The Global Smart City Platforms Market Size is Expected to Grow from USD 104.6 Billion in 2018 to USD 223.3 Billion By 2023, at a CAGR of 16.4%
A huge opportunity for platform provider vendors is available due to the implementation of integrated Internet of Things (IoT) solutions in a smart city. These IoT solutions have various segments, such as hardware, software, and cloud security services. Presently, platform providers have to install, manage, and maintain technological solutions provided for smart cities in an integrated platform on a regular basis.
Platform providers act as intermediaries for implementing a particular technology in the smart city environment. Large system integrators are required in the smart city platforms market for carrying out various processes, such as process automation, security and surveillance systems, Environmental Management Systems (EMSs), and naval systems, including various industrial control systems' projects.
Moreover, the value addition in this market is driven by services, which provides an open opportunity for all types of platform providers, such as major IT vendors, infrastructure vendors, IT consultants and integrators, and various independent local integrators.
With the increase in the rate of adoption of IoT, the role of platform providers in the smart city value chain increases, thereby opening up lucrative opportunities for them.
Among services, the consulting and architecture designing segment is expected to account for the highest market share during the forecast period
The consulting and architecture designing segment is expected to account for the highest market share during the forecast period. Technological innovations across the smart city space have resulted in the consulting and architecture designing service to grow constantly.
Competent planning and consulting services, along with architecture designing are important for the development of smart city infrastructures, as these can provide cost-optimized facilities to the city.
Among delivery models, the hybrid segment is expected to dominate the market during the forecast period
The hybrid delivery model is a highly adopted model among other deployment models, owing to the connectivity management platform and security platform. In this delivery model, the benefits of onshore, as well as offshore can be gained.
The overall adoption of hybrid solutions is expected to increase during the forecast period, due to a wide range of functionalities and core features the solutions provide.
Among regions, Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period
APAC is expected to hold the highest CAGR among all regions, owing to the increasing adoption rate of IoT and rising demand for intelligent and smart solutions, while North America is expected to be the major contributor to the smart city platforms market.
Increasing citizen engagement is the major growth factor expected to drive the growth of the smart city platforms market.
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.2.1 Market Segmentation 1.3 Years Considered for the Study 1.4 Currency 1.5 Stakeholders
2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.2 Primary Data 22.214.171.124 Breakup of Primary Profiles 126.96.36.199 Key Industry Insights 2.2 Market Breakup and Data Triangulation 2.3 Market Size Estimation 2.4 Factor Analysis 2.5 Assumptions for the Study 2.6 Limitations of the Study
3 Executive Summary
4 Premium Insights 4.1 Attractive Market Opportunities in the Global Market 4.2 Smart City Platforms Market, By Platform Type, 2018 4.3 Asia Pacific: Market By Delivery Model and Service, 2018
5 Market Overview and Industry Trends 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 188.8.131.52 Priority to Platform Providers Compared to Standalone Solutions 184.108.40.206 Increase in Demand for Platform Providers 220.127.116.11 Rising Urban Population and ITs Management 18.104.22.168 Increasing Adoption of the IoT Technology 5.2.2 Restraints 22.214.171.124 High Capital Expenditure 126.96.36.199 Inefficient Utilization of Resources in Developing Countries 5.2.3 Opportunities 188.8.131.52 Fast Growing Economies 184.108.40.206 Inception of the 5G Technology 220.127.116.11 Government Initiatives for Smart Cities 5.2.4 Challenges 18.104.22.168 Inefficient Telecom and Networking Infrastructure in Developing Countries 22.214.171.124 No Standardized Architecture for Smart City Platforms 5.3 Value Chain Analysis
6 Smart City Platforms Market, By Platform Type 6.1 Introduction 6.2 Connectivity Management Platform 6.2.1 Connectivity Being Backbone for Smart City Infrastructures Led to Prominent Market Share of Connectivity Management Platform 6.3 Integration Platform 6.3.1 Multiple Software and Hardware Deployments to Need Agile and Robust Integration 6.4 Device Management Platform 6.4.1 Large Number of Hardware Implementations to Involve Highly Effective Device Management Platform 6.5 Data Management Platform 6.5.1 Large Amount of Data Generation Throughout Smart Cities to Gain Strong Momentum of Data Management Platform in Coming Years 6.6 Security Platform 6.6.1 Cybersecurity Being Primary Concern for Smart City Stakeholders to Keep the Market for Security Platforms Ongoing
7 Smart City Platforms Market, By Service 7.1 Introduction 7.2 Consulting and Architecture Designing 7.2.1 Technological Innovations Across Smart City Arena Led to Constant Growth of Consulting and Architecture Designing Service 7.3 Infrastructure Monitoring and Management 7.3.1 Infrastructure Monitoring Management Being an Ongoing Service to Contribute Continuous Revenue Stream 7.4 Deployment and Training 7.4.1 Deployment of Technical Expertise to Be One of the Key Factors Affecting the Growth of Deployment and Training Services
8 Smart City Platforms Market, By Delivery Model 8.1 Introduction 8.2 Offshore 8.2.1 Rising Trend in Cloud-Based Services and Growing Need to Save Operation Expenditures Led to Growth of Offshore Delivery Model Exponentially 8.3 Hybrid 8.3.1 Low Cost and Ease of Implementation Led to Preference of Hybrid Delivery Model 8.4 Onsite 8.4.1 Rising Need for Cost-Efficient Operations Led to Low Demand for Onsite Delivery Model Compared to Hybrid and Offshore Delivery Models
9 Smart City Platforms Market, By Application 9.1 Smart Transportation 9.1.1 Advancement of New Technologies in Transportation Infrastructure 9.1.2 Use Case Scenarios 9.2 Public Safety 9.2.1 Growing Focus Toward Public Safety Solutions By Government 9.2.2 Use Case Scenarios 9.3 Smart Utilities 9.3.1 to Utilize Resources Efficiently Utmost Care to Be Taken for Augmenting Smart Utilities Sector 9.3.2 Use Case Scenarios 9.4 Infrastructure Management 9.4.1 Growing Need to Optimize Energy Consumption 9.4.2 Use Case Scenarios 9.5 Citizen Engagement 9.5.1 Smart Healthcare, E-governance, Smart Environmental Monitoring, and Smart Street Lighting to Be the Key Areas for Citizen Engagement 9.5.2 Use Case Scenarios
10 Smart City Platforms Market, By Region 10.1 Introduction 10.2 North America 10.2.1 United States 10.2.1.1 Existing Vast Smart City Initiatives in Terms of Innovations 10.2.2 Canada 10.2.2.1 Growing Awareness Toward Smart City Developments 10.3 Europe 10.3.1 United Kingdom 10.3.1.1 Highly Adaptable Region in Terms of Technology Acceptance 10.3.2 France 10.3.2.1 Strong Government Regulations to Support Smart City Initiatives 10.3.3 Germany 10.3.3.1 Proper Utilization of Existing Infrastructure to Transform Conventional Cities to Smart Cities 10.4 Asia Pacific 10.4.1 China 10.4.1.1 Growing Proliferation and Acceptance of Technology to Support China Significantly 10.4.2 Japan 10.4.2.1 Technically Sound IT Infrastructure Enabled Japan to Witness Prominent Growth 10.4.3 South Korea 10.4.3.1 Test-Bed for Large Number of Technology Innovations to Support Significantly 10.5 Middle East and Africa 10.5.1 Middle East 10.5.1.1 Strong Shift Toward Technology Utilization Led to Rapid Progress of the Middle East Countries 10.5.2 Africa 10.5.2.1 Technology Awareness Led to More Contribution of African Countries Toward Smart Cities 10.6 Latin America 10.6.1 Mexico 10.6.1.1 Favourable Government Regulations to Support Smart City Initiatives 10.6.2 Argentina 10.6.2.1 Increasing Need to Promote the Use of Technology 10.6.3 Brazil 10.6.3.1 One of the Fastest-Growing Economies
11 Competitive Landscape 11.1 Microquadrant Overview 11.1.1 Visionary Leaders 11.1.2 Innovators 11.1.3 Dynamic 11.1.4 Emerging 11.2 Ranking of Key Players for the Smart City Platforms Market, 2018 11.3 Competitive Benchmarking 11.3.1 Product Offering 11.3.2 Business Strategy
12 Company Profiles 12.1 Cisco 12.2 IBM 12.3 Microsoft 12.4 Hitachi 12.5 Siemens 12.6 Schneider Electric 12.7 Huawei 12.8 Intel 12.9 GE 12.10 AT&T 12.11 Oracle 12.12 Ericsson 12.13 Nokia 12.14 Itron 12.15 Verizon 12.16 SAP 12.17 Honeywell 12.18 Purple