Internet of Things (IoT) In Smart Cities Market: Industry Analysis and Forecast (2017-2026)- by Emerging Technologies, Leading Players, Key Trends, Global Demand, and Total Market Share

IoT Smart Cities Market was valued US$ 69.5 Bn in 2017, and expected to reach US$ 450.2 Bn in 2026, at CAGR of 26.31%.

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The concept of smart city includes optimization of the efficiency of city operations and services, and connected citizens. Smart city technology enables city officials to interact directly with both communities and city infrastructure, and monitor what is happening in the city and how the city is developing. Smart city initiatives are applicable to urban developed cities, for the efficient management of assets and resources, such as traffic and transportation systems, power plants, water supply networks, waste management, information systems, schools, libraries, hospitals, and other community services. Thus, with the world moving towards urbanization, there is an increasing number of smart city initiatives and projects, in the pipeline. Therefore, with growing urbanization, the need to manage infrastructure and assets are encouraging countries across the world to invest in smart city projects.

Main reason behind the growth of smart cities is need for an effective solution for managing the cities. Governments of various countries are expected to collaborate and partner with each other, in order to transform into a combined and integrated service delivery model, from the traditional silo-based model. Expansion of cities and urbanization, extensive adoption of green technology, increasing telecom penetration, and rising adoption of Artificial Intelligence (AI) and Internet of Things, are the factors driving the demand for smart cities.

Smart citizen services application is expected to hold the highest market size as compared to other segments in the market during the forecast period. Growth of this segment can be attributed to development in the communication infrastructure brought on by IoT. Emergence of 5G services will also be helping to increase the adoption rate of IoT services and solutions as there will be huge improvement in the efficiency of the services. Governments will be encouraging to implement smart devices such smart meters and smart appliances to provide efficient services to citizen.

North America is expected to hold the largest market share and dominate the IoT in smart cities market from 2017 to 2026, with the growing number of smart city projects and increasing donations from the U.S. government. Asia-Pacific and Middle East & Africa offer potential growth opportunities due to large-scale infrastructure development and growing number of smart city projects.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding IoT Smart Cities Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in IoT Smart Cities Market.

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Scope of IoT Smart Cities Market:

IoT Smart Cities Market by Solution:
• Location Analytics
• Network Security
• Application Security
• Real Time Streaming Analytics
• Network Bandwidth Management
• Remote Monitoring System
• Data Management Solutions

IoT Smart Cities Market by Services:
• System Integration Services

IoT Smart Cities Market by Platform:
• Device Management
• Application Management
• Connectivity Management

IoT Smart Cities Market by Technology:
• Satellite Network
• Cellular Network
• Radio Frequency Identification
• Near Field Communication
• Wi-Fi

IoT Smart Cities Market by Application:
• Transportation
• Infrastructure Management
• Building Automation
• Energy Management
• Intelligent Cities Services
• Emergency and Incident Management

IoT Smart Cities Market by Geography:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa

Key Players Operated in Market Includes:
•Intel
•Microsoft
•Tech Mahindra
•Bosch Software Innovations
•PTC
•ARM
•Quantela
•Sierra Wireless
•ABB Ltd
•Cisco Systems Inc
•Emerson Electric Co.
•IBM Corporation
•Ericsson Inc.
•Schneider Electric SE
•General Electric Co.
•Siemens AG
•Huawei Technologies Co. Ltd
•Honeywell International Inc.
•Hitachi Ltd
•Nokia Corporation
•Koninklijke Philips NV

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