IoT in Smart Cities to 2023: Global Market Analysis & Outlook by Solution, Service, Application and Region - ResearchAndMarkets.com

The "IoT
in Smart Cities Market by Solution (Remote Monitoring, Network
Management, Analytics, RTLS, Security), Service, Application (Smart
Transportation, Buildings, Utilities, Healthcare and Public Safety), and
Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's
offering.

The Internet of Things (IoT) in smart cities market is projected to grow
from USD 79.5 billion in 2018 to USD 219.6 billion by 2023, at a
Compound Annual Growth Rate (CAGR) of 22.5% from 2018 to 2023.

The major factors driving the growth of the IoT in smart cities market
are the increasing number of government initiatives and PPP models for
smart cities, improvements in the communication infrastructure that are
brought by IoT and rising adoption of connected and smart technologies
in smart cities initiatives.

However, lack of knowledge among people about IoT and huge initial
investments required for the setup are hindering the market growth.

Among solutions, the reporting and analytics segment is
expected to grow at the highest rate during the forecast period

The reporting and analytics segment is expected to be the segment with
the highest CAGR among solutions during the forecast period, owing to
the rising adoption of connected and smart technologies involved in the
implementation of IoT in smart cities solutions.

These services help in driving the productivity and efficiency of
government services, thereby enabling governments to build a
time-efficient system and make informed decisions.

The APAC region is expected to grow at the highest CAGR in
the IoT in smart cities market during the forecast period

The Asia Pacific (APAC) region is projected to have the highest CAGR
among all the regions covered, during the forecast period. This growth
is primarily driven by the favorable government initiatives taken in the
region to adopt the latest technologies and the increasing focus on
efficient government services.

There has also been an enormous growth in the number of PPP models for
smart cities in the region, leading to increase in smart city projects
in the region. Moreover, the rising adoption of connected and smart
technologies in the cities is also leading to the growth of the APAC
market for IoT in smart cities market.

Market Dynamics

Drivers

• Increasing Number of Government Initiatives and PPP Models for Smart
  Cities
• IoT to Bring Improvements to the Communication Infrastructure
• Rising Adoption of Connected and Smart Technologies in Smart Cities
  Initiatives

Restraints

• Privacy and Security Concerns Over the Use of IoT
• Lack of Advancements in Communication Technology and Poor Operational
  Efficiency in Developing Economies

Opportunities

• Increase in Smart City Initiatives Worldwide
• Increase in Connected Devices to Drive the Growth of IoT
• Emerging 5G Technology to Help IoT Adoption, Globally

Challenges

• Lack of Knowledge Among People About IoT and Smart Cities
• Huge Initial Investments Required for IoT in Smart Cities

Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Years Considered for the Study

1.4 Currency Considered

1.5 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Breakdown and Data Triangulation

2.3 Market Size Estimation

2.4 Market Forecast

2.5 Assumptions for the Study

2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in the IoT in Smart Cities Market

4.2 Market By Offering, 2018-2023

4.3 Market By Solution, 2018-2023

4.4 Market By Service, 2018-2023

4.5 Market By Application, 2018-2023

4.6 Market Investment Scenario

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.3 Industry Trends

5.4 Ecosystem Analysis

6 IoT in Smart Cities Market, By Offering

6.1 Introduction

6.2 Solutions

6.3 Services

7 IoT in Smart Cities Market, By Solution

7.1 Introduction

7.2 Remote Monitoring

7.3 Real-Time Location System

7.4 Network Management

7.5 Security

7.6 Data Management

7.7 Reporting and Analytics

8 IoT in Smart Cities Market, By Service

8.1 Introduction

8.2 Professional Services

8.3 Managed Services

9 IoT in Smart Cities Market, By Application

9.1 Introduction

9.2 Smart Transportation

9.3 Smart Building

9.4 Smart Utilities

9.5 Smart Citizen Services

10 IoT in Smart Cities Market, By Region

10.1 Introduction

10.2 North America

10.3 Europe

10.4 Asia Pacific

10.5 Middle East and Africa

10.6 Latin America

11 Competitive Landscape

11.1 Overview

11.2 Market Ranking Analysis for the IoT in Smart Cities Market

11.3 Competitive Scenario

12 Company Profiles

12.1 IBM

12.2 Cisco

12.3 Intel

12.4 Huawei

12.5 Microsoft

12.6 Tech Mahindra

12.7 Honeywell

12.8 Siemens

12.9 Bosch Software Innovations

12.10 PTC

12.11 Schneider Electric

12.12 ARM

12.13 Quantela

12.14 Sierra Wireless

12.15 Hitachi

For more information about this report visit https://www.researchandmarkets.com/research/5vg8k9/iot_in_smart?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20190211005524/en/