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IoT in Smart Cities Market

IoT in Smart Cities Market - Global Industry, Analysis, Size, Share, Growth, Trends, and Forecasts 2021-2031

IoT in Smart Cities Market – Overview

The Internet of Things (IoT) corresponds to the rapidly growing use of electronic devices. These devices use an internet connection to communicate and interact with others, and they can be controlled and monitored remotely. This technology provides cities with new opportunities to use information to control pollution, regulate traffic, make better use of infrastructure, and keep citizens safe and clean. IoT has the ability to alleviate the pressures of urban development by providing a new experience for city dwellers and making daily life more convenient and secure. Smart cities will benefit from IoT in terms of access to clean air, sanitation, proper waste management, and clean water. Connected electronic communications and big data can be used to create smart cities solutions that can be used to solve problems and improve people's quality of life. The increasing inclination towards improving lifestyles of people with the help of machine learning, artificial intelligence, and big data are expected to augment the sales growth of the global IoT in Smart Cities market during the forecast period, set between 2021 and 2031.

The IoT in Smart Cities market is categorized on the basis of offering, application, and region. In terms of offering, the market is split into solutions, and services. Based on solutions, the market is grouped into network management, security, reporting and analytics, data management, real-time location system, and remote monitoring. The services segment is again divided into two parts namely managed services and professional services. Among these, the latter i.e. professional service sub-segment is again trifurcated into support & maintenance, system integration & deployment, and consulting. In terms of application, the market is classified into smart transportation, smart citizen services, smart utilities, and smart building. Among these, the smart citizen service segment is trifurcated into public safety, healthcare, and education.

The research report on IoT in Smart Cities market is based on a 360-degree overview of the market and its prime growth trajectories of the market including drivers, restraints, challenges, and future opportunities. The report also highlights the key innovations that made positive contribution to the market in terms of revenue generation. The impact of the novel COVID19 pandemic is also discussed in the report. List of the notable players and their key contributions in the form of innovations and system upgrades is also discussed in details. In order to purchase this report, log on to the company website.

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IoT in Smart Cities Market – Competitive Landscape

The nature of the global IoT in smart cities market is highly competitive on account of the presence of multiple players. Leading players of the IoT in smart cities market are investing heavily on R&D activities and the production of better products to ensure their brand position in the overall market competition. Others are keen on adopting multiple growth strategies, such as new product launches or quality control, joint ventures, and collaborations to reach for the top position in the overall market competition.

Some of the key players of the global IoT in Smart Cities market include:

  • Appyway
  • Tech Mahindra Ltd.
  • Signify Ltd.
  • Flamenco Tech
  • Enevo Inc.
  • Technology Solutions Pvt.Ltd.
  • Takadu Ltd.
  • Optibus Ltd.
  • AGT Group GmbH
  • Confidex Ltd.
  • Deutsche Telekom AG
  • SAP SE
  • Youon Technology Co. Ltd.
  • Quantela
  • Sierra Wireless
  • Schneider Electric
  • Arm Ltd.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Verizon Communications
  • Siemens AG
  • PTC
  • Robert Bosch GmbH
  • Microsoft Corporation
  • Intel Corporation
  • Huawei Technologies Co. Ltd.
  • Cisco Systems Inc.
  • Other players

IoT in Smart Cities Market – Growth Drivers

The growing adoption of smart and connected technologies is projected to serve as the key growth driver promoting the sales projections of the IoT in smart cities market. Additionally, the advent and rising popularity of data communications, cloud mobility, artificial intelligence, and other multiple technologies of the internet of things are projected to further help this market witness revenue generation opportunities for the IoT in smart cities market in the forecast period.

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IoT in Smart Cities Market – Geographical Insights

Regionwise, the market is widespread into the regions of North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Each of these regions is further categorized on the basis of nations and their key revenue collection. Among all these, Asia Pacific emerged as the largest revenue generator for the IoT in Smart Cities market on account of the high business productivity and the rising adoption of smart cities across countries such as India.

IoT in Smart Cities Market

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