IoT in Smart Cities Market by Solution (Remote Monitoring, Network Management, Analytics, RTLS, Security), Service, Application (Smart Transportation, Buildings, Utilities, Healthcare and Public Safety), and Region - Global Forecast to 2023
[130 Pages Report] The Internet of Things (IoT) in smart cities market is projected to grow from USD 79.5 billion in 2018 to USD 219.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.5% from 2018 to 2023. The major factors driving the growth of the IoT in smart cities market are the increasing number of government initiatives and PPP models for smart cities, improvements in the communication infrastructure brought on by IoT, and rising adoption of connected and smart technologies in smart cities initiatives.
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Among solutions, the remote monitoring segment of the IoT in smart cities market is projected to grow at the highest CAGR during the forecast period
Among the solutions, remote monitoring is projected to lead the market with respect to market size during the forecast period. The major factor attributing to the segment growth is the rising adoption of connected and smart technologies involved in the implementation of IoT in smart cities solutions. These solutions help in security and monitor the assets from a remote location without physical presence. This is helping governments deliver efficient services to its citizen and also secure assets remotely.
Among applications, the smart citizen services segment is expected to lead the IoT in smart cities market during the forecast period
Among applications, the smart citizen services segment is projected to lead during the forecast period. Smart citizen services includes education, healthcare, and public safety where the adoption of IoT is huge. The growth of this segment can be attributed to the tremendous rise in IoT devices to improve healthcare, education and public safety services for its citizens.
The North American region is expected to lead the IoT in smart cities market in 2018
The North American region leads the IoT in smart cities market with respect to market size in 2018, due to early adoption of technology, strict regulations, and large-scale investments in the region. Furthermore, APAC is leading with respect to CAGR among the regions. IoT is rapidly gaining traction due to increasing smart city initiatives. These initiatives are further inviting the technology vendors to collaborate with the governments to provide smarter ecosystem for citizens. The increasing urban population and the concerns over ecological imbalances are also driving the market. The rapid growth in APAC market can be attributed to the increasing technology spending and ongoing smart city projects.
Key Market Dynamics in IoT in Smart Cities Market
Increasing number of government initiatives and PPP models for smart cities
Deployment of IoT in smart city projects requires joint efforts from multiple stakeholders, such as telecom operators, infrastructure providers, service providers, manufacturers, public sectors, and user groups. The PublicPrivate Partnership (PPP) model is the most encouraged model by government authorities globally to promote the smart cities initiatives. It enables the private sector companies to participate in the governments smart cities initiatives for deploying and financing the projects. For instance, Kansas City has partnered with Cisco, Sprint, and ThinkBig on a smart city program, which aims to make the city the most connected city in the world and attract the technology, innovation, and entrepreneurial community.
Lack of advancements in communication technology and poor operational efficiency in developing economies
Technology advancements and operational efficiency are the key factors responsible for the successful functioning of IoT in smart cities. Various countries in APAC, MEA, and Latin America suffer from the unavailability of basic technologies, such as telecom and networking infrastructure, and are not able to rapidly implement smart projects due to various factors, such as low budget and low literacy rate. The 4G technology in several countries is yet to be mature or even introduced, whereas countries, such as China, are having trials on the 5G technology. Though the governments of such countries are aware of smart cities benefits and huge RoI from the market, the initial budget constraint plays a key role in lowering the development rate of smart cities in such countries. Even developed countries, such as those of Europe and North America, face difficulties in placing their legacy infrastructures with new and smart ones.
Emerging 5G technology to help IoT adoption globally
The high speeds and low latencies of 5G networks lend themselves to IoT in smart cities. Next-generation wireless networks would be an essential weapon for the successful adoption of IoT, especially in smart cities.
Policies to support R&D and commercialize 5G have been drawn globally, which would help increase IoT usage. For example, China is planning to implement the 5G technology for a multitude of life-transforming applications, from 3D video to immersive media to autonomous vehicles, and to enable IoT in smart cities. China is expecting to reach 576 million 5G connections by 2025, which covers almost 40% of 5G connections, globally.
Huge initial investments required for IoT in smart cities
One of the major challenges for the growth of the IoT in smart cities market is project funding for huge initial capital expenditure. It has become the national/local governments prime responsibility to heavily invest in the transformation process of the city infrastructure. It is easy to understand that even while governments possess the need, vision, and clarity for such transformations, lack of budgetary allocations for any large-scale implementations hinders the pace of the transformation process, either directly or indirectly. Such heavy investments could also add to the economic burden of debt-ridden governments or local municipal authorities, which adversely affects future general budgets.
Government regulatory authorities are forced to monetize these systems and ensure significant RoI before considering new technology deployments, such as IoT. Hence, the cost incurred in the transformation of the existing infrastructure acts as a deterrent for governments to continue large-scale investments. Though smarter infrastructure helps reduce the operating costs and increase efficiency, the initial costs required pose a major barrier.
IoT in Smart Cities Market: Research Design
Scope of the Report
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Report Metrics |
Details |
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Market size available for years |
20162023 |
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Base year considered |
2017 |
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Forecast period |
20182023 |
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Forecast units |
Value (USD Million) |
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Segments covered |
Offerings, Solutions, Services, Applications, and Regions |
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Regions covered |
North America, Europe, APAC, Latin America, and MEA |
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Companies covered |
Cisco (US), IBM (US), Intel (US), Huawei (China), Microsoft (US), Tech Mahindra (India), Honeywell (US), Siemens (Germany), Bosch Software Innovations (Germany), PTC (US), Schneider Electric (US), ARM (UK), Quantela (US), Sierra Wireless (Canada), and Hitachi (Japan) |
Key Market Players
Cisco (US), IBM (US), Intel (US), Huawei (China), Microsoft (US), Honeywell (US).
Recent Developments
- In November 2018, Intel launched Intel Neural Compute Stick 2 (Intel NCS 2), designed to build smarter AI algorithms and prototype computer vision at the network edge in its first hosting of the AI developer conference in Beijing.
- In November 2018, Huawei launched PoleStar2.0 at the 2018 Global Mobile Broadband Forum. PoleStar2.0 is an infrastructure in smart cities, supporting a diverse range of services, such as 5G mobile communication, smart lighting, smart monitoring, IoT, smart environmental protection, and city information release.
- In September 2018, Cisco Systems signed an agreement with the Indonesian government for its global Country Digital Acceleration (CDA) program. This program would focus on digital governments, digital industries, digital state-owned enterprises, and cybersecurity and digital inclusions.
- In September 2017, Microsoft partnered with Innofactor, a Finnish provider of software in the Nordic countries. This partnership helped in transforming virtual healthcare data into actionable insights by creating a cloud-based IoT solution that transfers data from network-connected devices to Microsofts Azure and Dynamics 365 CRM system.
Available customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Regional analysis
- Further breakdown of the US IoT in smart cities market, by type
- Further breakdown of the UK market, by type
Company information
- Detailed analysis and profiling of additional market players (up to 5)
Key questions addressed by the report
- What are the growth opportunities in the IoT in smart cities market?
- What is the competitive landscape scenario in the market?
- What are the regulations that are expected to have an impact on the market?
- What are the dynamics of the market?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
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 Considered
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Breakup of Primary Profiles
2.1.2 Key Industry Insights
2.2 Market Breakdown and Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
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 IoT in Smart Cities Market
4.2 Market By Offering, 20182023
4.3 Market By Solution, 20182023
4.4 Market By Service, 20182023
4.5 Market By Application, 20182023
4.6 Market Investment Scenario
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of Government Initiatives and PPP Models for Smart Cities
5.2.1.2 IoT to Bring Improvements to the Communication Infrastructure
5.2.1.3 Rising Adoption of Connected and Smart Technologies in Smart Cities Initiatives
5.2.2 Restraints
5.2.2.1 Privacy and Security Concerns Over the Use of IoT
5.2.2.2 Lack of Advancements in Communication Technology and Poor Operational Efficiency in Developing Economies
5.2.3 Opportunities
5.2.3.1 Increase in Smart City Initiatives Worldwide
5.2.3.2 Increase in Connected Devices to Drive the Growth of IoT
5.2.3.2.1 Smart Meters
5.2.3.2.2 Smart Appliances
5.2.3.3 Emerging 5G Technology to Help IoT Adoption, Globally
5.2.4 Challenges
5.2.4.1 Lack of Knowledge Among People About IoT and Smart Cities
5.2.4.2 Huge Initial Investments Required for IoT in Smart Cities
5.3 Industry Trends
5.3.1 Use Cases
5.3.1.1 Use Case 1: Cisco: Wi-Fi Paves the Way for IoT Platform to Make the Government More Efficient
5.3.1.2 Use Case 2: IBM: Building Citizen-Focused Public Services in Jakarta
5.3.1.3 Use Case 3: Nokia: Smart Tampere Initiative for the Digital Technology Implementation
5.3.1.4 Use Case 4: Huawei: Build Smart City Network (Inspired By Nervous System) in Rivas-Vaciamadrid, Spain
5.3.1.5 Use Case 5: Compology: Startup Working on Municipal Service Management in Boston and Baltimore Cities in the US
5.4 Ecosystem Analysis
5.4.1 Smart Transportation
5.4.2 Smart Buildings
5.4.3 Smart Utilities
5.4.4 Smart Citizen Services
6 IoT in Smart Cities Market, By Offering
6.1 Introduction
6.2 Solutions
6.2.1 Rapid Digitalization to Increase the Demand for IoT Solutions
6.3 Services
6.3.1 Requirement of Highly Customized Solutions and Need to Focus on Core Operations to Drive the Market of Services Segment
7 IoT in Smart Cities Market, By Solution
7.1 Introduction
7.2 Remote Monitoring
7.2.1 Need for Monitoring Diverse Facilities to Increase the Demand for Remote Monitoring Solution
7.3 Real-Time Location System
7.3.1 MEA to Show High Growth for Real-Time Location System
7.4 Network Management
7.4.1 Demand for Network Management Solution to Be High in North America
7.5 Security
7.5.1 Cyber-Attacks on Smart Cities Infrastructure to Raise the Demand for Security Solution
7.6 Data Management
7.6.1 Need to Manage Data From Various Applications to Drive the Market of Data Management
7.7 Reporting and Analytics
7.7.1 Need to Translate Raw Data Into Useful Information Increased the Demand for Reporting and Analytics Solution
8 Market, By Service
8.1 Introduction
8.2 Professional Services
8.2.1 Consulting
8.2.1.1 Surge in Demand for Highly Customized IoT Services to Increase the Demand for Consulting Services
8.2.2 Deployment and System Integration
8.2.2.1 Need to Integrate With Existing Systems to Increase the Demand for Deployment and System Integration Services
8.2.3 Support and Maintenance
8.2.3.1 24/7 Troubleshooting Assistance, Software Upgrade, and Other Services to Increase the Demand for Support and Maintenance Services
8.3 Managed Services
8.3.1 Increasing Adoption of Outsourced IoT Services to Drive the Managed Services Market
9 IoT in Smart Cities Market, By Application
9.1 Introduction
9.2 Smart Transportation
9.2.1 Rapid Increase in Traffic Congestion to Create A Demand for IoT
9.3 Smart Building
9.3.1 Commercial Buildings to Rapidly Implement IoT Solutions for Optimizing Their Energy Consumption
9.4 Smart Utilities
9.4.1 Increasing Focus on Optimizing Resources With Minimal Downtime and Wastage to Increase the Demand for IoT Solutions
9.5 Smart Citizen Services
9.5.1 Education
9.5.1.1 Increasing Adoption of Mobile Devices and Tablets to Drive IoT Penetration in Education
9.5.2 Healthcare
9.5.2.1 IoT to Be Used Extensively in Medical Records Management, Remote Monitoring, Data Analytics, and Telemedicine
9.5.3 Public Safety
9.5.3.1 High Risk and Threat of Potential Damage From External Attacks and Natural Calamities to Increase the Adoption of IoT in Public Safety
10 IoT in Smart Cities Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Developing Innovation Hubs and Recent Government Acts Demand for IoT in Smart Cities Solutions
10.2.2 Canada
10.2.2.1 R&D Expenditure Made By Canadian Companies Led to Significant Breakthroughs
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Suitable Government Initiatives to Adopt More IoT in Smart Cities Solutions and Services
10.3.2 Germany
10.3.2.1 Germany is Focusing on IoT in Smart Cities for Deploying Smart Citizen Services
10.3.3 France
10.3.3.1 Corporate Companies to Put Forth Many IoT in Smart Cities Initiatives
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Early Mover Strategy in IoT to Demand More IoT in Smart Cities Solutions
10.4.2 Japan
10.4.2.1 Japanese Government to Focus More on Operational Efficiency
10.4.3 Singapore
10.4.3.1 Favorable Government Initiatives to Convert Cities Into Smart Cities
10.4.4 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 Kingdom of Saudi Arabia
10.5.1.1 Focus on Smart Grids and Other Smart Utility Services is Propelling Market Growth in the Country
10.5.2 Israel
10.5.2.1 Israels Focus to Digitally Transform the Governments Services Calls for the Adoption of IoT in Smart Cities Solutions
10.5.3 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Us-Based IT Companies to Expand Their Footprint Across the Country to Led the Adoption of IoT in Smart Cities Solutions
10.6.2 Mexico
10.6.2.1 Growth in Digital Citizen Services to Lead the Adoption of IoT in Smart Cities Projects
10.6.3 Rest of Latin America
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis for the IoT in Smart Cities Market
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Business Expansions
11.3.3 Agreements/Partnerships
12 Company Profiles
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, MnM View) *
12.1 IBM
12.1.1 Business Overview
12.1.2 Company Snapshot
12.1.3 Financial Overview (Operating Income & R&D Expenditure, Business & Geographical Revenue Mix)
12.1.4 Products/Services Offered
12.1.5 Recent Developments
12.1.5.1 New Product Launches, 20152017
12.1.5.2 Business Expansions, 20152017
12.1.5.3 Mergers And Acquisitions/Venture Funding, 20152017
12.1.5.4 Agreements And Partnerships, 20152017
12.1.6 Swot Analysis
12.1.7 MnM View
12.2 Cisco
12.2.1 Business Overview
12.2.2 Company Snapshot
12.2.3 Financial Overview (Operating Income & R&D Expenditure, Business & Geographical Revenue Mix)
12.2.4 Products/Services Offered
12.2.5 Recent Developments
12.2.5.1 New Product Launches, 20152017
12.2.5.2 Business Expansions, 20152017
12.2.5.3 Mergers And Acquisitions/Venture Funding, 20152017
12.2.5.4 Agreements And Partnerships, 20152017
12.2.6 Swot Analysis
12.2.7 MnM View
12.3 Intel
12.3.1 Business Overview
12.3.2 Company Snapshot
12.3.3 Financial Overview (Operating Income & R&D Expenditure, Business & Geographical Revenue Mix)
12.3.4 Products/Services Offered
12.3.5 Recent Developments
12.3.5.1 New Product Launches, 20152017
12.3.5.2 Business Expansions, 20152017
12.3.5.3 Mergers And Acquisitions/Venture Funding, 20152017
12.3.5.4 Agreements And Partnerships, 20152017
12.3.6 Swot Analysis
12.3.7 MnM View
12.4 Huawei
12.4.1 Business Overview
12.4.2 Company Snapshot
12.4.3 Financial Overview (Operating Income & R&D Expenditure, Business & Geographical Revenue Mix)
12.4.4 Products/Services Offered
12.4.5 Recent Developments
12.4.5.1 New Product Launches, 20152017
12.4.5.2 Business Expansions, 20152017
12.4.5.3 Mergers And Acquisitions/Venture Funding, 20152017
12.4.5.4 Agreements And Partnerships, 20152017
12.4.6 Swot Analysis
12.4.7 MnM View
12.5 Microsoft
12.5.1 Business Overview
12.5.2 Company Snapshot
12.5.3 Financial Overview (Operating Income & R&D Expenditure, Business & Geographical Revenue Mix)
12.5.4 Products/Services Offered
12.5.5 Recent Developments
12.5.5.1 New Product Launches, 20152017
12.5.5.2 Business Expansions, 20152017
12.5.5.3 Mergers And Acquisitions/Venture Funding, 20152017
12.5.5.4 Agreements And Partnerships, 20152017
12.5.6 Swot Analysis
12.5.7 MnM View
12.6 Tech Mahindra
12.7 Honeywell
12.8 Siemens
12.9 Bosch Software Innovations
12.12 PTC
12.11 Schneider Electric
12.12 Arm
12.13 Quantela
12.14 Sierra Wireless
12.15 Hitachi
12.16 Oracle
12.17 Nokia
12.18 Verizon
12.19 Toshiba Corporation
12.20 ABB
*Details On MarketsandMarkets View, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments Might Not Be Captured In Case Of Unlisted Companies.
13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets Subscription Portal
13.3 Introducing Rt: Real-Time Market Intelligence
13.4 Available Customization
13.5 Related Reports
13.6 Author Details
List Of Tables (108 Tables)
Table 1 United States Dollar Exchange Rate, 20152018
Table 2 Factors Analysis
Table 3 IoT In Smart Cities Market Size, By Offering, 20162023 (USD Billion)
Table 4 Solutions: Market Size By Region, 20162023 (USD Billion)
Table 5 Services: Market Size By Region, 20162023 (USD Billion)
Table 6 IoT In Smart Cities Market Size, By Solution, 20162023 (USD Billion)
Table 7 Remote Monitoring: Market Size By Region, 20162023 (USD Billion)
Table 8 Real-Time Location System: Market Size By Region, 20162023 (USD Billion)
Table 9 Network Management: Market Size By Region, 20162023 (USD Billion)
Table 10 Security: IoT In Smart Cities Market Size, By Region, 20162023 (USD Billion)
Table 11 Data Management: Market Size By Region, 20162023 (USD Billion)
Table 12 Reporting And Analytics: Market Size By Region, 20162023 (USD Billion)
Table 13 Market Size, By Service, 20162023 (USD Billion)
Table 14 Professional Services: Market Size By Region, 20162023 (USD Billion)
Table 15 IoT In Smart Cities Market Size, By Professional Service, 20162023 (USD Billion)
Table 16 Consulting: Market Size By Region, 20162023 (USD Billion)
Table 17 Deployment And System Integration: Market Size By Region, 20162023 (USD Billion)
Table 18 Support And Maintenance: Market Size By Region, 20162023 (USD Billion)
Table 19 Managed Services: Market Size By Region, 20162023 (USD Billion)
Table 20 IoT In Smart Cities Market Size, By Application, 20162023 (USD Billion)
Table 21 Smart Transportation: Market Size By Region, 20162023 (USD Billion)
Table 22 Smart Building: Market Size By Region, 20162023 (USD Billion)
Table 23 Smart Utilities: Market Size By Region, 20162023 (USD Billion)
Table 24 Smart Citizen Services: Market Size By Region, 20162023 (USD Billion)
Table 25 Smart Citizen Services: Market Size By Service, 20162023 (USD Billion)
Table 26 Education Market Size, By Region, 20162023 (USD Billion)
Table 27 Healthcare Market Size, By Region, 20162023 (USD Billion)
Table 28 Public Safety Market Size, By Region, 20162023 (USD Billion)
Table 29 IoT In Smart Cities Market Size, By Region, 20162023 (USD Billion)
Table 30 North America: Market Size By Offering, 20162023 (USD Billion)
Table 31 North America: Market Size By Solution, 20162023 (USD Billion)
Table 32 North America: Market Size By Service, 20162023 (USD Billion)
Table 33 North America: Market Size By Professional Service, 20162023 (USD Billion)
Table 34 North America: Market Size By Application, 20162023 (USD Billion)
Table 35 North America: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 36 North America: Market Size By Country, 20162023 (USD Billion)
Table 37 Us: Market Size By Offering, 20162023 (USD Billion)
Table 38 Us: Market Size By Solution, 20162023 (USD Billion)
Table 39 Us: Market Size By Service, 20162023 (USD Billion)
Table 40 Us: Market Size By Professional Service, 20162023 (USD Billion)
Table 41 Us: Market Size By Application, 20162023 (USD Billion)
Table 42 Us: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 43 Canada: Market Size By Offering, 20162023 (USD Billion)
Table 44 Canada: Market Size By Solution, 20162023 (USD Billion)
Table 45 Canada: Market Size By Service, 20162023 (USD Billion)
Table 46 Canada: Market Size By Professional Service, 20162023 (USD Billion)
Table 47 Canada: Market Size By Application, 20162023 (USD Billion)
Table 48 Canada: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 49 Europe: IoT In Smart Cities Market Size, By Offering, 20162023 (USD Billion)
Table 50 Europe: Market Size By Solution, 20162023 (USD Billion)
Table 51 Europe: Market Size By Service, 20162023 (USD Billion)
Table 52 Europe: Market Size By Professional Service 20162023 (USD Billion)
Table 53 Europe: Market Size By Application, 20162023 (USD Billion)
Table 54 Europe: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 55 Europe: Market Size By Country, 20162023 (USD Billion)
Table 56 Uk: Market Size By Offering, 20162023 (USD Billion)
Table 57 Uk: Market Size By Solution, 20162023 (USD Billion)
Table 58 Uk: Market Size By Service, 20162023 (USD Billion)
Table 59 Uk: Market Size By Professional Service, 20162023 (USD Billion)
Table 60 Uk: Market Size By Application, 20162023 (USD Billion)
Table 61 Uk: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 62 Israel: Market Size By Offering, 20162023 (USD Billion)
Table 63 Israel: Market Size By Solution, 20162023 (USD Billion)
Table 64 Israel: Market Size By Service, 20162023 (USD Billion)
Table 65 Israel: Market Size By Professional Service, 20162023 (USD Billion)
Table 66 Israel: Market Size By Application, 20162023 (USD Billion)
Table 67 Israel: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 68 Asia Pacific: IoT In Smart Cities Market Size, By Offering, 20162023 (USD Billion)
Table 69 Asia Pacific: Market Size By Solution, 20162023 (USD Billion)
Table 70 Asia Pacific: Market Size By Service, 20162023 (USD Billion)
Table 71 Asia Pacific: Market Size By Professional Service, 20162023 (USD Billion)
Table 72 Asia Pacific: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 73 Asia Pacific: Market Size By Country, 20162023 (USD Billion)
Table 74 China: Market Size By Offering, 20162023 (USD Billion)
Table 75 China: Market Size By Solution, 20162023 (USD Billion)
Table 76 China: Market Size By Service, 20162023 (USD Billion)
Table 77 China: Market Size By Professional Service, 20162023 (USD Billion)
Table 78 China: Market Size By Application, 20162023 (USD Billion)
Table 79 China: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 80 Middle East And Africa: IoT In Smart Cities Market Size, By Offering, 20162023 (USD Billion)
Table 81 Middle East And Africa: Market Size By Solution, 20162023 (USD Billion)
Table 82 Middle East And Africa: Market Size By Service, 20162023 (USD Billion)
Table 83 Middle East And Africa: Market Size By Professional Service, 20162023 (USD Billion)
Table 84 Middle East And Africa: Market Size By Application, 20162023 (USD Billion)
Table 85 Middle East And Africa: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 86 Middle East And Africa: Market Size By Country, 20162023 (USD Billion)
Table 87 Israel: Market Size By Offering, 20162023 (USD Billion)
Table 88 Israel: Market Size By Solution, 20162023 (USD Billion)
Table 89 Israel: Market Size By Service, 20162023 (USD Billion)
Table 90 Israel: Market Size By Professional Service, 20162023 (USD Billion)
Table 91 Israel: Market Size By Application, 20162023 (USD Billion)
Table 92 Israel: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 93 Latin America: IoT In Smart Cities Market Size, By Offering, 20162023 (USD Billion)
Table 94 Latin America: Market Size By Solution, 20162023 (USD Billion)
Table 95 Latin America: Market Size By Service, 20162023 (USD Billion)
Table 96 Latin America: Market Size By Professional Service, 20162023 (USD Billion)
Table 97 Latin America: Market Size By Application, 20162023 (USD Billion)
Table 98 Latin America: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 99 Latin America: Market Size By Country, 20162023 (USD Billion)
Table 100 Brazil: Market Size By Offering, 20162023 (USD Billion)
Table 101 Brazil: Market Size By Solution, 20162023 (USD Billion)
Table 102 Brazil: Market Size By Service, 20162023 (USD Billion)
Table 103 Brazil: Market Size By Professional Service, 20162023 (USD Billion)
Table 104 Brazil: Market Size By Application, 20162023 (USD Billion)
Table 105 Brazil: Market Size By Smart Citizen Service, 20162023 (USD Billion)
Table 106 New Product Launches, 20162018
Table 107 Business Expansions, 20172018
Table 108 Agreements/Partnerships, 20162018
List of Figures (35 Figures)
Figure 1 IoT In Smart Cities Market: Research Design
Figure 2 Research Methodology
Figure 3 Market Size 20162023
Figure 4 Market Analysis
Figure 5 Fastest-Growing Segments In The IoT In Smart Cities Market, 20182023
Figure 6 IoT In Smart Cities Market: Regional Analysis, 2018
Figure 7 Increasing Smart City Initiatives To Drive The Market Growth During The Forecast Period
Figure 8 Solutions Segment To Lead The Market During The Forecast Period
Figure 9 Remote Monitoring Segment To Lead The Market During The Forecast Period
Figure 10 Professional Services Segment To Lead The Market During The Forecast Period
Figure 11 Smart Citizen Services Segment To Lead The Market During The Forecast Period
Figure 12 IoT In Smart Cities Market: Market Investment Scenario
Figure 13 Drivers, Restraints, Opportunities, And Challenges: IoT In Smart Cities Market
Figure 14 Market Smart Transportation Ecosystem Analysis
Figure 15 Market Smart Buildings Ecosystem Analysis
Figure 16 Market Smart Utilities Ecosystem Analysis
Figure 17 Market Smart Citizen Services Ecosystem Analysis
Figure 18 Services Segment To Grow At A Higher Cagr During The Forecast Period
Figure 19 Reporting And Analytics Segment To Grow At The Highest Cagr During The Forecast Period
Figure 20 Managed Services Segment To Grow At A Higher Cagr During The Forecast Period
Figure 21 Smart Transportation Segment To Grow At The Highest Cagr During The Forecast Period
Figure 22 Asia Pacific To Grow At The Highest Cagr During The Forecast Period
Figure 23 North America: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Key Developments By Leading Players In The IoT In Smart Cities Market During 20152018
Figure 26 Market Ranking, 2018
Figure 27 IBM: Company Snapshot
Figure 28 Cisco: Company Snapshot
Figure 29 Intel: Company Snapshot
Figure 30 Huawei: Company Snapshot
Figure 31 Microsoft: Company Snapshot
Figure 32 Tech Mahindra: Company Snapshot
Figure 33 Honeywell: Company Snapshot
Figure 34 Siemens: Company Snapshot
Figure 35 PTC: Company Snapshot
The study on the Internet of Things (IoT) in smart cities market involved 4 major activities to estimate its current market size. Exhaustive secondary research was carried out to collect information on the IoT in smart cities market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain of IoT in smart cities solutions and services using primary research. Both, top-down and bottom-up approaches were employed to estimate the overall size of the market. Thereafter, the market breakdown and data triangulation procedures were used to estimate the size of various segments and subsegments of the IoT in smart cities market.
Secondary Research
In the secondary research process, various secondary sources, such as D&B Hoovers and Bloomberg Businessweek, were referred to identify and collect information for this study on the IoT in smart cities market. These secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, certified publications and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The IoT in smart cities market comprises several stakeholders such as service providers, solution vendors, manufacturers, trade associations, government authorities, Environmental Working Group (EWG), raw material and component suppliers, Value-Added Resellers (VARs) and distributors, and non-governmental organizations (environmental and public health). The demand-side of the IoT in smart cities market consists of all the firms operating especially in the Information technology industry and government organisations. The supply-side includes providers of IoT in smart cities solutions and services. Various primary sources from both, supply- and demand-side of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of the profiles of primary respondents:
Market Size Estimation
Top-down and bottom-up approaches were used to estimate and validate the size of the IoT in smart cities market and various other dependent submarkets. While using the top-down approach, an exhaustive list of vendors offering IoT in smart cities solutions and services was prepared. The shares for these vendors in the market were estimated through annual reports, press releases, investor presentations, paid databases, and primary interviews. Each vendor was evaluated based on solutions and services offered by them based on offering, application, and region. The aggregate of revenues of all companies was extrapolated to reach the overall size of the market. Each subsegment was studied and analyzed to obtain its market size and estimate its regional penetration. The markets were triangulated through both, primary and secondary research. The primary procedure included extensive interviews for key insights from the industry leaders, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and marketing executives.
Data Triangulation
After arriving at the overall market size using the market size estimation processes explained above, the market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both, demand and supply side.
Report Objectives
- To determine and forecast the IoT in smart cities market based on solutions, services, applications, and regions from 2018 to 2023, and analyze various macroeconomic and microeconomic factors that affect the growth of the market
- To forecast the size of the market segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA)
- To provide detailed information about the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the IoT in smart cities market
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall IoT in smart cities market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the IoT in smart cities market
- To profile the key market players, provide their comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials, and illustrate the competitive landscape of the market
- To track and analyze competitive developments, such as partnerships, agreements, and collaborations; new product launches and product enhancements, and Research and Development (R&D) activities in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:Regional Analysis
- Further breakdown of the US market by type
- Further breakdown of the UK market by type
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
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Growth opportunities and latent adjacency in IoT in Smart Cities Market