The global IoT of smart city market size is expected to grow from $111.3 billion in 2020 to $260 billion in 2025 with a CAGR of 18% over the forecast period. The increase in government initiatives and PPP models to provide advanced services to citizens, as well as the increasing adoption of connected smart technologies are expected to drive market growth. However, the lack of advances in telecommunications technology and reduced operational efficiencies in developing countries are among the factors that hinder industry growth.
A full report of IoT in Smart Cities Market is available at: https://www.orionmarketreports.com/iot-in-smart-cities-market/28482/
Globally, the demand for IoT services has grown rapidly over the past few years. The demand for this market has further increased as the introduction of new technologies based on IoT platforms and the increasing integration of IoT services have increased. Moreover, the increase in government programs for smart cities is considered a key sector for the growth of this market.
IoT in Smart Cities Market Segmentations
By Offering
• Solutions
• Services
By Solution
• Remote Monitoring
• Real-Time Location System
• Network Management
• Security
• Data Management
• Reporting and Analytics
By Services
• Professional Services
• Consulting
• System Integration and Deployment
• Support and Maintenance
• Managed Services
By Application
• Smart Transportation
• Smart Building
• Smart Utilities
• Smart Citizen Services
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Key Questions Answered by IoT in Smart Cities Market Report
• What was the IoT in Smart Cities Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2019-2025).
• What will be the CAGR of IoT in Smart Cities Market during the forecast period (2019-2025)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2019-2025)?
• Which manufacturer/vendor/players in the IoT in Smart Cities Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
