DUBLIN--(BUSINESS WIRE)--The "IoT in Smart Cities Market by Solution (Remote Monitoring, Network Management, Analytics, RTLS, Security), Service, Application (Smart Transportation, Buildings, Utilities, Healthcare and Public Safety), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Smart city projects have evolved through various phases over the past five years, from being a vendor driven technology-centric vision of smart cities to citizen-centric models. Companies, nowadays, are concentrating more on providing solutions to refine the citizen interaction with the government.
Governments across regions are focusing on the development and integration of more citizen centric interactive open platforms for better communication with the citizens. To ensure better co-ordination and control around the same, governments are focusing extensively on deployment of IoT solutions and services. Even in the developing regions, there is a huge focus on upgrading the legacy Information Technology (IT) infrastructure to the IoT-ready infrastructure.
Market Insights
The market size is expected to grow from USD 79.5 billion in 2018 to USD 219.58 billion by 2023, at a CAGR of 22.5% during the forecast period. This growth is fueled by increase in the smart city projects, growth in the number of government initiatives and PPP models for smart cities, and improvement in the communication infrastructure due to IoT.
The report also contains the competitive landscape and profiling of the major technology vendors, such as Cisco Systems, Inc (Cisco), IBM Corporation (IBM), Huawei Technologies Co., Ltd (Huawei), Intel Corporation (Intel), Microsoft Corporation (Microsoft), Bosch Software Innovations (Bosch Software Innovations), PTC (PTC), Siemens AG (Siemens), Verizon Communications (Verizon), Honeywell International, Inc. (Honeywell), Hitachi Ltd. (Hitachi), Arm Ltd (Arm), Schneider Electric (Schneider), Sierra Wireless (Sierra Wireless), and Quantela (Quantela).
These companies have adopted various strategies to cater to the growing demand for IoT in smart cities and strengthen their position in the market. Some of these strategies are mergers and acquisitions, partnerships and collaborations, and product developments. These strategies have also been tracked and mentioned in the report.
Key Benefits
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall IoT in smart cities market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges and opportunities.
Market Dynamics
Drivers
- Increasing Number of Government Initiatives and PPP Models for Smart Cities
- IoT to Bring Improvements to the Communication Infrastructure
- Rising Adoption of Connected and Smart Technologies in Smart Cities Initiatives
Restraints
- Privacy and Security Concerns Over the Use of IoT
- Lack of Advancements in Communication Technology and Poor Operational Efficiency in Developing Economies
Opportunities
- Increase in Smart City Initiatives Worldwide
- Increase in Connected Devices to Drive the Growth of IoT
- Emerging 5G Technology to Help IoT Adoption, Globally
Challenges
- Lack of Knowledge Among People About IoT and Smart Cities
- Huge Initial Investments Required for IoT in Smart Cities
Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the IoT in Smart Cities Market
4.2 Market By Offering, 2018-2023
4.3 Market By Solution, 2018-2023
4.4 Market By Service, 2018-2023
4.5 Market By Application, 2018-2023
4.6 Market Investment Scenario
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Industry Trends
5.4 Ecosystem Analysis
6 IoT in Smart Cities Market, By Offering
6.1 Introduction
6.2 Solutions
6.3 Services
7 IoT in Smart Cities Market, By Solution
7.1 Introduction
7.2 Remote Monitoring
7.3 Real-Time Location System
7.4 Network Management
7.5 Security
7.6 Data Management
7.7 Reporting and Analytics
8 IoT in Smart Cities Market, By Service
8.1 Introduction
8.2 Professional Services
8.3 Managed Services
9 IoT in Smart Cities Market, By Application
9.1 Introduction
9.2 Smart Transportation
9.3 Smart Building
9.4 Smart Utilities
9.5 Smart Citizen Services
10 IoT in Smart Cities Market, By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis for the IoT in Smart Cities Market
11.3 Competitive Scenario
12 Company Profiles
12.1 IBM
12.2 Cisco
12.3 Intel
12.4 Huawei
12.5 Microsoft
12.6 Tech Mahindra
12.7 Honeywell
12.8 Siemens
12.9 Bosch Software Innovations
12.10 PTC
12.11 Schneider Electric
12.12 ARM
12.13 Quantela
12.14 Sierra Wireless
12.15 Hitachi
For more information about this report visit https://www.researchandmarkets.com/r/6urmlj
