USD 157.5 billion
Smart City Platform Market Size, Share, Growth Analysis, By Offering(Platforms (Connectivity Management Platforms, Integration Platforms, Device Management Platforms, Data Management Platforms), By Delivery Model(Offshore, Hybrid, and Onshore), By Application(Smart Transportation, Public Safety, Smart Energy & Utility, Infrastructure Management), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45A2355 |
Region:
Global |
Published Date: November, 2024
Pages:
196
|Tables:
92
|Figures:
74
Smart City Platform Market Insights
Smart City Platform Market size was valued at USD 207.13 Billion in 2023 and is poised to grow from USD 225.56 Billion in 2024 to USD 446.16 Billion by 2032, growing at a CAGR of 8.90% during the forecast period (2025-2032).
Smart city platforms offer means of communication and participation for citizens and governments. Increasing establishment of new smart cities around the world and growing efforts of governments to build new smart cities are forecasted to bolster the demand for smart city platforms over the coming years. Rapid urbanization and population growth are also responsible for the growing adoption of smart city platforms worldwide. High investments in smart city initiatives from the public, as well as private sectors, are also slated to benefit smart city platform market growth over the coming years. However, data and privacy concerns regarding data are estimated to impede the global smart city platform market development potential in the future. North America is predicted to dominate the global smart city platform marketplace with the United States leading the demand for smart city platforms over the coming years.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Platforms
Fastest Growth
Services
Growth Rate
11% CAGR
Global Smart City Platform Market ($ Bn)
Country Share for North America Region (%)
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Smart City Platform Market Segmental Analysis
Global Smart City Platform Market is segmented by Offering, Delivery Model, Application, and region. Based on Offering, the market is segmented into Platforms, and Services. Based on Delivery Model, the market is segmented into Offshore, Hybrid, and On-Site. Based on Application, the market is segmented into Smart Transportation, Public Safety, Smart Energy & Utility, Infrastructure Management, and Citizen Engagement. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Offering
Platforms segment is projected to account for a dominant share of the global smart city platform market. Monitoring, decision support, collaboration, and management are some key functions performed by smart city platform and this is what allows this segment to hold sway over others.
Rise in penetration smart city platforms is slated to boost the demand for smart city platform service segment at a rapid pace over the coming years. Growing need for proper maintenance of old and need for integration of old smart city platforms with new ones are also projected to help this segment expand at a notable pace in the future.
Analysis by Application
Infrastructure management applications are forecasted to account for a prominent chunk of the global smart city platform market revenue share. Increasing integration of smart technologies with existing infrastructure is another opportunity that will allow this application segment to hold a high market share. High investments in infrastructure development will also favor smart city platform market growth.
Smart city platforms for smart transportation applications are slated to increase in demand at a robust pace over the coming years. Increasing focus on improving smart transportation accessibility in smart cities is estimated to be the key trend for smart city platform providers in the future.
Global Smart City Platform Market By Offering
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Smart City Platform Market Regional Insights
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.
Asia Pacific is projected to emerge as the fastest-growing market in the world for smart city platform companies. Growing digitization in this region is slated to be a key factor predicted to boost smart city platform market growth going forward. China, Japan, India, and South Korea are estimated to be the top countries for smart city platform providers in this region. Rising internet penetration is also forecasted to help smart city platform market growth in the long run.
Global Smart City Platform Market By Region
- Largest
- Fastest
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Smart City Platform Market Dynamics
Drivers
Rising Urbanization
- 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.
Supportive Investments from Public Sector
- Smart cities are being fueled by investments from the public and private sectors. As governments emphasize and support the development of smart cities, this is estimated to augment the demand for smart city platforms in the future.
Restraints
Data Privacy Concerns
- Smart city platforms store important data regarding a city’s infrastructure and citizens living in it. Smart city platforms are connected to the internet, which makes them vulnerable to cyber-attacks and raises data privacy concerns. This could impede smart city platform market growth in the future.
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Smart City Platform Market Competitive Landscape
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.
Top Player’s Company Profiles
- IBM (US)
- Siemens (Germany)
- Cisco (US)
- Hitachi (Japan)
- Microsoft (US)
- Huawei (China)
- Google (US)
- Intel (US)
- Oracle (US)
- AWS (US)
- SAP (Germany)
- NEC (Japan)
- Fujitsu (Japan)
- Schneider Electric (France)
- Alibaba (China)
- Ericsson (Sweden)
- Sierra Wireless (Canada)
- Sice (Spain)
- Bosch.Io (Germany)
- Thethings.Io (Spain)
- Kaaiot Technologies (US)
- Siradel (France)
- Smarter City Solutions (Australia)
- Quantela (US)
- Fybr (US)
- Ubicquia (US)
- Verdigris Technologies (US)
- Softdel (India)
- Igor (US)
- 75F (US)
- Telensa (UK)
- Enevo (Finland)
- Confidex (Finland)
- Ketos (US)
- Cleverciti (Germany)
Recent Developments
- In November 2023, Chandigarh Smart City Limited (CSCL) announced the launch of a new AI chatbot for citizen services. The new chatbot was named BIRBAL and was linked to all citizen services provided in the city by its administration.
- In July 2021, Microsoft, a leading name in the technology business, announced the launch of its new smart city solution called TASMU platform. The new smart city platform is cloud-based.
Smart City Platform Key Market Trends
- 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.
Smart City Platform Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, growing investments in development of smart cities and increasing urbanization are predicted to boost smart city platform demand outlook over the coming years. However, data security and privacy concerns are estimated to hamper smart city platform market growth in the long run. North America is estimated to dominate the global smart city platform demand outlook owing to the presence of well-developed smart infrastructure and high spending potential. Smart city platform companies should focus on improving the interoperability of their offerings to maximize their business scope.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 190.2 billion |
| Market size value in 2031 | USD 409.7 billion |
| Growth Rate | 8.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart City Platform Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart City Platform Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart City Platform Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart City Platform Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart City Platform Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart City Platform Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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