Internet of Things (IoT) Market for Smart Cities.

A fully integrated modular and scalable

Internet of things framework can help cities make the most of the digital opportunities to
efficiently deliver and manage smart city services. This facilitates operators and master
systems integrators (MSI’s) to take advantage of unified smart city management, while
unravelling new revenue streams by rapidly launching new smart city services addressing the
city needs. The ‘fully integrated’ approach fulfils the vital requirement of a connected
landscape that is shared, secure and scalable - where every ‘thing’ can talk to each other to
make tomorrow’s cities smart, safe and sustainable.
Development of technology has augmented the use of Internet of Things (IoT) making
the smart city concept implementable. The smart city market can be observed through various
lenses, however, through all of them, fragmentation is done such as traffic congestion
management, water supply management, smart street lighting, smart bin collection and many
more. In smart parking, the whole point of introducing the concept of parking was to reduce
congestion, however, the business case was unclear with most of the cities. However today,
IoT has introduced significant number of advances that will not only help save costs, but also
encourage citizens to change their behaviour to make these places an enjoyable visit. E.g.
Smart Street lighting is an application gained fame based on its concept that light intensifies
depending on the crowd present on road. Also, traffic Congestion application in monitoring of
vehicles and pedestrian levels is done to optimize driving and walking routes. For waste
Management detection of rubbish levels in containers is done to optimize the trash collection
routes and make work more efficient.

Maximize Market Research carried the research for market size of The Internet of
Things (IoT) in smart cities which is estimated to grow from USD 51.96 Billion in 2015 to USD
339.72 Billion by 2024, at an estimated Compound Annual Growth Rate (CAGR) of 23.2%
during the forecast period. The main reason behind the growth of smart cities is the need for
effective solution for managing the cities. Driving factors responsible for this market include
increasing demand for intelligent cities, connected devices and also the rising demand for
Internet of Things (IoT) devices. But the explosive growth of Smart City and Internet of Things
applications creates many scientific and engineering challenges that call for ingenious
research efforts from both academia and industry, especially for the development of efficient,
scalable, and reliable Smart City based on IoT. New protocols, architectures, and services are
in dire needs to respond for these challenges.

Global IOT Smart Cities Market Forecast

2016-2024
400
300
200
100
0
2016 2017 2018 2019 2020 2021 2022 2023 2024
YEAR

Maximize Market Research has carried out extensive research about the current
Global IoT Market for Smart Cities outlook as well as the assuring future of the technology
in the sector. It has also taken a complete overview of Internet of Things (IoT) ecosystem
involving its application in innumerable domains e.g. Healthcare, Public Services, Media and
Entertainment, Manufacturing, Smart Cities, Home Automation , Education and many others,
thus, providing a comprehensive research data Research report comprehensively analyses
all possible industry elements with reference to the utility of IoT. It evaluates all the major
global regions based on their economic standings and position in the Global Automotive arena.
Further it gives a studied commentary over the growth prospects of IoT in coming years and
attitude of each industry towards these changes.

Internet of Things for Smart

Cities

Solution Service Platform Technology Application Geography

Location Satellite Transport

System Application North
Analytics Network ation
Integration Management America
Platform
Cellular Infrastructure
Network Others Device Network Europe
Analytics Management
Platform Building
Radio
Automatio
Real Time Frequency
n APAC
Streaming Identification
Connectivity
Management Near Field Energy
Remote Platform Communicati Managemen
Monitoring on t LAMEA

Data Intelligent
Management Wi-Fi City Services
Copyright Maximize Market Research

Importantly, the report delivers forecasts of the market, giving an insight into the future
opportunities that exist in the Global IoT Market for Smart Cities. The driving forces as well
as considerable restraints have been explained in depth. Report segments Global IoT Market
for Smart Cities by Solution, Service, Platform, Technology, Application and and Regions,
providing the comprehensive analysis of ecosystem of industry, which will be useful to take
informed strategic decision to the stakeholders in the industry. Further, based on the
applications report segments the market Transportation, Infrastructure Management, Building
Automation, Energy Management, Intelligent Cities Services, Emergency and Incident
Management.

North America is expected to hold the largest market share and dominate the IoT smart
cities market in forecast years. The market size in North America is expected to decrease
slightly during the forecast period as most of the IoT in smart cities projects funded by
American Recovery and Reinvestment Act (ARRA) 2009 for investor-owned larger energy and
utilities in the U.S. are expected to reach completion by early 2018. The IoT in smart cities
solutions segment is expected to have the least growth rate during the forecast period. Asia-
Pacific (APAC) is expected to have the highest growth rate during the forecast period.
However, the inadequate financial incentives for transportation, energy management, utilities,
interoperability, and security issues are a few pivotal factors hindering the growth of the IoT in
smart cities in the APAC region.

Companies such as Bosch Software Innovation, Cisco Systems Inc., Huawei Technologies,
IBM Corporation, Intel Corporation., Schneider Electric, SAP SE, Symantec Corporation,
ThingWorx, and Verizon Communications are the key players exploring and expanding the
scope and reach of IoT Platform Market. Smart Cities and Internet of Things (IoT) are on their
way to transform modern life. The overall demand for smart homes is forecasted to grow
rapidly, owing to strong consumer interest, incremental technological innovations, and greater
accessibility. The impact of IoT is so comprehensive because at its core, IoT is about
measuring and remotely controlling previously unconnected “things”. It reaches people and
objects that older technology could not. From farming to space technology and from routine
health check-up to providing information about ozone content in the atmosphere IoT has
engulfed each and every aspect of human activity and has become a stellar backbone in a
journey towards a ‘Smart Society’ .

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Teradata today announced it is working with Cisco on a digital transformation

solution with a focus on smart cities and communities. Combining the merits of
Cisco’s IoT platform, Cisco Kinetic for Cities, with the Teradata Analytics
Platform, the solution will help cities become smarter and more connected by
providing a powerful solution for integrated data exchange. The Cisco Kinetic
for Cities platform excels at collecting, aggregating and normalizing real-time
data securely across city networks.

Teradata is among the first enterprise data analytics companies to integrate

with this platform to provide smart data management, such as analytics,
persistent data lifecycle management and data enrichment, that delivers
business insights to cities and communities. Together, the two leaders in their
respective fields provide powerful tools that cities need to improve efficiency,
enhance public safety, deliver better citizen services and create new revenue
streams.