Global IoT in Smart Cities Market By Technology (Wi-Fi, Satellite, others), By Solution (Remote Monitoring, Security, Others), By Application (Smart Transportation, Smart Building, others), By Region–Forecast & Opportunities to 2026
Report Description
The IOT in smart cities market accounted for a value of USD 90.7 billion globally in 2019. It projected to grow at CAGR of 17.1% over the forecast period.
However, Covid19 has affected the business adversely across the globe. Due to covid19 physical assistance has become a major issue as the doctors who are treating other patients are getting infected despite proper care. The Philippines Medical Association has reported the death of 9 doctors from the COVID-19. Similarly, the Italian Doctors Association has reported death of 50 doctors from COVID-19. By looking this numbers we can clearly say that encouraging tele health has become very important.
IOT hardware is mostly supplied by china but major countries have stopped the supply due to fear of covid19 spread. This sector is expected experience a hit due to COVID19. Since many countries are seeking supply of IOT hardware from other countries than china because of which the prices are increasing. There will be 15-20% increase in the price of IOT hardware.
Definition
Smart city can be defined as an urban area which utilizes various existing technologies, Electronics, IOT, sensors to gain data and this data is further use to manage services, resources and assets in an efficient manner. The data can also be used to improve city’s operation. The data can be collected from citizens, buildings and devices which is then utilized monitor and manage various segments of a city such as traffic and transportation systems, power plants, utilities, water supply networks, waste, crime detection, information systems, libraries, hospitals etc.
Market Dynamics (Drivers/Opportunities):
Since the Urbanization has been increasing rapidly along with the concept of Smart cities IoT is a very vital technology for building smart city. Governments from multiple countries are initiating various smart cities initiatives to offer technological advancement to their citizens. IOT deployment in smart city projects requires efforts from multiple stakeholders, such as telecom operators, infrastructure providers, service providers, manufacturers, public sectors, and user groups.
Government authorities are mostly encouraging PPP (public-private partnership) for the promotion of smart cities. PPP is a way through which Private sectors can participate in a government projects. It gives both sectors a great opportunity.
There is a growing demand for technologies through which we can get real time market analysis create many great opportunities for IOT in smart City Market. Government’s new projects and regulation towards technological advancement is also creating opportunities for this sector
Market Insights, by Technology
On the basis of technology the market is divided into Wi-Fi, cellular network, Satellite and RFI. The cellular network is expected to register growth at highest CAGR during the forecast period. Emergence of 5G network is major driver for this sector. Because of 5G many people are opting of IoT services as huge improvements efficiency of services are expected. Government is also encouraging implements of many devices which is also driving the market.
Market Insights, by Solution
Based on solution the market is segmented into remote monitoring, real-time location system, network management, security, data management and reporting & analytics. The reporting & analytics segment is projected to grow at a highest CAGR during forecast period. With the help of report & analytics the organization can exploit the data, better understands the interactions, better representation through dashboards & reports and to harness the power of geospatial dimensions. Thus, it is very important solution for data based decisions.
Market Insights, by Application
On the basis of application, the smart transportation market is expected to register growth at highest CAGR during the forecast period. The integration of ICT with existing infrastructure of transportation and delivering real-time update about weather, traffic and passenger is smart transportation. IoT has wide application and transportation and its demand among people is also very high. The investment in this sector is increasing and investors are focusing on bringing new technologies. This is major driver of smart transportation.
Regional Insights
North America is expected to dominate the market by holding the largest market share. In North America the number of smart city projects are growing and the donations from the U.S. government is also increasing. This region is expected to dominate the IoT in smart cities market from 2020 to 2026.
Asia-Pacific is one of the fast growing regions in this sector. It is expected to mark a potential over the forecast period. Other than Asia-Pacific, Middle East & Africa is also expected to mark a potential growth opportunities because of large-scale infrastructure development is taking place and number of Smart city projects are also increasing.
Key Companies & Market Share Insights
Many key players are implementing different strategies in this sector so that they can win over their competitors. They are focusing more on expanding this sector. There are many merger and acquisition taking place so that some companies can strengthen their market presence
Key player of this industry are Huawei, Cisco, Tech Mahindra, IBM, PTC, Microsoft, Bosch, Siemens, Honeywell, ARM, Quantela, Hitachi, SAP, Youon
Segments Covered in the Report
This report forecasts The IOT in smart cities Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the IOT in smart cities market report on the basis of type, Vehicle type, and Technology:
IoT in Smart cities Market Size & Forecast (2017-2026)
- Research Framework
- Market Definition and Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Primary & Secondary Sources
- Quantitative Research
- Primary & Secondary Sources
- Breakdown of Primary Research Respondents, By Region
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumption for the Study
- Market Breakdown & Data Triangulation
- Qualitative Research
- Executive Summary
- Market Snapshot
- Industry Insights
- Industry ecosystem analysis
- Value Chain Analysis
- Industry impact and forces
- Growth Drivers
- Challenges &Restraints
- Opportunities
- Disruptive Technological Analysis
- Regulatory framework
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- Growth potential analysis, 2019
- Porter’s Five forces analysis
- Pricing Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- Industry ecosystem analysis
- COVID – Impact Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- IoT in Smart cities Market, By Technology, Market Size & Forecast To 2026
(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)
- Introduction
- Wi-FI
- Cellular Network
- Satellite
- Radio Frequency Identification
- IoT in Smart cities Market, By Solution, Market Size & Forecast To 2026
(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)
- Introduction
- Remote Monitoring
- Real-Time Location System
- Network Management
- Security
- Data Management
- Reporting & Analytics
- IoT in Smart cities Market, By Application, Market Size & Forecast To 2026
(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)
- Introduction
- Smart Transportation
- Smart Building
- Smart Utilities
- Smart Citizens Services
- Education
- Healthcare
- Public Safety
- IoT in Smart cities Market, By Region, Market Size & Forecast To 2026
(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)
- Introduction
- North America Market Size & Forecast To 2026
- Market Overview
- COVID-19 Impact
- By Technology
- By Solution
- By Application
- BY Country
- USA
- By Application
- Canada
- Mexico
- USA
- South America Market Size & Forecast To 2026
- Market Overview
- COVID-19 Impact
- By Technology
- By Solution
- By Application
- By Country
- Brazil
- By Application
- Argentina
- Chile
- Rest of South America
- Brazil
- Europe Market Size & Forecast To 2026
- Market Overview
- COVID-19 Impact
- By Technology
- By Solution
- By Application
- By Country
- UK
- By Application
- Germany
- France
- Italy
- Rest of Europe
- UK
- APAC Market Size & Forecast To 2026
- Market Overview
- COVID-19 Impact
- By Technology
- By Solution
- By Application
- By Country
- China
- By Application
- India
- Japan
- South Korea
- Australia
- Rest of APAC
- China
- Middle East & Africa Market Size & Forecast To 2026
- Market Overview
- COVID-19 Impact
- By Technology
- By Solution
- By Application
- By Country
- Saudi Arabia
- By Application
- UAE
- Qatar
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Saudi Arabia
- Competitive Landscaping
- Competitive Benchmarking
- Market Share Analysis, 2019
- Global Presence and Growth Strategies
- Mergers & Acquisitions
- New Product Launches
- Investments Trends
- R&D Initiatives
- Competitive Benchmarking
- Company Profile
- Intel
- Company Overview
- Financial Overview
- Product Portfolio
- Recent Developments
- SWOT Analysis
- Strategic Outlook
- Huawei
- Cisco
- Tech Mahindra
- IBM
- PTC
- Microsoft
- Bosch
- Siemens
- Honeywell
- ARM
- Quantela
- Hitachi
- SAP
- Youon
- Intel
- Appendix
- Interrelated Market
Research Methodology
The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.
To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.
The secondary research source that are typically referred to include, but are not limited to:
- Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
- Internal and external proprietary databases, relevant patent and regulatory databases
- National government documents, statistical databases and market reports
- News articles, press releases and web-casts specific to the companies operating in the market
The source for secondary research includes but is not limited to Factiva, Hoovers and Statista
We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:
- It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
- Helps in validating and strengthening the secondary research findings
- Further develops the analysis team’s expertise and market understanding
- Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies
The participants who typically take part in such a process include, but are not limited to:
- Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
- Purchasing managers, technical personnel, distributors and resellers
- Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
- Key opinion leaders specializing in different areas corresponding to different industry end users
Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:
- Demographic data: Population split by segment
- Macro-economic indicators: GDP, etc.
- Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.
Data is then cross checked by the expert panel.
1.4.1 Company Share Analysis Model
Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:
1.4.2 Revenue Based Modeling
Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.
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