What is IoT in Smart Cities?
The introduction of new technologies based on IoT platforms and the rising integration of IoT services have further boosted the demand in this market. Moreover, rising government programs for smart cities is considered as a key sector for the growth of this market. Since the concept of a smart city was introduced, IoT (Internet of Things) has been considered the key infrastructure in a smart city. However, there are currently no detailed explanations of the technical contributions of IoT in terms of the management, development, and improvements of smart cities. Therefore, the current study describes the importance of IoT technologies on the technology roadmap (TRM) of a smart city
The market study is broken down, by Application (Smart Transportation, Smart Building, Smart Utilities and Smart Citizen Services) and major geographies with country level break-up. According to AMA, the Global IoT in Smart Cities market is expected to see growth rate of 18.1%
Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global IoT in Smart Cities market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Cisco (United States), Intel (United States), Huawei (China), Microsoft (United States), Tech Mahindra (India), Siemens (Germany), Bosch (Germany), PTC (United States) and Schneider Electric (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ARM (England), Quantela (United States), Hitachi (Japan), Sierra Wireless (Canada), Youon (China), SAP (Germany), Deutsche Telekom (Germany), Confidex (Finland), Verizon (United States), AGT International (Switzerland), Takadu (Israel), Optibus (Israel), Enevo (United States), Telensa (United Kingdom) and FlamencoTech (India).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global IoT in Smart Cities market by Type, Application and Region.
On the basis of geography, the market of IoT in Smart Cities has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Services, the sub-segment i.e. Professional Services [Consulting, System Integration and Deployment, Support and Maintenance] will boost the IoT in Smart Cities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solutions, the sub-segment i.e. Remote Monitoring will boost the IoT in Smart Cities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Solutions will boost the IoT in Smart Cities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In April 2020, IBM released novel AI-powered technologies to help the health and research community accelerate the discovery of medical insights and treatments for COVID-19.
In March 2020, Microsoft partnered with Adaptive Biotechnologies to decode the COVID-19 immune response and provide open data access for researchers. The partnership aimed at providing advanced solutions for diagnosing, treating, and preventing the virus, augmenting existing research efforts that primarily focus on the biology of the virus. This data would be made freely available to any researcher, public health official, or organization around the world via an open data access portal.
Market Trend
- IoT to bring improvements to the communication infrastructure
- Rising adoption of connected and smart technologies in smart cities initiatives
Market Drivers
- The increasing number of government initiatives and PPP models for smart cities
Opportunities
- Increase in smart city initiatives worldwide
- Increase in connected devices to drive the growth of IoT
Restraints
- Privacy and security concerns over the use of IoT
- Lack of advancements in communication technology and poor operational efficiency in developing economies
Challenges
- Emerging 5G technology to help IoT adoption, globally
- Drones for the enforcement of compliance
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.