The China smart cities market is projected to reach USD 59.9 billion by 2023 from USD 30.4 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period. The market growth is largely driven by factors, such as increase in population, need for rapid urbanization, and governments’ investment and several policies to speed up the successful implementation and development of smart cities projects.
The major vendors in this market include Advantech (China), Kontron (Germany), CRRC (China), Hollysys (China), Nari Technology (China), China Railway Electrification Engineering Group (China), Hikvision (China), Dahua Technology (China), and Seavo Technology (China). The major players widely adopted strategies, such as new product launches, partnerships, and mergers and acquisitions, from 2016 to 2018. They also adopted other strategies, such as collaborations, product enhancements, and new product developments, to expand their presence in the smart cities market in China. This helped them expand their consumer base and address the unmet needs of end users.
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Advantech is one of the prominent players in the smart cities market in China. The company provides web-based system integration hardware and software, along with technical support, repair, and configuration and design services to its global customers. It caters to customers belonging to energy, environmental, gaming, medical, semiconductor, telecommunications, and transportation industries worldwide. The company has core offerings, such as embedded computing boards, industrial automation interfaces and controllers, and applied and industrial computers. It also has a strong sales and marketing network to sell its products and services to approximately 20 countries; customers can also buy these products directly from the company's eStore and eCatalog. Asia represents Advantech's largest customer segment geographically. The company has a strong presence in the transportation and infrastructure segment, while it has a limited coverage in the video segment. The company also provides design and manufacturing services for transportation, mobile computing and retail, and the medical and gaming sections.
In July 2018, the company partnered with Tokyo Electron Device Ltd. (TED) to promote edge computing for Artificial Intelligence of Things (AIoT). Advantech and TED are together developing and promoting Internet of Things (IoT) edge computing solutions, which are linked with Microsoft Azure platform.
Kontron is another prominent player in Embedded Computing Technology (ECT). It is a subsidiary of the technology group, S&T. The company offers a combined portfolio of secure hardware, and middleware and services for IoT and Industry 4.0 applications. The company provides secure and innovative applications for different industries, along with its standard products and tailor-made solutions based on highly reliable state-of-the-art embedded technologies. As a result, customers benefit from features, such as accelerated time-to-market, reduced total cost of ownership, product longevity, and fully integrated applications overall. Kontron caters to various industries, such as transportation, medical, infotainment, energy, defense, and communication and automation. In August 2018, Kontron acquired Inocybe Technologies to boost its Network Function Virtualization (NFV) and Software-Defined Networking (SDN) offering for telcos and Cloud Service Providers (CSP’s) and to expand its IT network operator customer base to help enterprises and smart cities deploy hybrid cloud infrastructures.
China Smart Cities Market by ICT Components (Hardware, Software, Services), Segments (Smart Infrastructure, Smart Transportation, Video), Market Overview, Trends, Vendor Ecosystem Analysis, and Smart Cities Initiatives - Forecast to 2023
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