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IoT in Smart Cities Market

Global IoT in Smart Cities Market Size, Share, Forecast: By Component: Solution, Services; By Deployment Model: On-Premises, Cloud; By Application: Smart Healthcare, Smart Infrastructure, Smart Energy, Smart Transportation Public Safety, Smart Building, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2023-2028

Global IoT in Smart Cities Market Outlook

The global IoT in smart cities market size reached a value of approximately USD 154.11 billion in 2022. The market is expected to grow at a CAGR of 18.40% between 2023 and 2028, reaching a value of USD 424.56 billion by 2028.

 

Key Trends in the Market

The Internet of Things (IoT) is a term that describes a network of objects that are connected into a through various sensors and software for centralised management and operations. IoT in smart cities refers to the use of IoT technology and devices in smart city applications, such as infrastructure, healthcare, energy, transportation, governance, and environmental monitoring.

 

Global IoT in Smart Cities Market

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  • The rising number of projects for smart cities around the world is one of the key factors influencing the growth of the global IoT in smart cities market. Incorporating IoT into smart city projects can enhance capabilities significantly while easing management.
  • During the forecast period, the growing inclination to use machine learning, artificial intelligence, and big data to improve people's lifestyles is anticipated to boost the growth of the global IoT in smart cities market.
  • Increasing urban populations are expected to be a key trend in the market for IoT in smart cities. As more people move to urban areas, there is greater importance on upgrading city facilities which can be done through the incorporation of IoT.

 

Market Analysis

Based on component, the market is segmented into solution and services. Solution is further sub-divided by solution type into location analytics, security management, real-time streaming analytics, remote monitoring system, data management solutions, and reporting and analytics. On the basis of deployment model, the IoT in smart cities market is bifurcated into on-premises and cloud.

 

Global IoT in Smart Cities Market

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By application, the market is categorised into smart healthcare, smart infrastructure, smart energy, smart transportation public safety, smart building, environmental monitoring, and smart governance, among others. The regional markets for IoT in smart cities are divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global IoT in smart cities market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Cisco Systems Inc.
  • Huawei Technologies Co., Ltd.
  • Nokia Corporation
  • Microsoft Corporation
  • ScienceSoft USA Corporation
  • Avnet, Inc. 
  • Thales Group
  • Intel Corporation
  • Others

 

Market Share by Component

The solution segment accounts for a significant share of the IoT in smart cities market by component due to the wide range of affordable and user-friendly solutions available. Depending upon the priority needs and preferences of buyers, specific solutions can be incorporated, ranging from location analytics and remote monitoring to data management and security management. Reporting and analytics solutions is commonly used as it provides data-based analysis that can be used to make date-based decisions. Meanwhile, the services segment, by component, is expected to witness steady growth in the coming years, fuelled by the preference of end users to fully outsource IoT applications.

 

Global IoT in Smart Cities Market

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Market Share by Region

North America accounted for a sizable share of the global IoT in smart cities market and is expected to continue to do so in the forecast period. Due to the presence of stable and established economies and high levels of technology penetration, the region is more likely to adopt IoT-based products and services. Several new smart cities are under planning and development in countries such as the United States and Canada, while selected cities have been identified for upgrades to a smart format by incorporating new technologies. The rising demand for IoT in new and existing cities is expected to bolster the market in North America in the coming years.

 

Competitive Landscape

Cisco Systems Inc. is a multinational corporation that specialises in networking hardware, software, telecommunications gear, and other high-tech services and products. Founded in 1984 with headquarters in California, United States, this company creates, produces, and sells networking equipment and services based on Internet Protocol.

 

Huawei Technologies Co., Ltd., headquartered in Shenzhen, China, and established in 1987, offers telecommunications and networking products. The company develops servers, security, storage, and other networking solutions in addition to internet access and transmission networks. Additional services of Huawei Technologies include business consultancy, network integration, managed services, and international delivery.

 

Nokia Corporation, founded in 1865, is a communications and information technology company based in Espoo, Finland. The company specialises in network infrastructure and cutting-edge technologies, offering services for 5G, IoT, IP routing, fixed networks, subscriber data management, mobile phones, Wi-Fi systems, and network construction and modernization.

 

Other market players include Microsoft Corporation, ScienceSoft USA Corporation, Avnet, Inc., Thales Group, and Intel Corporation, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Deployment Model
  • Application
  • Region
Breakup by Component
  • Solution
  • Services
Breakup by Deployment Model
  • On-Premises
  • Cloud
Breakup by Application
  • Smart Healthcare
  • Smart Infrastructure
  • Smart Energy
  • Smart Transportation Public Safety
  • Smart Building
  • Environmental Monitoring
  • Smart Governance
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Cisco Systems Inc.
  • Huawei Technologies Co., Ltd.
  • Nokia Corporation
  • Microsoft Corporation
  • ScienceSoft USA Corporation
  • Avnet, Inc. 
  • Thales Group
  • Intel Corporation
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Region
7    Opportunities and Challenges in the Market
8    Global IoT in Smart Cities Market Analysis
    8.1    Key Industry Highlights
    8.2    Global IoT in Smart Cities Historical Market (2018-2022) 
    8.3    Global IoT in Smart Cities Market Forecast (2023-2028)
    8.4    Global IoT in Smart Cities Market by Component
        8.4.1    Solution
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
            8.4.1.4    Breakup by Solution Type
                8.4.1.4.1    Location Analytics 
                8.4.1.4.2    Security Management 
                8.4.1.4.3    Real-Time Streaming Analytics 
                8.4.1.4.4    Remote Monitoring System 
                8.4.1.4.5    Data Management Solutions 
                8.4.1.4.6    Reporting and Analytics
        8.4.2    Services
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global IoT in Smart Cities Market by Deployment Model
        8.5.1    On-Premises
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Cloud
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global IoT in Smart Cities Market by Application
        8.6.1    Smart Healthcare 
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Smart Infrastructure
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Smart Energy 
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Smart Transportation Public Safety 
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022)
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Smart Building 
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022)
            8.6.5.3    Forecast Trend (2023-2028)
        8.6.6    Environmental Monitoring
            8.6.6.1    Market Share
            8.6.6.2    Historical Trend (2018-2022)
            8.6.6.3    Forecast Trend (2023-2028)
        8.6.7    Smart Governance
            8.6.7.1    Market Share
            8.6.7.2    Historical Trend (2018-2022)
            8.6.7.3    Forecast Trend (2023-2028)
        8.6.8    Others
    8.7    Global IoT in Smart Cities Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022) 
            8.7.5.3    Forecast Trend (2023-2028)
9    North America IoT in Smart Cities Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe IoT in Smart Cities Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific IoT in Smart Cities Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America IoT in Smart Cities Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa IoT in Smart Cities Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Cisco Systems Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Huawei Technologies Co., Ltd.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Nokia Corporation
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Microsoft Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    ScienceSoft USA Corporation
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Avnet, Inc. 
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Thales Group
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Intel Corporation
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global IoT in Smart Cities Market: Key Industry Highlights, 2018 and 2028
2.    Global IoT in Smart Cities Historical Market: Breakup by Component (USD Million), 2018-2022
3.    Global IoT in Smart Cities Market Forecast: Breakup by Component (USD Million), 2023-2028
4.    Global IoT in Smart Cities Historical Market: Breakup by Deployment Models (USD Million), 2018-2022
5.    Global IoT in Smart Cities Market Forecast: Breakup by Deployment Models (USD Million), 2023-2028
6.    Global IoT in Smart Cities Historical Market: Breakup by Application (USD Million), 2018-2022
7.    Global IoT in Smart Cities Market Forecast: Breakup by Application (USD Million), 2023-2028
8.    Global IoT in Smart Cities Historical Market: Breakup by Region (USD Million), 2018-2022
9.    Global IoT in Smart Cities Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    North America IoT in Smart Cities Historical Market: Breakup by Country (USD Million), 2018-2022
11.    North America IoT in Smart Cities Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Europe IoT in Smart Cities Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Europe IoT in Smart Cities Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Asia Pacific IoT in Smart Cities Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Asia Pacific IoT in Smart Cities Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Latin America IoT in Smart Cities Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Latin America IoT in Smart Cities Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Middle East and Africa IoT in Smart Cities Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Middle East and Africa IoT in Smart Cities Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Global IoT in Smart Cities Market Structure.

Key Questions Answered in the Report

What was the global IoT in smart cities market size in 2022?

In 2022, the global market for IoT in smart cities attained a value of approximately USD 154.11 billion.

What is the growth rate of the global IoT in smart cities market?

The market is projected to grow at a CAGR of 18.40% between 2023 and 2028.

What is the IoT in smart cities market forecast for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028, reaching USD 424.56 billion by 2028.

What are the major drivers of the market?

The major drivers of the market include the growing development of smart city projects, advances in IoT technologies, and increasing importance of energy efficient living.

What are the key trends of the market?

Increasing partnerships between countries and private companies, emergence of 5G technology, and rising adoption of smart home technologies are the key trends propelling the growth of the market.

What are the major regional markets for IoT in smart cities, according to the EMR report?

The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

What are the various applications of IoT in smart cities?

The various applications of IoT in smart cities are smart healthcare, smart infrastructure, smart energy, smart transportation public safety, smart building, environmental monitoring, and smart governance, among others.

Who are the key players in the market,according to the report?

The major players in the IoT in smart cities market,according to the report , are Cisco Systems Inc., Huawei Technologies Co., Ltd., Nokia Corporation, Microsoft Corporation, ScienceSoft USA Corporation, Avnet, Inc., Thales Group, and Intel Corporation, among others.

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