Smart City Platforms Market

MarketsandMarkets forecasts the global smart city platforms market size to grow from USD 191.6 billion in 2023 to USD 292.1 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period. Major factors expected to drive the growth of the smart city platforms market include need of automation in network architecture, growing need for efficient connectivity network to handle increasing, and growing number of devices on network.

Top Smart City Platforms Companies include

• Siemens (Germany)
• IBM (US)
• Huawei (China)
• Hitachi (Japan)
• Microsoft (US) and many more....

Major players in smart city platforms include tech giants like Siemens, Cisco, and IBM. These companies offer platforms that integrate data, applications, and devices to improve efficiency, sustainability, and quality of life in cities. There are also niche players focusing on specific aspects of smart cities, like Enevo for waste management and Clarity Movement for air quality.

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IBM is one of the leading vendors that provide smart city platform solutions. The company has a wide product portfolio for smart city platforms and and related solutions. The R&D investments of the company are applied generally to all product areas, with specific areas of focus being identified regularly. The company’s recent areas of increased focus include smart infrstructure solutions, AI and hybrid cloud capalities along with IoT. The company also focuses on acquisitions and partnerships to achieve business growth and increase in smart city platforms category. In the year 2022, the company acquired Dialexa and Databand.ai to improve its product portfolio.

Siemens provides smart enterprise and smart city platform solutions that transform the experience of users with resilient, intelligence, and automation powered by Artificial Intelligence (AI) and Machine Learning (ML). The company also focuses on launching smart city platform products regularly. Siemens has entered into strategic acquisitions and partnerships with strong players, which would help it to expand its product portfolio and distribution networks in several markets. Siemens has emerged as a key player for smart city platform services and solutions. In addition, Siemens has global operations and earns its revenue from multiple regions, including within India and outside India regions. The company also focuses on acquisitions and partnerships to achieve business growth and increase in smart city platform across key industries, including education, healthcare, public infrastructure, and manufacturing. For instance, siemens acquired Brightly Software in August 2022, enabling Siemens to establish cloud-based and fully automate the complexities of operations. In the year 2021, the company collaborated with Telefónica Tech  to provide improved performance and sustainability for built infrastructure.

Huawei Technologies Co., Ltd., founded in 1987 by Ren Zhengfei, is a leading global provider of information and communications technology (ICT) infrastructure and smart devices, headquartered in Shenzhen, China. The company is known for its comprehensive product and service offerings, including telecommunications equipment, consumer electronics, and enterprise solutions. Huawei is a significant player in the development of 5G technology and has a substantial presence in the global smartphone market. Despite facing challenges due to geopolitical tensions and trade restrictions, Huawei continues to innovate and expand its technological capabilities across various domains, including cloud computing and artificial intelligence.

Hitachi, Ltd., established in 1910 by Namihei Odaira, is a diversified multinational conglomerate based in Tokyo, Japan. The company operates across various sectors, including information technology, energy, infrastructure, industrial systems, and healthcare. Hitachi is known for its advanced technology solutions and has been instrumental in developing and implementing innovative products and services, such as data storage systems, railway systems, and social infrastructure solutions. With a strong focus on digital transformation, Hitachi leverages its expertise in big data analytics, IoT, and artificial intelligence to drive sustainable growth and address global challenges.

Microsoft Corporation, founded by Bill Gates and Paul Allen in 1975, is a leading technology company headquartered in Redmond, Washington. Microsoft is renowned for its software products, particularly the Windows operating system and Microsoft Office suite. The company has successfully expanded into cloud computing with Azure, one of the largest cloud service platforms globally. Additionally, Microsoft offers a wide range of consumer and enterprise services, including LinkedIn, GitHub, and Xbox. Under the leadership of CEO Satya Nadella, Microsoft has focused on innovation in areas such as artificial intelligence, mixed reality, and productivity solutions, maintaining its position as a dominant force in the technology industry.

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Smart City Platforms Market by Offering (Platforms (Connectivity Management, Integration, Device Management) and Services), Delivery Model (Offshore, Hybrid, On-site), Application (Smart Transportation and Public Safety) and Region - Global Forecast to 2028