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IoT in Smart Cities Global Market Report 2025: Promising Growth with an Impressive CAGR of 22.6% Predominantly Fueled by Integration With 5G Networks and AI Applications
IoT in Smart Cities Global Market Report 2025
What Is The Projected Market Size Of The IoT in Smart Cities Global Market Report 2025 And Its Growth Rate?
• The IoT in smart cities market size has grown to $226.12 billion in 2024 and will further increase to $269.38 billion in 2025, marking a CAGR of 19.1%.
• Driving factors for this growth include infrastructure modernization, sustainability goals, public safety concerns, efficient traffic management, and demand for energy efficiency.
• The market size is projected to reach $608.6 billion in 2029 at a stellar CAGR of 22.6%. This increase can be attributed to enhanced security measures, robust data privacy regulations, global connectivity, and health solutions.
What Is Driving The Growth In The IoT in Smart Cities Global Market Report 2025?
The expansive implementation of 5G technology immensely contributes to the growth signaled in the IoT in the smart cities market. 5G technology's enhancements in wireless services speed, flexibility, and connectivity see an increasing number of sensors and actuators linked. This development, validated by an 85.9% year-on-year growth in 5G subscriptions recorded in December 2022, as per the Mobile Suppliers Association, will act as a key propeller of IoT in smart cities.
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Who Are the Key Players Driving IoT in Smart Cities Global Market Report 2025 Growth?
Key players include:
• Cisco Systems Inc.
• Intel Corporation
• The International Business Machines Corporation (IBM)
• Huawei Technologies Co. Ltd.
• Tech Mahindra Limited
• Microsoft Corporation
• Honeywell International Inc.
• Bosch Global Software Technologies Private Limited
• Siemens Incorporation
• PTC Inc., ARM Inc.
What Are The Key Trends In The IoT in Smart Cities Global Market Report 2025?
Significant trends driving the market include:
• Integration with 5g networks
• Advanced urban mobility solutions
• Smart grids for efficient energy management
• AI and machine learning applications
• Public-private partnerships
What Are The Segments Of The Global IoT in Smart Cities Global Market Report 2025?
• By Component: Solutions, Services
• By Technology: Bluetooth, Cellular Network, RFID, Other Technologies
• By Application: Smart Building, Smart Healthcare, Smart Energy, Smart Transportation, Public Safety, Smart Infrastructure, Other Applications
Which Region Leads The IoT in Smart Cities Global Market Report 2025?
Asia-Pacific region leads in the IoT in smart cities market as of 2024. The regions covered in the IoT in smart cities market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa, indicating the control and influence these regions have over the global market movement.
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What Is Covered In The IoT in Smart Cities Global Market Report 2025 Global Market Report?
Market Size Analysis: Analyze the IoT in Smart Cities Global Market Report 2025 size by key regions, countries, product types, and applications.
Market Segmentation Analysis: Identify various subsegments within the IoT in Smart Cities Global Market Report 2025 for effective categorization.
Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
Market Contribution: Evaluate contributions of different segments to the overall IoT in Smart Cities Global Market Report 2025 growth.
Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
Industry Challenges: Analyze challenges and risks affecting the IoT in Smart Cities Global Market Report 2025.
Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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