Smart City Platforms Market

Key players adopted various strategies to grow in the global Smart City Platforms Market

A smart city platform can be defined as a universal platform which accommodates various interconnected city-centric smart solutions addressing a range of city challenges, such as transportation, public safety, utilities, and environmental issues. Smart city platform provides integration, security, and connectivity platform with data and device management to smart city solutions. Data gathered from different smart solutions deployed in the city is processed, analyzed, and used as input to another solution for improving the operational efficiency of the city. MarketsandMarkets forecasts the smart city platforms market size to grow from USD 104.6 billion in 2018 to USD 223.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period.

In the smart city platforms market, the key and emerging market players include Cisco (US), IBM (US), Microsoft (US), Hitachi (Japan), Siemens (Germany), Schneider Electric (France), Huawei (China), Intel (US), GE (US), AT&T (US), Oracle (US), Ericsson (Sweden), Nokia (Finland), Itron (US), Verizon (US), Honeywell (US), SAP (Germany). These players have adopted various strategies to grow in the global smart city platforms market.

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Cisco has major stakes in various global smart city projects. The company supports these projects with the help of its specifically designed platform named Cisco Kinetic. The solutions offered under Cisco Kinetic assist city leaders in addressing urban challenges, such as traffic congestions, overcrowding, pollution, resource constraints, and inadequate infrastructure, by utilizing the company’s intelligent networking capabilities. In September 2018, Cisco 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.

Hitachi offers various products and solutions under its smart city platform Hitachi Vantara. Its smart city solutions include information control, smart grid, energy management, community energy management, intelligent water, and smart mobility solutions. Its smart building solutions consist of escalators, operations management systems, elevators, and air conditioning systems that are all connected through an Internet of Things (IoT) platform. In September 2018, Hitachi partnered with Colorado Smart Cities Alliance to develop smart city solutions for the Colorado city. Colorado Smart Cities Alliance is a coalition of Colorado municipalities, federally funded research labs, educational institutions, and leading private sector technology companies.

Related Reports:

Smart City Platforms Market by Platform Type (Connectivity Management Platform, Integration Platform, Device Management Platform, Security Platform, and Data Management Platform), Service, Delivery Model, and Region - Global Forecast to 2023

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Report Code
TC 6918
Published ON
Feb, 2019
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