Global Smart City Platform Market

Global Smart City Platform Market Size, Share, Growth Analysis, By Offering(Platforms, and Services), By Delivery Model(Offshore, Hybrid), By Application(Smart Transportation, Public Safety) - Industry Forecast 2024-2031

Report ID: SQMIG45A2291 | Region: Global | Published Date: April, 2024
Pages: 196 | Tables: 92 | Figures: 74

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Global Smart City Platform Market size was valued at USD 157.5 billion in 2022 and is poised to grow from USD 174.83 billion in 2023 to USD 402.89 billion by 2031, growing at a CAGR of 11% in the forecast period (2024-2031).

Smart city platform providers should focus on integrating advanced technologies with their products to improve functionality and boost market presence. Mergers, acquisitions, and collaborations are also slated to be popular strategies adopted by smart city platform companies in the future. Smart city platform market players can also work closely with governments to develop specialized and custom smart city platforms. 'Intel Corporation', 'NEC Corporation', 'Telefonaktiebolaget LM Ericsson', 'Fybr', 'Oracle Corporation', 'Fujitsu Limited', 'Huawei Technologies Co. Ltd.', 'Alibaba Group Holding Limited', 'Quantela Inc.', 'Microsoft Corporation', 'Hitachi Ltd.', 'Cisco Systems Inc.', 'Amazon Web Services Inc.', 'SAP SE', 'Bosch.IO GmbH', 'International Business Machines Corporation', 'KaaIoT Technologies LLC', 'Google LLC'

Growing urbanization around the world is calling for better city management protocols and this is why governments are focusing on smart city initiatives, which in turn is projected to boost the demand for smart city platform going forward.

Emphasis on Interoperability: Smart city platform providers should focus on improving the interoperability of their products to streamline business growth in the long term. Smart city platforms should be able to seamlessly integrate with IoT devices and other technologies to ensure the best functionality.

North America is estimated to account for a dominant stance in the global smart city platform market. Growing investments of governments to develop new smart cities in this region are predicted to help this region maintain its dominance in the future. The presence of well-developed economies and rapid adoption of advanced smart technologies are slated to create new opportunities for smart city platform companies in this region. Canada and the United States are estimated to be the leading markets in North America for smart city platform companies.

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Global Smart City Platform Market

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