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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Smart City Platform Market Growth
The growth of smart city platform market is driven by factors such as rapid urbanization, increasing government initiatives for smart city development, advancements in IoT and AI technologies, rising demand for efficient urban infrastructure, and the need for sustainable solutions to address environmental challenges. Additionally, the integration of smart city platforms with various sectors such as transportation, energy management, healthcare, and public safety is further fuelling market expansion.
Smart city platform helps governments reach their beneficiaries and boost citizen engagement. In addition to this, the increasing adoption of smartphones, smart vehicles, tablets, and laptops has augmented the market growth. Furthermore, the increased demand for cloud-based models and the rising government expenditure to address pressing urban challenges and enhance security by embracing smart city agendas are likely to aid the smart city platform demand growth in the forecast period.
Smart City Platform Market Report Snapshots
Smart City Platform Market Size
Smart City Platform Market Growth
Smart City Platform Market Trends
Smart City Platform Market Share
Smart City Platform Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The smart city platform market was valued at USD 33.61 billion in 2023.
The smart city platform market is projected to grow at a CAGR of 49.2% between 2024 and 2032.
The revenue generated from the smart city platform market is expected to reach USD 1230.26 billion in 2032.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The major industry drivers include the rising application of smart city platform in transportation and security systems, increasing investments in smart city projects, and the rapid digitalisation around the world.
The key market trends guiding the growth of the industry include the technological advancements in cloud-based e-governance software, including the addition of the latest features and the upgradation of existing models.
The market is categorised according to the platform type, which includes connectivity management platform, integration platform, device management platform, data management platform, and security management platform.
Based on the application, the market is divided into smart mobility/transportation, smart security, smart utilities, smart governance, smart infrastructure, smart healthcare, and others.
Based on the deployment, the market is divided into on-premises and cloud.
The key players are Hitachi Vantara LLC, Huawei Technologies Co., Ltd., Schneider Electric SE, Siemens Aktiengesellschaft, Cisco Systems, Inc., and IBM Corporation, among others.
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