IoT in Smart Cities Market Trend, Share, Growth, Size, Analysis and Forecast 2030

IoT in Smart Cities Market Insights

Zion Market Research has published a report on the global IoT in Smart Cities Market, estimating its value at USD 179.28 Billion in 2023, with projections indicating that it will reach USD 967.49 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 20.6% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the IoT in Smart Cities Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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IoT in Smart Cities Market Overview

The report covers a forecast and an analysis for the IoT in smart cities market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints of the IoT in smart cities market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the IoT in smart cities on a global level.

This report offers a comprehensive analysis of the global IoT in smart cities market along with market trends, drivers, and restraints. This report includes a detailed competitive scenario and the product portfolio of the key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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IoT in Smart Cities Market: Segmentation

The global IoT in smart cities market is segmented on the basis of component, application, end-user, and region. The component segment is majorly classified into solution and services. The solution segment includes security, remote monitoring, analytics, network management, and RTLS. By application, the market is classified into lighting, traffic, utilities, public safety, environmental monitoring, and others. By end-user, the market includes information and technology, telecommunication, government, automation, energy, and others. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

IoT in Smart Cities Market: Report Scope

Some renowned key players of the global IoT in smart cities market are IBM, Intel, Cisco, Huawei, Hitachi, Quantela, Microsoft, Bosch Software Innovations, Schneider Electric, Tech Mahindra, Sierra Wireless, Siemens, Honeywell, Bosch Software Innovations, ARM, and PTC, among others.

This report segments the global IoT in smart cities market into:

IoT in Smart Cities Market: Component Analysis

• Solution
  • Security
  • Remote Monitoring
  • Analytics
  • Network Management
  • RTLS
• Services

IoT in Smart Cities Market: Application Analysis

• Lighting
• Traffic
• Utilities
• Public Safety
• Environmental Monitoring
• Others

IoT in Smart Cities Market: End-User Analysis

• Information and Technology
• Telecommunication
• Government
• Automation
• Energy
• Others

IoT in Smart Cities Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa