The Global Smart City Platforms Market size is expected to reach $248. 60 billion by 2027, rising at a market growth of 14. 7% CAGR during the forecast period. The concept of a smart city integrates many systems.
New York, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart City Platforms Market By Offering, By Delivery Model, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06222358/?utm_source=GNWAlso, these systems involve many facilities such as building automation systems, smart lighting systems, smart transportation systems, security and control systems, renewable power, intelligent grids, water treatment, and supply, and others. Additionally, the rapid pace of urbanization is further complementing the concept of smart cities, thereby creating bright growth opportunities for the smart city platforms market. In addition, the smart city platforms play a pivotal role in supporting urban infrastructure, services, and application, and other city-specific functions.Additionally, the drastic upsurge in population and rapid pace of urbanization is fuelling the requirement for sustainable infrastructure which would further drive the growth of the smart city platforms market in the upcoming years.COVID-19 Impact AnalysisMarkets, customer behaviors, societies, and economies witnessed the negative impact of the COVID-19 pandemic, though of varying intensity. Healthcare, media and entertainment, telecommunication, utilities, and government verticals are striving hard to bring normalization in the disrupted conditions and provide the required services to each person. In addition, the telecom industry is crucial to promote the digital infrastructure of nations in the midst of the COVID-19 pandemic.Recently, there has been a growing demand among many sectors for Advanced IoT-based smart city solutions, which can be efficiently integrated with cloud, big data, security, analytics, and network connectivity. The rising deployment of IoT technology in smart city applications like smart utilities and smart citizen services would increase the deployment of smart city platforms throughout the pandemic as regulatory bodies of several nations are focusing on monitoring the health, enhancing the safety & living standards of their citizens. Moreover, Vendors of IoT solutions are required to improve the management capabilities of their platforms in order to fulfill the need for managing IoT devices across several cities.Market Growth FactorsRising adoption of IoT technology for city monitoring and infrastructure managementIoT helps to establish a smooth connection between companies and governments with all smart opportunities like smart utilities, smart transportation, and smart cities, and in this manner, IoT allow these entities to get the real-time location-based data. In addition, IoT produces a massive amount of data from millions of sources in real-time. To implement IoT solutions in smart city projects, there is a need for combined efforts from various stakeholders, like telecom operators, manufacturers, infrastructure vendors, service vendors, user groups, and public sectors. Government bodies around the world support the use of the PPP model in order to promote smart city projects.Implementation of smart city platforms in industrial and commercial sectorsThe utilization and adoption of IoT are constantly increasing among various industrial verticals in order to automate their processes and increase throughput. Therefore, the smart city platforms market would witness bright growth prospects due to the high penetration of IoT and related technologies. In addition, a smart city platform enables users to integrate various sensors, people, machines, vehicles, and other devices across different applications and usage circumstances.Market Restraining FactorsIntegration of smart city platforms with traditional ERP systemsTraditional enterprise resource planning (ERP) software would witness higher preference among large businesses. In addition, smart city platforms solutions are not suitable to be utilized as isolated solutions in the digital architecture of the facility. Frequently, there is a need to integrate smart city platforms with ERP systems. Additionally, the integration of smart city platforms solutions with ERP systems is a complex task, as integration needs various phases to be completed.Offering OutlookBased on the Offering, the Smart City Platforms Market is segregated into Platforms (Connectivity Management Platform, Integration Platform, Device Management Platform, Security Platform, and Data Management Platform) and Services (Integration & Deployment, Advisory Consulting, and Support Maintenance). The services segment would showcase a higher growth rate over the forecasting period. In addition, many services are provided by the vendors of the smart city platform. These services help in streamlined installation, development, and maintenance of ongoing activities in the companies. Smart city platform vendors help and support customers, support teams, partners, employees, and marketing teams with scope for personal growth and training.Delivery OutlookBased on the Delivery Model, the Smart City Platform Market is divided into hybrid, offshore, and onshore. Onshore services are the services which are offered to the end-users within the same legal boundaries. These services are witnessing high demand due to the growing preference of companies to collaborate to service vendors within the same country. In addition, outsourcing to the organizations inside the same country would offer benefits related to the shared regulations.Regional OutlookBased on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific would showcase a promising growth rate in the market over the forecast years. Also, the region is quickly emerging in terms of adopting different smart city platforms. Some of the key countries fuelling the growth of the regional market are Japan and China.The major strategies followed by the market participants are Partnerships, Collaborations, and Agreements. Based on the Analysis presented in the Cardinal matrix Microsoft Corporation is the major forerunners in the Smart City Platforms Market. Companies such as Amazon.com, Inc. Intel Corporation, IBM Corporation are some of the key innovators in the Market.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Schneider Electric SE, Siemens AG, Microsoft Corporation, Amazon.com, Inc., Intel Corporation, Hitachi, Ltd., NEC Corporation, and Huawei Technologies Co., Ltd.Recent Strategies Deployed in Smart City Platform MarketPartnerships, Collaborations, and Agreements:Nov-2021: Microsoft signed an agreement with L&T Technology Services, a leader in global pure-play engineering services. Following the agreement, L&T would provide LTTS’ Energy & Sustainability Manager Solution on Microsoft Azure for the development and digital transformation of sustainable factories for the future.Nov -2021: Microsoft extended its partnership with ZF, a German car parts manufacturer. The collaboration aimed to integrate Microsoft Azure with the ZF cloud, a holistic data and integration platform, to bring digitalization in industrial and operational productivity and business processes.Oct-2021: Microsoft came into a partnership with the government of Manila city, the capital of the Philippines. The partnership aimed to innovate and expedite the digital transformation in the capital city of the Philippines. In addition, this partnership would empower more than two million residents for the Era of digitalization.Oct-2021: Siemens partnered with Deutsche Bahn, a German railway company. Following the partnership, the companies developed the world’s first automated driverless train in Germany. The new smart trains perfectly comply with the given timetable and are energy-saving.Sep-2021: HUAWEI came into a partnership with Tatweer Misr, an Egyptian shareholding real estate company. Through the partnership, the companies aimed to offer sustainable and smart technological software solutions to fulfill Tatweer Misr’s projects to create a completely connected intelligent world.Jul-2021: NEC formed a new multi-year partnership with Microsoft, an American multinational technology corporation. Through this partnership, the two companies would harness the potential of Microsoft 365, Microsoft Azure, NEC’s network and IT expertise such as 5G technologies, and each other’s AI and IoT solutions. Through this, the companies would assist the customers and the public sector across various markets and industries to expedite their cloud adoption and digital transformation initiatives.Jul-2021: NEC signed MoU with SUEZ, a utility company based in France. Following the agreement, the two companies would bring unparalleled, global expertise for the development of smart cities in Australia. Moreover, this partnership aimed to offer unmatched development to help the government, especially in the new city of Sydney.Jul-2021: Intel collaborated with Bharti Airtel, India’s leading communication solutions provider. Through this collaboration, the companies would utilize vRAN / O-RAN technologies to develop a 5G network.Jul-2021: IBM entered into a 10-year partnership with Bangalore International Airport Ltd (BIAL), the operator of the Kempegowda International Airport. Following this partnership, IBM and Kyndryl would offer IT solutions to BIAL with the purpose to develop a new platform named the “Airport in a Box” platform to modify the experiences of travelers.Jul-2021: Microsoft joined hands with the Ministry of Transportation and Communications of Qatar. The collaboration aimed to empower the TASMU Platform, an outstanding and unique smart city solution.Jul-2021: Oracle teamed up with Mishima City, a city situated in central Japan. The collaboration aimed to focus on various smart city initiatives to benefit the residents and local businesses and to showcase the impact of digital technologies on addressing major social issues.Jun-2021: Microsoft along with Mejo teamed up with Palantir and Sompo Holdings. Through this collaboration, the companies aimed to empower the advanced applications of connected vehicle data across the globe. Moreover, the partnership would support Wejo’s aim to build the vendor-agnostic industry guidelines in connected vehicle data, developing applications over multiple markets including fleet, smart city, automotive, insurance, payments, and mobility, etc.May-2021: Intel partnered with Disrupt-X, an IoT Development Company based in Dubai. Through this partnership, the companies rolled out Ignite Shield held on Amazon Web Services utilizing Intel Architecture.Apr-2021: Amazon Web Services collaborated with DISH Network, an American television provider. Following this collaboration, Amazon Web Services would provide cloud service to DISH Network and DISH Network would build its 5G network on Amazon Web Services. In addition, the companies would focus on transforming the way how companies and consumers, including Amazon and AWS, order and utilize 5G services or produce their own 5G networks.Apr-2021: Amazon Web Services came into an agreement with Open & Agile Smart Cities, a City network. Following the agreement, the companies will look out the ways to help the cities attain broadness, economic development, and interoperability.Apr-2021: Schneider partnered with NXN, a leader in providing end-to-end smart digital services for digital transformation. Through the partnership, the companies aimed to offer sophisticated solutions for the urban ecosystem of the Arabian Gulf. Moreover, the companies would integrate their technologies for the real estate industry and national smart city initiatives along with assisting the government and the developers of the gulf to deploy digital transformation initiatives.Mar-2021: Microsoft signed an agreement with Nokia, a multinational telecommunications, information technology, and consumer electronics company. Through this agreement, the companies aimed to design new ready-to-use wireless 4G and 5G multiple potential use cases which are suitable for companies. In addition, the collaboration would offer the operators on how the best adopt cloud technology in concert with their 5G updates to bring new revenue streams, decrease cost, and future proof their network investment.Mar-2021: Schneider formed a joint venture with SUEZ, a French-based utility company. Through this joint venture, the companies would support municipal water operators and industrial players to expedite their digital transformations, by offering them an innovative range of software solutions for planning, maintenance, operation, and optimization of water treatment infrastructure.Feb-2021: NEC collaborated with Smart City Thiruvananthapuram, a Special Purpose Vehicle (SPV) established for the implementation of Smart City Mission. Through this partnership, the company would strengthen its vision to jointly develop solutions for the future with the Government that is focusing on developing a seamless and advanced city infrastructure.Feb-2021: Siemens Advanta, a subsidiary of Siemens, came into a partnership with Bleutech Park, a planned mixed-use development project. Through this partnership, the companies aimed to develop a visionary smart city, thereby taking another step toward the fulfillment of the outstanding mixed-use development of Las Vegas.Oct-2020: NEC teamed up with Saharanpur Smart City Limited (SSCL). Through this collaboration, the entities aimed to deploy the Integrated Command and Control Centre as well as Smart Components in the Saharanpur City of Uttar Pradesh.Oct-2020: Microsoft extended its partnership with Bentley Systems, a software development company based in America. Following the expansion, the companies would focus on upgrading the infrastructure for smart city urban planning and smart construction.Jun-2020: Huawei signed an agreement with Batic, an investment firm based in Saudi Arabia. Following the agreement, Huwaei would offer smart city solutions to the country. Also, the agreement includes new-age and smart operations centers to make better decisions and monitor key performance indicators for smart cities.Acquisitions and Mergers:Oct-2021: Siemens acquired Wattsense, a French startup. Through this acquisition, Siemens became empowered to help companies across Europe to act in accordance with the Energy Performance of Buildings Directive (EPBD). This directive has the requirement for the buildings in the tertiary sector to have control and automation systems that enhance energy efficiency and decrease the excretion of CO2.Jun-2021: Hitachi Vantara, a subsidiary of Hitachi, completed its acquisition of Io-Tahoe, a division of Centrica which is an energy company based in the UK. Through this acquisition, the company aimed to integrate Io-Tahoe’s Data Automation expertise into its Lumada platform to enhance the capabilities of governance and data quality of Lumada for enterprise and IoT customers.Jun-2021: Schneider took over Etap, an analytical engineering solution company. Through this acquisition, the company aimed to lead smart and green electrification. With the support of Etap, Schneider aims to introduce a new range of advanced electrical supplies, with more digitalization across the world, and new equipment to strengthen its customers and allies to take better decisions and achieve excellence and sustainability.May-2020: Intel completed the acquisition of Moovit, a vendor of mobility-as-a-service (MaaS) solutions. Through this acquisition, Moovit would help Intel’s Israeli subsidiary, Mobileye, to become a total mobility vendor which includes robotaxi services.Apr-2020: Microsoft completed the acquisition of Affirmed Networks, a vendor of fully virtualized, cloud-native mobile core solutions. Through this acquisition, the company aimed to offer new opportunities to develop a 5G ecosystem across the globe.Mar-2021: Hitachi took over GlobalLogic, an American product engineering services company. Through this acquisition, the company aimed to grow its major segments viz. IT, Energy, Industry, Mobility and Smart Life sectors, and Astemo, an automotive systems business of Hitachi Astemo, a subsidiary of Hitachi by expediting the new generation digital transformation of social infrastructures including healthcare, energy, and rail across the globe.Mar-2021: Siemens took over C&S Electric, a manufacturer of electrical equipment. Through this acquisition, the company aimed to fulfill India’s increasing demand for low-voltage power supply, as well as to develop an export hub.Product Launches and Product Expansions:Oct-2021: Huawei rolled out GreenSite and PowerStar2.0 in its SRAN product range. Through this launch, the company aimed to assist the operators in building green, low-carbon 5G networks.Sep-2021: Huawei unveiled its Smart Port Solution. The new solution is designed to work in fields of visualized collaborative command, efficient comprehensive management, convenient clearance services, and intelligent customs clearance.May-2021: IBM unveiled upgrades in artificial intelligence (AI), hybrid cloud, and quantum computing. Through these improvements, the company aimed to help its allies and customers to expedite their digital transformation, return to work in a smarter way, and develop strategic ecosystems that enable better business outputs.Apr-2021: Schneider rolled out EcoStruxureTM Rail in India, an end-to-end digital solution. Following this launch, the company would develop a digital environment for a secure, capable, dependable, and sustainable metro rail operation across the country.Scope of the StudyMarket Segments covered in the Report:By Offering• Platformso Connectivity Management Platformo Integration Platformo Device Management Platformo Security Platformo Data Management Platform• Serviceso Integration & Deploymento Advisory Consultingo Support MaintenanceBy Delivery Model• Hybrid• Offshore• OnshoreBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• IBM Corporation• Oracle Corporation• Schneider Electric SE• Siemens AG• Microsoft Corporation• Amazon.com, Inc.• Intel Corporation• Hitachi, Ltd.• NEC Corporation• Huawei Technologies Co., Ltd.Unique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06222358/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________
CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
