With the evolution of smart city projects, the demand for smart city platform is expected to surge during the forecast period. A smart city platform provides the integral capability to provide coordination of data, application, and services that are across the operational domain. Vendors are focused on the development of compatible platforms by multiple partnerships and to ensure the platform meets the need of future conditions of environment, economic, and services. IoT platforms are an essential part of the smart city ecosystem. A smart city platform is defined as a framework for sensing, for integration, for communication, and for intelligent decision making. The smart city platform enhances the capabilities for cloud computing, analytics, legacy data, streamed data, connected devices, network, and others. It has wide application in transportation, infrastructure, utilities, and others.
The "Global Smart City Platform Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart city platform market with detailed market segmentation by platform, service, application, and geography. The report provides key statistics on the market status of the leading smart city platform market players and offers key trends and opportunities in the market.
- Based on platform, the global smart city platform market is segmented into connectivity management platform, integration platform, device management platform, data management platform, and security platform.
- On the basis of service, the market is segmented into infrastructure monitoring and management, consulting and architecture designing, and deployment and training
- Based onapplication , the market is segmented into smart utilities, smart transportation, public safety, and infrastructure management.
- The increasing investments by governments for smart cities projects are expected to drive the global smart city platform market.
- The rising concern for public safety, effective transport & infrastructure management, and others are significantly creating a need for advanced smart city platforms.
- The continuous developments in developing countries of the Asia Pacific such as China and India are expected to witness high demand for smart city platform during the forecast period.
- High investment cost may hinder the growth of the smart city platform market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart city platform market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart city platform market in these regions.
IMPACT OF COVID-19ON SMART CITY PLATFORM MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the smart city platform market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart city platform market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart city platform market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Cisco Systems Inc.
- General Electric
- Huawei Technologies Co Ltd
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Nokia Corporation
- SAP SE
- Siemens AG
- Verizon Wireless
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.