Smart City Platforms Market by Offering (Platforms (Connectivity Management, Integration, Device Management) and Services), Delivery Model (Offshore, Hybrid, On-site), Application (Smart Transportation and Public Safety) and Region - Global Forecast to 20

Smart City Platforms Market by Offering (Platforms (Connectivity Management, Integration, Device Management) and Services), Delivery Model (Offshore, Hybrid, On-site), Application (Smart Transportation and Public Safety) and Region - Global Forecast to 2028

The smart city platforms market is estimated at USD 191.6 billion in 2023 and is projected to reach USD 292.1 billion by 2028, at a CAGR of 8.8% from 2023 to 2028. The presence of various key players in the ecosystem has led to competitive and diverse market. Government initiatives to establish smart cities is expected to drive the adoption of the smart city platforms market in the future.

“By Services, professional services segment to hold the largest market size during the forecast period”

Professional services are services offered through professionals, specialists, or experts to support business operations. The innovative techniques, strategies, and skills adopted by professionals encourage the adoption of smart city platforms. Service providers offer customized implementation and integration of smart city platforms with legacy solutions and assist customers, following industry-defined best practices. Vendors offering deployment services cover all phases of platform deployment, right from auditing, consulting, deployment, support, and training to ongoing performance optimization.

“Asia Pacific to register the highest growth rate during the forecast period”

Asia Pacific comprises nations with rapid technological development, such as China, Japan, and India. Asia Pacific is home to several developing countries that are experiencing rapid urbanization. This offers enormous business opportunities for smart city platform vendors even while presenting grave challenges for sustainable development.

In recent years, Asia Pacific has successfully facilitated cooperation projects under the low-carbon model town and IoT-based smart cities and has gathered valuable experience in the process, which can be shared among the member economies. The overall focus of the region towards smart city initiatives offers opportunities for smart city platform providers.

Breakdown of primaries

The study contains insights from various industry experts, ranging from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%

By Designation: C-level –35%, D-level – 25%, and Others – 40%

By Region: North America – 30%, Europe – 35%, Asia Pacific – 25%, Middle East- 5%, and Latin America-5%.

The major players in the smart city platforms market are Alibaba Group Holding Limited (China), Amazon Web Services, Inc. (US), Bosch.IO GmbH (Germany), Quantela, Inc. (US), Cisco Systems, Inc. (US), Ericsson (Sweden), Fujitsu Limited (Japan), Fybr (US), Google LLC (US), Hitachi, Ltd. (Japan), Huawei Technologies Co., Ltd. (China), IBM (US), Intel Corporation (US), KaaIoT Technologies (US), Microsoft (US), NEC Corporation (Japan), Oracle Corporation (US), SAP SE (Germany), Schneider Electric (France), SICE (Spain), Siemens AG (Germany), Sierra Wireless Inc. (Canada), SIRADEL SAS (France), Smarter City Solutions (Australia), Thethings.Io (Spain), Ubicquia, Inc (US), Verdigris Technologies, Inc (US), Softdel (US), Igor, Inc (US), Telensa Inc (UK), Enevo Inc. (US), Confidex Ltd (Finland), 75F (US), Ketos (US), and Cleverciti Systems GmbH (Germany). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the smart city platforms market.

Research Coverage

The market study covers the smart city platforms market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings (platforms, services), delivery mode, application and region. The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global smart city platforms market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Preference for platforms over standalone solutions, exponential rise in urban population resulting in need for smart management, increasing adoption of IoT technology for infrastructure management and city monitoring, inefficient utilization of resources in developing countries), restraints (Cost-intensive infrastructure of smart city platforms, possibility of privacy and security breaches in smart city platforms, lack of standardization in IoT protocols), opportunities (Development of smart infrastructure, industrial and commercial deployment of smart city platforms, rising smart city initiatives worldwide), and challenges (Increasing concern over data privacy and security, growing cybersecurity attacks due to proliferation of IoT devices, disruption in logistics and supply chain of IoT devices ) influencing the growth of the smart city platforms market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the smart city platforms market. Market Development: Comprehensive information about lucrative markets – the report analyses the smart city platforms market across varied regions Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the smart city platforms market. Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Alibaba Group Holding Limited (China), Amazon Web Services, Inc. (US), Bosch.IO GmbH (Germany), Quantela, Inc. (US), Cisco Systems, Inc. (US), Ericsson (Sweden), Fujitsu Limited (Japan), Fybr (US), Google LLC (US), Hitachi, Ltd. (Japan), Huawei Technologies Co., Ltd. (China), IBM (US), Intel Corporation (US), KaaIoT Technologies (US), Microsoft (US), NEC Corporation (Japan), Oracle Corporation (US), SAP SE (Germany), Schneider Electric (France), SICE (Spain), Siemens AG (Germany), Sierra Wireless Inc. (Canada), SIRADEL SAS (France), Smarter City Solutions (Australia), Thethings.Io (Spain), Ubicquia, Inc (US), Verdigris Technologies, Inc (US), Softdel (US), Igor, Inc (US), Telensa Inc (UK), Enevo Inc. (US), Confidex Ltd (Finland), 75F (US), Ketos (US), and Cleverciti Systems GmbH (Germany).