Smart City Platform Market - Growth, Trends, and Forecast (2020 - 2025)

NEW YORK, April 9, 2020 /PRNewswire/ --The smart city platform market is expected to register a CAGR of 49.1% in the forecast period. A smart city is a system of systems. These systems can include various facilities like building automation systems, smart transportation systems, smart lighting systems, security and control systems, intelligent grids, renewable power, water treatment, and supply, etc.


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- Smart cities are growing globally, due to urbanization, which is enabling the growth. According to projections by the United Nations, in India, 404 million, China, 292 million, and Nigeria, 212 million, urban dwellers are expected to be added to the existing populations by 2050.
- The government initiatives and spending are also giving much more importance to platform providers as compared to standalone smart solutions because of scalability and integration of other smart solutions. According to Consumer Technology Association, smart city spending on the global scale is expected to reach USD 34.35 billion.
- National governments aiding the expansion of smart city projects is also a key trend in the market. With the help of the Smart Cities and Communities European Innovation Partnership (EIP SCC), supported by the European Commission, 78 cities in the region have undertaken smart city development. EIP-SCC aims to have 300 smart cities by 2019.
- However, the high costs involved in deploying the smart city platform is expected to hinder the adoption rates. Also, the inefficient utilization of resources in developing nations is hindering the market growth.

Key Market Trends
Smart Governance to be the Major Application Area

- Smart governance is one of the characteristics of smart cities. Smart city platform increases the efficiency of government programs and helps them reach its beneficiaries. Some smart cities are trying to put technology to use to engage their citizens is through eGovernment initiatives, which serve to improve public sector efficiency and streamline government systems to support sustainable development.
- eGovernment uses online, one-step gateways for citizens to access primary government services quickly and easily. An example would be a local government keeping records of life events – births, marriages, deaths – in the cloud, rather than in paper files, for easy access for both government officials and employees.
- Huawei e-Government is an integral platform for government networks, cloud, collaborative offices, multi-dimensional security, and operational efficiency. In India, Cisco has implemented solutions in areas, such as Wi-Fi, remote e-governance, and citizen kiosks, coupled with Cisco Kinetic for Cities and analytics solutions at City Command and Control Centre (C-4).
- Based on the Horizon Digital Platform, Huawei Technologies Co. Ltd announced the launch of the "HiCity" Intelligent City Solution that optimizes the integration of the data and a variety of ICT technologies to streamline service processes and transfer information flows, reducing the threshold for the use of new technologies and makes integration easier. Together with ecosystem partners, the company aims to better support the governance and innovation of smart cities.

North America Expected to Dominate the Market

- Increasing internet penetration plays a crucial role in establishing smart city platforms, as they enable IoT connections that act as a base for smart city platforms. The first line of South Korean telecom provider KT's innovative technology, 'GiGa Wire', was installed in the United States. It provides internet speed of up to 1 Gbps without any fiber-optic cable. This initiative is in line with the Boston Digital Equity Project, which is aimed to improve network infrastructure.
- Furthermore, the region has a strong foothold of vendors, which contributes to the growth of the market studied. Some of these vendors include Microsoft Corporation, Cisco Systems Inc., GE Current, and IBM Corporation, among others.
- In April 2019, Carbyne announced that it is working with Cisco Systems Inc. to provide cloud-based and IoT-enabled solutions for emergency dispatch centers. As a Cisco Solution Partner, Carbyne's next-generation emergency services technology may be delivered as an integrated part of Cisco Kinetic for Cities, a secure IoT data platform that offers automated data sharing across community infrastructure, smart city solutions, applications, and connected devices. Cisco Kinetic for Cities aims to enhance operational effectiveness, promote flexibility, create opportunities, and reduce the risk for ongoing smart city projects.
- In March 2020, Infosys announced its partnership with Qualcomm to offer smart cities solutions through the latter's accelerator program. The program connects cities, municipalities, state-run agencies, and enterprise with Qualcomm Technologies' ecosystem to help deliver efficiencies, cost savings, and access to solutions for smart cities' problems.

Competitive Landscape
The smart city platform market is moderately fragmented with many companies providing such platforms across the globe. The market players are consistently evolving and innovating the solutions provided by them to attract the majority of the market share globally. Companies are spending huge sums of money on R&D to innovate new solutions by integrating different technologies, making it a highly competitive market. Some companies such as Huawei is expected to experience negative impact in the market owing to US government initiated actions and as a result supply chain companies cutting the support to it.

- November 2019 - Nokia together with a multidisciplinary group of companies and research groups extended its 5G smart pole project (LuxTurrim5G). Through a two-year period, investment of EUR 26 million, and intensive co-development effort, the group of 26 partners plan to target the global smart city markets that are worth tens of billions euros.
- November 2019 - Microsoft announced several new features in Azure to accelerate the development and success of smart city solutions. Majority of the updates involve Azure Maps. For instance, the cloud solution now uses weather services to give cities an easy way to integrate real-time weather data into their applications. It also integrates with mobility-as-a-service company, Moovit, and visual assistance app Aira to make public transport more accessible to blind or low-vision users.

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