The global market for smart city platforms is projected to have considerable CAGR of around 17.5% during the forecast period. The market growth mainly backed by the increasing government initiatives for the adoption of smart city platforms through various smart city projects across the globe. As cities across the globe witness an increase in growth, the requirement to operate efficiently, expand sustainability, and maintain a high-quality life for individuals becomes even more significant. Making cities smarter is rising as a significant area of focus for the private sector and government as well. However, with rapid urbanization becoming an inevitable fact, cities are facing increasing challenges to secure financially sustainable water and sanitation services for its citizenry. If matched with appropriate and effective ICT solutions in the form of smart city platforms, various issues within cities can be addressed appropriately and managed. Moreover, the integration of AI and Iot technology in smart city further provide significant opportunity to the market.
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The global smart city platforms market is segmented based on platform, and application. Based on the platform, the market is further classified into connectivity management platform, data management platform, device management platform, integration platform, and security platform . The data management platform segment is projected to have considerable share owing to the significant rise in big data analytics and growing demand of connected devices. On the basis of application the market is further segregated into smart utilities, smart mobility, smart security, smart governance, infrastructure management, and others.
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Global Smart City Platforms Market Segmentation
By Platform
· Connectivity Management Platform
· Data Management Platform
· Device Management Platform
· Integration Platform
· Security Platform
By Application
· Smart Utilities
· Smart Mobility
· Smart Security
· Smart Governance
· Infrastructure Management
· Others( Smart Healthcare)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
