Dublin, Feb. 28, 2019 (GLOBE NEWSWIRE) -- The "Smart City Platforms Market by Platform Type (Connectivity Management Platform, Integration Platform, Device Management Platform, Security Platform, and Data Management Platform), Service, Delivery Model, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The Global Smart City Platforms Market Size is Expected to Grow from USD 104.6 Billion in 2018 to USD 223.3 Billion By 2023, at a CAGR of 16.4%

A huge opportunity for platform provider vendors is available due to the implementation of integrated Internet of Things (IoT) solutions in a smart city. These IoT solutions have various segments, such as hardware, software, and cloud security services. Presently, platform providers have to install, manage, and maintain technological solutions provided for smart cities in an integrated platform on a regular basis.

Platform providers act as intermediaries for implementing a particular technology in the smart city environment. Large system integrators are required in the smart city platforms market for carrying out various processes, such as process automation, security and surveillance systems, Environmental Management Systems (EMSs), and naval systems, including various industrial control systems' projects.

Moreover, the value addition in this market is driven by services, which provides an open opportunity for all types of platform providers, such as major IT vendors, infrastructure vendors, IT consultants and integrators, and various independent local integrators.

With the increase in the rate of adoption of IoT, the role of platform providers in the smart city value chain increases, thereby opening up lucrative opportunities for them.

Among services, the consulting and architecture designing segment is expected to account for the highest market share during the forecast period

The consulting and architecture designing segment is expected to account for the highest market share during the forecast period. Technological innovations across the smart city space have resulted in the consulting and architecture designing service to grow constantly.

Competent planning and consulting services, along with architecture designing are important for the development of smart city infrastructures, as these can provide cost-optimized facilities to the city.

Among delivery models, the hybrid segment is expected to dominate the market during the forecast period

The hybrid delivery model is a highly adopted model among other deployment models, owing to the connectivity management platform and security platform. In this delivery model, the benefits of onshore, as well as offshore can be gained.

The overall adoption of hybrid solutions is expected to increase during the forecast period, due to a wide range of functionalities and core features the solutions provide.

Among regions, Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period

APAC is expected to hold the highest CAGR among all regions, owing to the increasing adoption rate of IoT and rising demand for intelligent and smart solutions, while North America is expected to be the major contributor to the smart city platforms market.

Increasing citizen engagement is the major growth factor expected to drive the growth of the smart city platforms market.

Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Market Segmentation
1.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Factor Analysis
2.5 Assumptions for the Study
2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Global Market
4.2 Smart City Platforms Market, By Platform Type, 2018
4.3 Asia Pacific: Market By Delivery Model and Service, 2018

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Priority to Platform Providers Compared to Standalone Solutions
5.2.1.2 Increase in Demand for Platform Providers
5.2.1.3 Rising Urban Population and ITs Management
5.2.1.4 Increasing Adoption of the IoT Technology
5.2.2 Restraints
5.2.2.1 High Capital Expenditure
5.2.2.2 Inefficient Utilization of Resources in Developing Countries
5.2.3 Opportunities
5.2.3.1 Fast Growing Economies
5.2.3.2 Inception of the 5g Technology
5.2.3.3 Government Initiatives for Smart Cities
5.2.4 Challenges
5.2.4.1 Inefficient Telecom and Networking Infrastructure in Developing Countries
5.2.4.2 No Standardized Architecture for Smart City Platforms
5.3 Value Chain Analysis

6 Smart City Platforms Market, By Platform Type
6.1 Introduction
6.2 Connectivity Management Platform
6.2.1 Connectivity Being Backbone for Smart City Infrastructures Led to Prominent Market Share of Connectivity Management Platform
6.3 Integration Platform
6.3.1 Multiple Software and Hardware Deployments to Need Agile and Robust Integration
6.4 Device Management Platform
6.4.1 Large Number of Hardware Implementations to Involve Highly Effective Device Management Platform
6.5 Data Management Platform
6.5.1 Large Amount of Data Generation Throughout Smart Cities to Gain Strong Momentum of Data Management Platform in Coming Years
6.6 Security Platform
6.6.1 Cybersecurity Being Primary Concern for Smart City Stakeholders to Keep the Market for Security Platforms Ongoing

7 Smart City Platforms Market, By Service
7.1 Introduction
7.2 Consulting and Architecture Designing
7.2.1 Technological Innovations Across Smart City Arena Led to Constant Growth of Consulting and Architecture Designing Service
7.3 Infrastructure Monitoring and Management
7.3.1 Infrastructure Monitoring Management Being an Ongoing Service to Contribute Continuous Revenue Stream
7.4 Deployment and Training
7.4.1 Deployment of Technical Expertise to Be One of the Key Factors Affecting the Growth of Deployment and Training Services

8 Smart City Platforms Market, By Delivery Model
8.1 Introduction
8.2 Offshore
8.2.1 Rising Trend in Cloud-Based Services and Growing Need to Save Operation Expenditures Led to Growth of Offshore Delivery Model Exponentially
8.3 Hybrid
8.3.1 Low Cost and Ease of Implementation Led to Preference of Hybrid Delivery Model
8.4 Onsite
8.4.1 Rising Need for Cost-Efficient Operations Led to Low Demand for Onsite Delivery Model Compared to Hybrid and Offshore Delivery Models

9 Smart City Platforms Market, By Application
9.1 Smart Transportation
9.1.1 Advancement of New Technologies in Transportation Infrastructure
9.1.2 Use Case Scenarios
9.2 Public Safety
9.2.1 Growing Focus Toward Public Safety Solutions By Government
9.2.2 Use Case Scenarios
9.3 Smart Utilities
9.3.1 to Utilize Resources Efficiently Utmost Care to Be Taken for Augmenting Smart Utilities Sector
9.3.2 Use Case Scenarios
9.4 Infrastructure Management
9.4.1 Growing Need to Optimize Energy Consumption
9.4.2 Use Case Scenarios
9.5 Citizen Engagement
9.5.1 Smart Healthcare, E-governance, Smart Environmental Monitoring, and Smart Street Lighting to Be the Key Areas for Citizen Engagement
9.5.2 Use Case Scenarios

10 Smart City Platforms Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Existing Vast Smart City Initiatives in Terms of Innovations
10.2.2 Canada
10.2.2.1 Growing Awareness Toward Smart City Developments
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Highly Adaptable Region in Terms of Technology Acceptance
10.3.2 France
10.3.2.1 Strong Government Regulations to Support Smart City Initiatives
10.3.3 Germany
10.3.3.1 Proper Utilization of Existing Infrastructure to Transform Conventional Cities to Smart Cities
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Growing Proliferation and Acceptance of Technology to Support China Significantly
10.4.2 Japan
10.4.2.1 Technically Sound IT Infrastructure Enabled Japan to Witness Prominent Growth
10.4.3 South Korea
10.4.3.1 Test-Bed for Large Number of Technology Innovations to Support Significantly
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Strong Shift Toward Technology Utilization Led to Rapid Progress of the Middle East Countries
10.5.2 Africa
10.5.2.1 Technology Awareness Led to More Contribution of African Countries Toward Smart Cities
10.6 Latin America
10.6.1 Mexico
10.6.1.1 Favourable Government Regulations to Support Smart City Initiatives
10.6.2 Argentina
10.6.2.1 Increasing Need to Promote the Use of Technology
10.6.3 Brazil
10.6.3.1 One of the Fastest-Growing Economies

11 Competitive Landscape
11.1 Microquadrant Overview
11.1.1 Visionary Leaders
11.1.2 Innovators
11.1.3 Dynamic
11.1.4 Emerging
11.2 Ranking of Key Players for the Smart City Platforms Market, 2018
11.3 Competitive Benchmarking
11.3.1 Product Offering
11.3.2 Business Strategy

12 Company Profiles
12.1 Cisco
12.2 IBM
12.3 Microsoft
12.4 Hitachi
12.5 Siemens
12.6 Schneider Electric
12.7 Huawei
12.8 Intel
12.9 GE
12.10 AT&T
12.11 Oracle
12.12 Ericsson
12.13 Nokia
12.14 Itron
12.15 Verizon
12.16 SAP
12.17 Honeywell
12.18 Purple

For more information about this report visit https://www.researchandmarkets.com/research/kr2l5k/global_smart_city?w=12

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Related Topics: Internet of Things and M2M