IoT in Smart Cities Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

Key Highlights:
• The global IoT in Smart Cities Market size was valued at USD 148.6 billion in 2022 growing at a CAGR of 20.10% from 2023 to 2033.
• Asia Pacific dominated the market in 2022
• North America is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global IoT in Smart Cities Market size accounted for USD 148.6 billion in 2022, growing at a CAGR of 20.10% from 2023 to 2033. The IoT in Smart Cities market refers to the integration of Internet of Things (IoT) technologies into urban infrastructure to enhance efficiency, sustainability, and quality of life. It involves the deployment of interconnected devices and sensors in areas such as transportation, energy management, healthcare, and public services. These smart city solutions leverage data analytics and connectivity to optimize resource utilization, reduce environmental impact, and improve overall urban living conditions. Key components include smart sensors, IoT platforms, and data analytics systems that enable cities to make informed decisions and provide innovative services to residents. The market is driven by the global trend toward urbanization and the need for intelligent solutions to address urban challenges.

Request/Download PDF Sample: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021646

The IoT in Smart Cities market is propelled by the increasing need for urban efficiency and sustainability. Cities deploy IoT technologies such as sensors and data analytics to optimize transportation, energy, healthcare, and public services. The market growth is driven by the ongoing global urbanization trend, with smart city solutions playing a crucial role in addressing urban challenges and improving overall quality of life.

Key Players
Some of the major IoT in Smart Cities Market players holding high market shares include IBM Corporation (New York, United States), Cisco Systems, Inc. (California, United States) and Intel Corporation (California, United States). These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Huawei Technologies Co., Ltd. (Shenzhen, China), Microsoft Corporation (Washington, United States), Tech Mahindra Limited (Pune, India), Siemens AG (Munich, Germany), Robert Bosch GbmH (Gerlingen, Germany), PTC Ltd. (Boston, United States), Schneider Electric Infrastructure Ltd. (Rueil-Malmaison, France), Arm Limited (Cambridge, United Kingdom), Quantela Inc. (California, United States), Hitachi High-Tech Corporation (Tokyo, Japan), Sierra Wireless (Richmond, Canada), SAP SE (Walldorf, Germany), Deutsche Telekom AG (Bonn, Germany), Verizon Communication Inc. (New York, United States), AGT International (Zurich, Switzerland) and Qualcomm Technologies, Inc. (California, United States).

Report Description: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021646

Segmental Analysis
Based on Components, the IoT in Smart Cities market is segmented into Solutions and Services. The location analytics, security management, real-time streaming analytics, data management solutions, remote monitoring system, and reporting and analytics subcategories are further divided within the solution sector. Professional and managed services make up the two halves of the service market.
Based on application, the IoT in Smart Cities market is segmented into smart building, smart healthcare, smart energy, smart transportation, public safety, smart infrastructure, and others (environmental monitoring, smart governance, etc.). Due to the rising need for smart and functional spaces for both personal and professional needs, smart buildings are anticipated to dominate the market throughout the forecast period. Security, building operation performance, energy management, building management, operational cost management, and health management are all provided by smart buildings, which are the foundation of smart cities.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

Address
Evolve Business Intelligence
C-218, 2nd floor, M-Cube
Gujarat 396191
India
Email: sales@evolvebi.com
Website: https://evolvebi.com/

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool - EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune's global 2000 companies.

This release was published on openPR.