Global IoT in Smart Cities Market Is Anticipated To Reach Around USD 330.1 Billion By 2025

Zion Market Research has published a new report titled “IoT in Smart Cities Market by Component (Solution and Service), by Application (Lighting, Traffic, Utilities, Public Safety, Environmental Monitoring, and Others), and by End-User (Information and Technology, Telecommunication, Government, Automation, Energy, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global IoT in smart cities market was valued at around USD 79.3 billion in 2018 and is expected to reach approximately USD 330.1 billion by 2025, at a CAGR of slightly above 22.6% between 2019 and 2025.

The worldwide development of smart cities is trending majorly. Smart cities are formed by the integration of advanced technologies, such as geospatial technology, blockchain, Internet of Things (IoT), and artificial intelligence, among others. Internet of Things (IoT) holds prime importance as compared to other IT technologies. In smart cities, IoT provides the perfect platform for uninterrupted communication of data that is generated from smart electronic devices.

Browse the full “IoT in Smart Cities Market by Component (Solution and Service), by Application (Lighting, Traffic, Utilities, Public Safety, Environmental Monitoring, and Others), and by End-User (Information and Technology, Telecommunication, Government, Automation, Energy, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/iot-in-smart-cities-market

According to a study, by 2050, more than 70% of the global population is anticipated to live in cities. This instantaneous urge of urbanization is constraining the existing infrastructure and has resulted in the rapid development of smart cities. To cope up with the rapidly emerging demand for smart cities, the worldwide adoption of IoT solutions is trending for communication enhancement, cost reduction, and advancement of services. Moreover, the rising number of smart connected devices is expected to create new growth opportunities for the IoT in smart cities market in the upcoming years. The worldwide smart city spending accounted for nearly USD 14.85 billion in 2015. However, the security and privacy issues related to IoT may hinder the IoT in smart cities market growth globally. IoT solutions are highly preferred for accurate communication and management of data generated from connected devices in smart cities.

The global IoT in smart cities market is segmented on the basis of component, application, and end-user. 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. Public safety is expected to grow remarkably over the forecast timeframe. By end-user, the market includes information and technology, telecommunication, government, automation, energy, and others. The information and technology segment is projected to dominate the market in the future.

By region, North America is anticipated to dominate the global IoT in smart cities market in the future, owing to the significant presence of leading market players, strict government regulations, various technological advancements, and huge investments made for technological adoption. The European IoT in smart cities market is mainly driven by the early adoption of innovative technologies. The European Union is taking substantial initiatives in smart city development for improvisation of urban lifestyle, which has concurrently escalated the market demand for IoT solutions.

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
• The Middle East and Africa

About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com