The future of IoT in the smart city market looks promising with opportunities in the smart governance, smart building and infrastructure, smart utilities, smart health, public safety, and smart transportation applications. IoT in the global smart city market is expected to reach an estimated $353.3 billion by 2026 with a CAGR of 19% from 2020 to 2026. The major drivers for this market are increasing development of smart cities, growing urbanization with increasing adoption of connected and smart technology, and demand for public safety.
Emerging trends, which have a direct impact on the dynamics of IoT in the smart city industry, include growing adoption of Artificial Intelligence in IoT applications.
A total of 86 figures / charts and 75 tables are provided in this 160-page report to help in your business decisions. Sample figures with insights are shown below. To learn the scope of benefits, companies researched, and other details of IoT in the smart city market report, please download the report brochure.
The study includes trends and forecasts for the global IoT in smart city market by application, technology, component, and region as follows:
By Application [$B shipment analysis for 2015 – 2026]:
- Smart Governance
- Smart Building and Infrastructure
- Smart Utilities
- Smart Health
- Public Safety
- Smart Transportation
By Technology [$B shipment analysis for 2015 – 2026]:
- Short Range
By Component [$B shipment analysis for 2015 – 2026]:
By Region [$B shipment analysis for 2015 – 2026]:
- North America
- Asia Pacific
- The Rest of the World
Some of the IoT smart city companies profiled in this report include IBM, Cisco, Intel, Huawei, and Microsoft.
Lucintel forecasts that short range IoT technology for smart city will remain the largest segment due increasing demand for wireless network for the development of smart infrastructure and building automation system.
Smart governance will remain the largest application and smart health is expected to witness the highest growth during the forecast period due to increasing penetration of connected devices in healthcare and rising investment in healthcare IoT solutions.
Asia Pacific will remain the largest region, and it is also expected to witness the highest growth over the forecast period, supported by growing urbanization, increasing demand for efficient infrastructure, and growing public safety concerns.
Features of IoT Market in Smart City
- Market Size Estimates: IoT in smart city market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2015-2020) and forecast (2021-2026) by various segments and regions.
- Segmentation Analysis: IoT in smart city market size by various segments, such as application, technology, and component, in terms of value.
- Regional Analysis: IoT in smart city market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different application, technology, component, and regions for IoT in smart city market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the IoT in smart city market .
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the global IoT in smart city market by application (smart governance, smart building and infrastructure, smart utilities, smart health, public safety, and smart transportation), technology (short range, LPWA, cellular, and others), component (solution and service), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges for IoT in the smart city market?
Q.5 What are the business risks and threats to the IoT in smart city market ?
Q.6 What are emerging trends in the IoT in smart city market and the reasons behind them?
Q.7 What are some changing demands of customers in the IoT in smart city market ?
Q.8 What are the new developments in the IoT in smart city market ? Which companies are leading these developments?
Q.9 Who are the major players of IoT in the smart city market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the IoT in smart city market , and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in IoT in the smart city market ?