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“The Smart City Platform Market is poised to grow by USD 70.56 billion during 2022-2026, accelerating at a CAGR of 26.18% during the forecast period”
Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. Furthermore, this report extensively covers smart city platform market segmentation by application (smart infrastructure, smart building, smart utilities, and others) and geography (North America, Europe, APAC, MEA, and South America). The market report also offers information on several market vendors, including Alibaba Group Holding Ltd., ABB Ltd., Amazon.com Inc., Cisco Systems Inc., Fujitsu Ltd., Fybr, Hitachi Ltd., Quantela Inc., Robert Bosch GmbH, and Telefonaktiebolaget LM Ericsson among others.
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Our Technavio Research categorizes the report belonging to the Software and Services Industry for the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.
Technavio Research categorizes the global Smart City Platform Market belonging to the Software Industry. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.
The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.
Key Smart City Platform Market Driver
Key Smart City Platform Market Challenge
The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading market vendors such as
The parent global IT software market covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. The global application software market covers companies that are engaged in developing and producing software designed for specialized applications for the business or consumer market. It includes enterprise and technical software, as well as cloud-based software. It excludes companies classified in the interactive home entertainment sub-industry, and companies producing systems or database management software classified in the systems software sub-industry. Technavio calculates the global IT software market size based on combined revenue generated by companies that are engaged in the provision of all types of IT software, including cloud-based software. It includes software license revenues and subscription revenues. Maintenance and support services fees charged by vendors are also included within the software revenues. However, the professional services fees charged for consulting and systems integration services for vendors products are charged separately and are not included in the IT software market.
In this report, we provide extensive information on the value chain analysis for the market. Our data covers all key stages of a market flow and provides a complete understanding of all aspects of the market logistics value chain. This includes an end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.
32% of the market’s growth will originate from APAC during the forecast period. Japan is a key market for smart city platforms in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
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The smart city platform market share growth by the smart infrastructure segment will be significant during the forecast period. Smart Infrastructures comprise several operators from different domains of activity, such as energy, public transport, public safety. A smart infrastructure system can monitor, measure, analyze, communicate and act based on data collected by sensors. Smart infrastructures are based on their physical structure (cabling, sensors, etc.) and on four principles: data, analytics, feedback, and adaptability. Increasing industrial development, commercialization, and awareness of effective utilization of energy and building optimization will drive the adoption of smart infrastructures. Smart infrastructure combines the real and digital worlds across energy systems, buildings, and industries, enhancing the way people live and work and significantly improving efficiency and sustainability. Rapid strides in technology innovation will further propel the adoption of smart infrastructure as the systems can deploy IoT, analytics, and cloud computing for effective monitoring, controlling, and operating building facilities during the forecast period.
The report provides a near-term to long-term perspective on the trends and forecasts horizon for the market. It offers an overview of the key market drivers and restraints, enabling precise identification of key regional opportunities over the coming years.
Smart City Platform Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 26.18% |
Market growth 2022-2026 |
$ 70.56 billion |
Market structure |
Fragmented |
YoY growth (%) |
20.04 |
Regional analysis |
North America, Europe, APAC, MEA, and South America |
Performing market contribution |
APAC at 32% |
Key consumer countries |
US, Japan, UK, Germany, and Spain |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Alibaba Group Holding Ltd., ABB Ltd., Amazon.com Inc., Cisco Systems Inc., Fujitsu Ltd., Fybr, Hitachi Ltd., Quantela Inc., Robert Bosch GmbH, and Telefonaktiebolaget LM Ericsson |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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