Key Factor Supporting Smart City Platforms Market Development in 2025: Smart City Platforms Market Surges With The Momentum Of Urbanization

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

How Large Will the Smart City Platforms Market Size By 2025?
In recent times, the market size for smart city platforms has seen swift growth. The market is projected to expand from $195.52 billion in 2024 to $219.32 billion in 2025 with a compound annual growth rate (CAGR) of 12.2%. Factors that have contributed to the growth during the historic period include urbanization and population growth, a rise in the demand for effective public services, initiatives and fundings by the government, concerns about environmental sustainability, and enhancements in the field of Internet of Things (IoT) technology.

How Big Is the Smart City Platforms Market Size Expected to Grow by 2029?
The market size for smart city platforms is anticipated to experience swift expansion in the forthcoming years. The market is projected to reach $358.09 billion in 2029, with a compound annual growth rate (CAGR) of 13.0%. The progression in the predicted period can be credited to integration with 5G networks, emphasis on resilience and disaster management, citizen involvement and contribution, amplification of data analytics and predictive insights, and public-private collaborations (PPPs). Significant trends during the forecast period encompass openness to data and interoperability, resilience and disaster management combination, development of smart infrastructure, public-private collaborations for implementation, and utilization of artificial intelligence for predictive analytics.

View the full report here:
https://www.thebusinessresearchcompany.com/report/smart-city-platforms-global-market-report

Which Key Market Drivers Powering Smart City Platforms Market Expansion and Growth?
The escalating urbanization is predicted to fuel the expansion of the smart city platforms market. Urbanization denotes the phenomenon where a massive number of people permanently gather in relatively small areas to form cities, moving from rural to urban locations. Smart city platforms facilitate the enhancement of urban management and the standard of living for inhabitants. The demands posed by swift urbanization will necessitate smart city platforms, thus prompting market expansion. For example, the UN, an American organization dedicated to maintaining global peace and security, states that around 2.5 billion additional individuals are projected to inhabit cities by 2050. The anticipated increase in urban populations by 2050 is around 292 million in China and 212 million in Nigeria. Similarly, a report published by UN-Habitat, a Kenyan United Nations agency for human settlements, in July 2023 disclosed that over half (55%) of the world's population lives in urban areas, a figure that is projected to rise to 70% by 2050. Further substantiating this, the World Bank, a US-based global financial institution, stated in April 2023 that currently, more than 50% of the world's population reside in urban regions. Thus, the increasing urbanization is propelling the growth of the smart city platforms market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9025&type=smp

Which Fast-Growing Trends Are Poised to Disrupt the Smart City Platforms Market?
Technological progress is a significant trend emerging in the smart city platforms market. Mainstream firms in this market are concentrating on the development of innovative technological solutions to solidify their standing in the market. For instance, Ubicquia, Inc., a U.S.-based company specializing in smart infrastructure solutions for municipalities, utilities, and mobile operators, unveiled UbiHub in July 2022. This innovation allows cities to apply public Wi-Fi and cameras for traffic analysis, public safety, and license plate identification. It boasts a unique design featuring the industry's first integrated Wi-Fi 6 and an edge AI platform that can be installed in a photocell socket within half a minute and subsequently deliver data within minutes. This platform equips communities and law enforcement agencies with the ability to efficiently upscale and transform their existing streetlight infrastructure into a network of digital assets that are interconnected. It is congruent with 360 million streetlights globally.

What Are the Emerging Segments in the Smart City Platforms Market?
The smart city platforms market covered in this report is segmented -

1) By Offering: Platforms, Services
2) By Deployment Model: On Premise, Cloud
3) By Delivery Model: Offshore, Hybrid, Onshore
4) By Application: Smart Infrastructure, Smart Governance and Smart Education, Smart Energy, Smart Mobility, Smart Healthcare, Smart Buildings, Other Applications

Subsegments:
1) By Platforms: Smart Mobility Platforms, Smart Energy Platforms, Smart Water Management Platforms, Smart Waste Management Platforms, Smart Lighting Platforms
2) By Services: Consulting Services, Integration Services, Data Analytics Services, Maintenance And Support Services, Training And Development Services

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=9025&type=smp

Who Are the Global Leaders in the Smart City Platforms Market?
Major companies operating in the smart city platforms market include Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, AT&T Inc., Dell Technologies Inc., Huawei Technologies Co Ltd., Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Technologies Inc., Oracle Corporation, Honeywell International Inc., SAP SE, Schneider Electric SE, ABB Ltd, Telefonaktiebolaget LM Ericsson, Ericsson, Johnson Controls International plc, NEC Corporation, SAS Institute Inc., Advantech Co Ltd., Parametric Technology Corporation., Cubic Corporation, Cradlepoint Inc., Bosch IO GmbH, Quantela Inc.

Which are the Top Profitable Regional Markets for the Smart City Platforms Industry?
North America was the largest region in the smart city platforms market in 2024. The regions covered in the smart city platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9025

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.