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Smart city platforms include connectivity management platforms, integration platforms, device management platforms, security platforms, and data management platforms, according to Markets and Markets, which is expected to grow from $104.
6 billion in 2018 to $222.
3 billion by 2023, at a CAGR of 16.
4%
during the period.
Due to the growing implementation of integrated IoT solutions in smart cities, the adoption rate of smart city solutions will further grow, providing more opportunities
for platforms and service providers.
In terms of platform type, connectivity management platforms will grow
at the highest CAGR during the forecast period.
A connectivity management platform enables enterprises to deploy end-to-end connectivity solutions? for seamless integration
.
The platform reduces additional costs and operational overhead while providing an intelligent internetwork
.
Connectivity management platforms are estimated to have the highest market share in 2018 and will be characterized
by strong growth in the coming years.
This dominance is characterized by continued smart city development, especially in developing regions
.
In terms of service type, the consulting and architectural design segment is expected to grow rapidly during
the forecast period.
Sound planning and consulting services as well as architectural design are important for the development of smart city infrastructure, as these can provide cost-optimized facilities
for cities.
Technological innovations in smart city spaces have enabled the continuous development of consulting and architectural design services
.
In terms of region, North America is expected to account for the largest market size during the forecast period, mainly driven by the growing demand for smart city solutions such as connected vehicles, building energy optimization, and distribution management systems
.
Moreover, the United States is one of
the leading countries that have taken smart city initiatives and made significant progress in the smart city space.
Currently, the deployment of smart city solutions in different fields such as smart transportation, smart buildings, smart utilities, and smart citizen services has risen
in the Asia-Pacific region.
From the perspective of platform service providers, major and emerging market players include Cisco (US), IBM (US), Microsoft (US), Hitachi (Japan), Siemens (Germany), Schneider Electric (France), Huawei (China), Intel (US), General Electric (US), AT&T (US), Oracle (US), Ericsson (Sweden), Nokia (Finland), Itron (US), Verizon (US), Honeywell (US), SAP (Germany
。
Smart city platforms include connectivity management platforms, integration platforms, device management platforms, security platforms, and data management platforms, according to Markets and Markets, which is expected to grow from $104.
6 billion in 2018 to $222.
3 billion by 2023, at a CAGR of 16.
4%
during the period.
Due to the growing implementation of integrated IoT solutions in smart cities, the adoption rate of smart city solutions will further grow, providing more opportunities
for platforms and service providers.
In terms of platform type, connectivity management platforms will grow
at the highest CAGR during the forecast period.
A connectivity management platform enables enterprises to deploy end-to-end connectivity solutions? for seamless integration
.
The platform reduces additional costs and operational overhead while providing an intelligent internetwork
.
Connectivity management platforms are estimated to have the highest market share in 2018 and will be characterized
by strong growth in the coming years.
This dominance is characterized by continued smart city development, especially in developing regions
.
In terms of service type, the consulting and architectural design segment is expected to grow rapidly during
the forecast period.
Sound planning and consulting services as well as architectural design are important for the development of smart city infrastructure, as these can provide cost-optimized facilities
for cities.
Technological innovations in smart city spaces have enabled the continuous development of consulting and architectural design services
.
In terms of region, North America is expected to account for the largest market size during the forecast period, mainly driven by the growing demand for smart city solutions such as connected vehicles, building energy optimization, and distribution management systems
.
Moreover, the United States is one of
the leading countries that have taken smart city initiatives and made significant progress in the smart city space.
Currently, the deployment of smart city solutions in different fields such as smart transportation, smart buildings, smart utilities, and smart citizen services has risen
in the Asia-Pacific region.
From the perspective of platform service providers, major and emerging market players include Cisco (US), IBM (US), Microsoft (US), Hitachi (Japan), Siemens (Germany), Schneider Electric (France), Huawei (China), Intel (US), General Electric (US), AT&T (US), Oracle (US), Ericsson (Sweden), Nokia (Finland), Itron (US), Verizon (US), Honeywell (US), SAP (Germany
。
