IMARC Group, a leading market research company, has recently releases report titled “Smart City Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart city platform market trends, share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Smart City Platform Market?
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.
What is Smart City Platform?
Smart city platform represents open technology frameworks that combine big data and predictive analysis to connect stakeholders with the insights, services, and information they need and offer a holistic view of the overall state and performance of the city. They can be of numerous types, such as connectivity management platforms, device management platforms, integration platforms, security management platforms, data management platforms, etc. These smart city platform categories perform several functions, including remote asset monitoring, performance management, application enablement, data management, etc. Consequently, they find extensive applications in smart mobility or transportation, smart utilities, smart healthcare, and other similar establishments.
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What are the growth prospects and trends in the smart city platform industry?
The rising requirement for sustainable infrastructure, on account of the growing global population and rapid urbanization, is primarily driving the smart city platform market. Additionally, the launch of favorable policies by the government bodies aimed at promoting the deployment of cloud-based services and smart city initiatives is acting as another significant growth-inducing factor.
Besides this, the increasing adoption of the internet of things (IoT) and artificial intelligence (AI) technologies and the elevating amount of data generation are also positively influencing the global market.
Moreover, the expanding industrial and organizational automation and the escalating research and development (R&D) activities for introducing advanced technological frameworks that will improve the quality of life of citizens and enhance the natural environment are anticipated to augment the smart city platform market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Market 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
Who are the key players operating in the industry?
The report covers the major market players including:
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.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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