A 'smart city' is an urban region that is highly advanced in terms of overall infrastructure, sustainable real estate, communications and market viability. It is a city where information technology is the principal infrastructure and the basis for providing essential services to residents. The concept of a "smart city" is becoming more and more prevalent, with cities recognizing that analytics and business intelligence can be integral to running a municipality more efficiently.
MARKET SCOPE
The "Global IoT in Smart Cities Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the IoT in smart cities market with detailed market segmentation by technology, component, application, and geography. The report provides key statistics on the market status of the leading IoT in smart cities market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? Based on technology, the global IoT in smart cities market is segmented into bluetooth, cellular network, RFID, and others.
? On the basis of component, the market is segmented into solution and services.
? Based on application, the market is segmented into infrastructure management, transportation, energy management, building automation, and others.
MARKET DYNAMICS
Drivers:
? Growing implementation of IoT technology will boost the growth of the IoT in smart cities market.
? Increasing government initiatives in smart cities projects is driving the growth of the market.
Restraints:
? Huge initial investment is hindering the growth of the IoT in smart cities market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The IoT in smart cities market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the IoT in smart cities market in these regions.
IMPACT OF COVID-19 ON IOT IN SMART CITIES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the IoT in smart cities market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from IoT in smart cities market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the IoT in smart cities market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
? Cisco Systems
? Honeywell International Inc.
? Huawei Technologies Co., Ltd.
? IBM Corporation
? Intel Corporation
? Microsoft Corporation
? SAP SE
? SAS Insitute, Inc.
? Schneider Electric
? Siemens AG