Smart Cities Market

Cisco Systems (US), IBM (US) are Leading Players in the Smart Cities Market

A smart city refers to a city that efficiently deploys its Information and Communications Technology (ICT) infrastructure to improve the quality of life, along with augmented efficiency in urban operations and services, thereby ensuring that the needs of present and future generations for economic, social, and environmental aspects are met. An existing city can be considered smart only if it adheres to the following components: smart transportation, smart buildings, smart utilities, and smart citizen services. MarketsandMarkets forecasts the smart cities market size to grow from USD 410.8 billion in 2020 to USD 820.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period.

In the smart cities market, the key and emerging market players include Cisco Systems (US), IBM (US), Siemens AG (Germany), Microsoft (US), Hitachi (Japan), Schneider Electric (France), Huawei (China), Intel, (US), NEC (Japan), GE (US), Fujitsu (Japan), Oracle (US), SAP SE (Germany), Ericsson (Sweden), ABB (Switzerland), Honeywell (US), Google(US), AWS(US), AT&T(US), Nokia(Finland), Vodafone (UK), Itron (US), Verizon (US), Accenture(Ireland), TCS (India), and Alibaba (China)

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Strong dominance in the market: Siemens is one of the leading companies providing smart cities solutions. The company uses its automation and digitalization expertise in IoT in the smart cities market.  Wide range of product offerings: Siemens offers cutting-edge, smart data-driven services to its customers to provide unrivaled value-added benefits. Its offerings include rail vehicles, rail automation, road traffic management systems, and smart parking and tolling systems. Smart and intelligent mobility solutions increase the availability of infrastructure, optimize throughput, and ensure a superior passenger experience. The company’s mobility division addresses the ever-increasing need of the transportation industry using state-of-the-art, interconnected, and IT-based mobility solutions.

In March 2020, Siemens and NEC partnered for digital manufacturing. The partnership is aimed to provide AI monitoring and analysis solution to accelerate digitization in manufacturing through MindSphere, the cloud-based, open Internet of Things (IoT) operating system from Siemens, and NEC’s System Invariant Analysis Technology (SIAT).

Cisco has a strong foothold in the market where it has major stakes in various smart city projects, globally. The company provides specifically designed smart and connected solution portfolios to various smart city projects. The company believes in offering innovative solutions to its clients. Thus, it has invested huge amounts in R&D activities. Cisco Connected Communities Infrastructure for cities offers validated network designs that create multiservice networks, specifically designed for smart cities and roadways. Cisco Smart+Connected City Lighting transforms LED light fixtures into sensor-equipped smart devices that can capture and transmit data in near real time. Cisco Smart+Connected City Parking provides intelligent parking services that address a city’s parking issues through technology, such as public Wi-Fi networks, video cameras, video analytics, and sensor-enabled parking management. Cisco Kinetic for Cities Urban Mobility provides real-time, configurable vehicle counts, and vehicle classification while producing a wide range of traffic density information. February 2020, Cisco and Connexin collaborated with Quantela for growth of smart cities in UK. Sheffield’s highway network adopted the UK’s latest IoT-based smart city technology. This solution is built on the CityOS platform, bringing together the best of breed capabilities from Cisco Kinetic and Atlantis smart city solutions from Quantela.

Related Reports:

Smart Cities Market by Smart Transportation (Type, Solutions and Services), Smart Buildings (Type, Solutions and Services), Smart Utilities (Public Safety, Smart Healthcare, Smart Education, Smart Street Lighting, e-Governance), Smart Citizen Services, and Region - Global Forecast to 2025

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Report Code
TC 3071
RI Published ON
9/9/2020
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