Global Smart City Platform Market Report 2019-2024 with a Complete Industry Value Chain Analysis - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 21, 2019--
The “Smart City Platform Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The smart city platform market is expected to register a CAGR of 18% in the forecast period.
A smart city is a system of systems. These systems can include various facilities like building automation systems, smart transportation systems, smart lighting systems, security and control systems, intelligent grids, renewable power, water treatment, and supply, etc.
Smart City platforms are being developed extensively in key sectors such as transportation and energy. For instance, the urban mobility and transportation platform for Columbus, Ohio proposes Smart Columbus Operating System (SCOS) which is a web-based, dynamic delivery platform that will collect and disseminate general mobility data (e.g., traffic, parking, weather, and construction), as well as the data generated from all the projects being developed.
With the humongous growth in population worldwide, the urban population is growing at a much faster rate, opening up a wide array of opportunities in a smart city environment. The major factor driving the market growth is government placing high priority to convert the cities into smart cities in the near future.
The government initiatives and spending are giving much more importance to platform providers as compared to standalone smart solutions because of scalability and integration of other smart solutions. According to Consumer Technology Association, smart city spending on the global scale is expected to reach USD 34.35 billion.
However, the high costs involved in deploying the smart city platform is expected to hinder the adoption rates. Also, the inefficient utilization of resources in developing nations is hindering the market growth.
Key Market Trends
Traffic Management System to be the Major Application Area
North America Expected to Dominate the Market
The smart city platform market is moderately fragmented with many companies providing such platforms across the globe. The market players are consistently evolving and innovating the solutions provided by them to attract the majority of the market share globally. Companies are spending huge sums of money on R&D to innovate new solutions by integrating different technologies, making it a highly competitive market. Some companies such as Huawei is expected to experience negative impact in the market owing to US government initiated actions and as a result supply chain companies cutting the support to it.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Rising Urban Population
4.3.2 Increasing Government Focus on Smart City Initiatives
4.3.3 Increasing Adoption of IoT and Other Technologies
4.4 Market Restraints
4.4.1 High Infrastructure Costs Involved
4.4.2 Inefficient Utilization of Resources in Developing Nations
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Smart Mobility/Transportation
5.1.2 Extended City Services
5.1.3 Smart Utilities
5.1.4 Infrastructure Management
5.1.5 Environment Planning
5.2 By Platform type
5.2.1 Connectivity Management Platform
5.2.2 Integration Platform
5.2.3 Device Management Platform
5.2.4 Data Management Platform
5.2.5 Security Management Platform
5.3 By Deployment
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Nokia Corporation
6.1.2 Intel Corporation
6.1.3 Microsoft Corporation
6.1.4 Hitachi Ltd.
6.1.5 Huawei Technologies
6.1.6 Cisco Systems, Inc.
6.1.7 Current, Powered by GE
6.1.8 IBM Corporation
6.1.9 Alibaba Group
6.1.10 Siemens AG
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/yyw62x
View source version on businesswire.com:https://www.businesswire.com/news/home/20191121005756/en/
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SOURCE: Research and Markets
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PUB: 11/21/2019 11:37 AM/DISC: 11/21/2019 11:37 AM