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IoT in Smart Cities Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
IoT in Smart Cities
What Is the Projected Growth of the IoT in Smart Cities Market?
The IoT in Smart Cities Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the IoT in Smart Cities Market?
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What Are the Different IoT in Smart Cities Market Segments?
The IoT in smart cities market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Technology: Bluetooth, Cellular Network, RFID, Other Technologies
3) By Application: Smart Building, Smart Healthcare, Smart Energy, Smart Transportation, Public Safety, Smart Infrastructure, Other Applications
Subsegments:
1) By Solutions: Smart Lighting Solutions, Smart Waste Management Solutions, Smart Transportation Solutions, Smart Water Management Solutions, Smart Energy Management Solutions, Smart Parking Solutions, Smart Environmental Monitoring Solutions
2) By Services: Consulting Services, System Integration Services, Maintenance And Support Services, Managed Services, Data Analytics Services, Training And Education Services
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What Are the Primary Drivers Shaping the IoT in Smart Cities Market?
The ongoing integration of 5G technology is projected to accelerate the expansion of the IoT in the smart cities sector. As the fifth-generation cellular technology, 5G is known for its enhanced speed, smooth functionality, and adaptability in providing wireless services. It's anticipated to be a crucial enabler for the IoT in smart cities, by providing a platform to connect a massive array of sensors and actuators with a focus on energy efficiency and data transmission. Consequently, the continuous adoption of 5G technology will serve to boost the IoT in smart cities market. For instance, data released in March 2023 by the Mobile Suppliers Association, a UK-based non-profit organization linked with the mobile communication industry, showed that the number of 5G subscribers reached 1.15 billion as of December 2022, an increase from 619 million in December 2021, signifying an 85.9% growth year on year. Thus, the consistent adoption of 5G technology is expected to fuel the advancement of the IoT in the smart cities sector.
Which Companies Are Leading in the IoT in Smart Cities Market?
Major companies operating in the IoT in smart cities market 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., Schneider Electric SE, Deutsche Telekom AG, Hitachi Ltd., SAP SE, Dell Technologies Inc., Samsung SDS Co. Ltd., Hewlett Packard Enterprise Company LP, Toshiba Corporation, Panasonic Corporation, Sony Corporation, LG Electronics Inc., Philips Lighting Holding B.V., Osram Licht AG, Cree Inc., Acuity Brands Inc., General Electric Company, Verizon Communications Inc., AT&T Inc., Johnson Controls International plc
What Are the Major Trends Shaping the IoT in Smart Cities Market?
Leading firms in the IoT in smart cities market are developing innovative business platforms for digital transformation to gain a competitive advantage. Digital transformation is a process that involves using digital technologies to fundamentally change and optimize various aspects of business operations, policies, and consumer encounters. For example, in July 2022, Siemens AG, a German automation company, introduced Siemens Xcelerator, an open digital business platform developed to expedite digital transformation in various sectors, such as buildings, grids, mobility, etc. This platform simplifies digital transformation, making it quicker and scalable, and presents a curated array of IoT-enabled hardware, software, and digital services from Siemens and approved third parties. Siemens Xcelerator comprises a growing partner ecosystem and a developing marketplace to make interactions and transactions easier. As a part of Siemens Xcelerator, Siemens announced the launch of Building X, a smart building suite that provides a single source of truth for digitalization, thereby assisting customers in reaching net-zero targets. Building X is a modular, entirely cloud-based open software suite fortified with AI-enabled apps, robust connectivity, and in-built cybersecurity. Siemens also has plans to incorporate its industrial IoT solutions under Industrial Operations X, which will provide solutions ranging from sensor to edge to cloud, IoT as-a-service, and low code development capabilities.
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What Are the Top Revenue-Generating Geographies in the IoT in Smart Cities Market?
Asia-Pacific was the largest region in the IoT in smart cities market in 2024. The regions covered in the IoT in smart cities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the IoT in Smart Cities Market?
2. What is the CAGR expected in the IoT in Smart Cities Market?
3. What Are the Key Innovations Transforming the IoT in Smart Cities Industry?
4. Which Region Is Leading the IoT in Smart Cities Market?
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