The Europe Smart City Platforms Market would witness market growth of 13.8% CAGR during the forecast period (2021-2027).
The smart city platform market would be fuelled by the constant developments in technology across healthcare, energy, transport, governance, and intelligence analytics sectors. In addition, the wide-scale and increasing implementation of technologies like the Internet of Things (IoT), cognitive computing, cloud computing, big data analytics, and open data would unlock bright growth prospects for the overall smart city platforms market.
Additionally, the successful implementation of smart cities projects is supported by the rise in the adoption of various Public-Private Partnership (PPP) models like BOT, OBM, BOM, and BOO. Further, the growth of the market would be boosted by the supportive steps of governments towards smart cities projects.
Sustained development leads to an increase in investment for smart city platforms. The concept of a smart city platform allows connecting the incorporation of urban services and the development of technology that will allow cities to become smart by capturing and leveraging data to expedite better decisions. In the domain of civil infrastructure, smart city platforms are a component of a wider transformation that is further accelerated by the Internet of Things (IoT) solutions and associated technologies.
Recently, the Government of Germany decided to put heavy investments in Smart City Model projects. The investment is part of the country’s vision to expedite urban digital transformation in Germany. With this investment, the German Federal Government is aiming to help municipalities to digitalize the urban cities by significantly investing in integrated smart city strategies and their implementation. Moreover, Dijon is slowly transforming to become the leading smart city in France.
The Germany market dominated the Europe Smart City Platforms Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $15.86 billion by 2027. The UK market is poised to grow at a CAGR of 13% during (2021 - 2027). Additionally, The France market would showcase a CAGR of 14.6% during (2021 - 2027).
Based on the Offering, the Smart City Platforms Market is segregated into Platforms (Connectivity Management Platform, Integration Platform, Device Management Platform, Security Platform, and Data Management Platform) and Services (Integration & Deployment, Advisory Consulting, and Support Maintenance). Based on the Delivery Model, the Smart City Platform Market is divided into hybrid, offshore, and onshore. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart City Platforms Market Size will Hit $248.60 billion by 2027, at a CAGR of 14.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Schneider Electric SE, Siemens AG, Microsoft Corporation, Amazon.com, Inc., Intel Corporation, Hitachi, Ltd., NEC Corporation, and Huawei Technologies Co., Ltd.
By Offering
By Delivery Model
By Country
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