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 size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Smart City Platform Market
A smart city platform is a technological infrastructure that plays an essential role in the transformation of urban areas into intelligent, efficient, and sustainable hubs. It serves as the digital nerve center that integrates various data sources and systems to enhance the quality of life. It enables cities to collect and analyze data from numerous sources, such as sensors, the Internet of Things (IoT) devices, and public services, to make informed decisions and enhance overall operational efficiency. It provides a unified framework for city management and facilitates services, such as traffic management, waste management, energy optimization, and public safety. As it assists in reducing resource consumption and enhancing the well-being of the citizens, the demand for smart city platforms is increasing across the globe.
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.
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What are the growth prospects and trends in the smart city platform industry?
At present, the rising need for urban development and resource optimization represents one of the major factors driving the market positively. In addition, the increasing adoption of smart city platforms, as they enhance public transportation systems and reduce congestion, is contributing to the growth of the market.
Moreover, the growing demand for efficient urban mobility solutions is offering a favorable market outlook. Besides this, the increasing awareness about environmental sustainability is impelling the growth of the market.
Furthermore, the emergence of fifth generation (5G) technology worldwide is bolstering the growth of the market.
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
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 (ATT 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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