Industry Background:
A smart city is a system of systems. These systems can include various facilities like building automation systems, smart transportation systems, smart lighting systems, security and control systems, intelligent grids, renewable power, water treatment, and supply, etc. Smart governance is one of the characteristics of smart cities. Smart city platform increases the efficiency of government programs and helps them reach their beneficiaries. Increasing internet penetration plays a crucial role in establishing smart city platforms, as they enable IoT connections that act as a base for smart city platforms.
This growth is primarily driven by Preference for platforms over standalone solutions and Exponentially rising urban population actuating smart management.
Globally, a noticeable market trend is evident Increasing adoption of IoT technology for infrastructure management and city monitoring
. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as AWS (United States), Bosch.io (Germany), Cisco (United States), Ericsson (Sweden), Fujitsu (Japan), Google (United States), IBM (United States), Microsoft (United States)Oracle (United States) and SAP (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
November 2019 - Microsoft announced several new features in Azure to accelerate the development and success of smart city solutions. The majority of the updates involve Azure Maps. For instance, the cloud solution now uses weather services to give cities an easy way to integrate real-time weather data into their applications. It also integrates with the mobility-as-a-service company, Moovit, and visual assistance app Aira to make public transport more accessible to blind or low-vision users.
Market Drivers
- Preference for platforms over standalone solutions
- Exponentially rising urban population actuating smart management
Market Trend
- Increasing adoption of IoT technology for infrastructure management and city monitoring
- Digital transformations driving smart cities
Restraints
- The complicated and costly infrastructure of smart city platforms
- Possibility of privacy and security breaches in smart city platforms
Opportunities
Industrial and commercial deployments of smart city platforms and The rise in smart city initiatives worldwide
Challenges
Disruption in logistics and supply chain of IoT devices
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart City Platforms Study Sheds Light on
The Smart City Platforms Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Smart City Platforms industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart City Platforms industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.