent services to people via new communication channels.
Market Driving Factors
The surge in government smart city initiatives boosts market growth. For instance, according to Smart Cities Mission in India, they estimated that in total submitted projects under Smart Cities Mission, 6,041 (76%) projects worth ₹1,10,635 crore (US$ 1.3 billion) have been completed, and the remaining 1,894 projects worth ₹60,095 crores (US$ 721 million) will be completed by June 2024.
Digital transformation expands the scope for smart cities which boosts the market growth. The usage of digital solutions, linked devices, and IoT (Internet of Things) systems is rising due to the technology's rapid growth. This rapid increase in technological innovations has opened up the way for digital transformation.
In addition, businesses across the world are increasingly executing new technologies across their verticals to engage customers in captivating and innovative ways. The increased adoption of numerous technologies, such as IoT, mobility, data communications, and artificial intelligence has allowed better connectivity, resulting in complete remodeling of the smart cities ecosystem.
Smart city security issues, a lack of finance, and inadequate infrastructure are limiting this market's expansion.
Regional Analysis
North America is expected to dominate the market. This is due to some nations in the region having sustainable and well-established economies, which delegate them to support strongly in R&D activities, thereby contributing to creating new technologies. Furthermore, network operators in this region continuously fund upgrading and expanding their telecom networks and transition toward 5G infrastructure. This leverages technologies, such as network slicing and cloud edge computing to the adoption of smart cities at a lower price for strategic urban management.
Segmentation Insights
Offerings Insight
The connectivity management platform segment dominates the market. This segment lowers additional price and operational overheads while providing an intelligent network of connected things. They mainly deal with connectivity operations across infrastructure that are carried out through Low Power Wide Area Networks (LPWAN), cellular connectivity, and Wi-Fi. Major companies offering connectivity management platforms specifically for smart cities include IBM, Cisco, and Huawei.
The services segment is estimated to dominate the market over the forecast period. This segment facilitates smooth implementation, development, and maintenance of continuous activities in organizations. Smart city platform providers aid and support partners, customers, teams, and employees with personal training and development. As a result, the increasing requirement for technical expertise for deployment is estimated to support the deployment & training services growth.
Deployment Model Insight
The on-premise segment holds the largest share of the market. This is due to the custom regulatory and monitoring requirements of several cities that need custom solutions.
Application Insight
The smart energy segment is estimated to dominate the market. This is due to the increase in demand for IoT-powered energy applications, such as smart meters and smart energy grids. Furthermore, multiple government initiatives that help the implementation of smart energy solutions are expected to boost the segment growth.
Prominent Companies
Segmentation Outline
The global smart city platform market segmentation focuses on Offerings, Deployment Model, Application, and Region.
By Offerings
By Deployment Model
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SMART CITY PLATFORM MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SMART CITY PLATFORM MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SMART CITY PLATFORM MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SMART CITY PLATFORM MARKET, BY OFFERINGS
5.1 OVERVIEW
5.2 PLATFORM
5.2.1 CONNECTIVITY MANAGEMENT PLATFORM
5.2.2 INTEGRATION PLATFORM
5.2.3 DEVICE MANAGEMENT PLATFORM
5.2.4 SECURITY PLATFORM
5.2.5 DATA MANAGEMENT PLATFORM
5.3 SERVICE
5.3.1 PROFESSIONAL SERVICE
5.3.2 MANAGED SERVICE
6 GLOBAL SMART CITY PLATFORM MARKET, BY DEPLOYMENT MODEL
6.1 OVERVIEW
6.2 ON-PREMISE
6.3 CLOUD
7 GLOBAL SMART CITY PLATFORM MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 SMART INFRASTRUCTURE
7.3 SMART GOVERNANCE AND SMART EDUCATION
7.4 SMART ENERGY
7.5 SMART MOBILITY
7.6 SMART HEALTHCARE
7.7 SMART BUILDINGS
7.8 OTHERS
8 GLOBAL SMART CITY PLATFORM MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL SMART CITY PLATFORM MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 SAP SE
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 ORACLE CORPORATION
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 HITACHI LTD
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 QUANTELA INC
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 TELEFONAKTIEBOLAGET LM ERICSSON
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 MICROSOFT CORPORATION
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 ALIBABA GROUP HOLDING LIMITED
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 GOOGLE LLC
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 BOSCH.IO GMBH
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 INTERNATIONAL BUSINESS MACHINES CORPORATION
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 FUJITSU LIMITED
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 CISCO SYSTEMS INC
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 INTEL CORPORATION
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 AMAZON WEB SERVICES
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 NEC CORPORATION
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 FYBR
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.17 KAA IOT TECHNOLOGIES
10.17.1 OVERVIEW
10.17.2 FINANCIAL PERFORMANCE
10.17.3 PRODUCT OUTLOOK
10.17.4 KEY DEVELOPMENTS
10.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.18 HUAWEI TECHNOLOGIES CO LTD
10.18.1 OVERVIEW
10.18.2 FINANCIAL PERFORMANCE
10.18.3 PRODUCT OUTLOOK
10.18.4 KEY DEVELOPMENTS
10.18.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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