IoT in Smart Cities Market by Solution (Remote Monitoring, Network Management, Analytics, RTLS, Security), Service, Application (Smart Transportation, Buildings, Utilities, Healthcare and Public Safety), and Region - Global Forecast to 2023

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Date: 05-Feb-2019
No. of pages: 130
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Increasing number of government initiatives and PPP models for smart cities is expected to drive the overall growth of the IoT in smart cities market across the globe

The Internet of Things (IoT) in smart cities market is projected to grow from USD 79.5 billion in 2018 to USD 219.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.5% from 2018 to 2023.The major factors driving the growth of the IoT in smart cities market are the increasing number of government initiatives and PPP models for smart cities, improvements in the communication infrastructure that are brought by IoT and rising adoption of connected and smart technologies in smart cities initiatives. However, lack of knowledge among people about IoT and huge initial investments required for the setup are hindering the market growth.

Among solutions, the reporting and analytics segment is expected to grow at the highest rate during the forecast period

The reporting and analytics segment is expected to be the segment with the highest CAGR among solutions during the forecast period, owing to the rising adoption of connected and smart technologies involved in the implementation of IoT in smart cities solutions. These services help in driving the productivity and efficiency of government services, thereby enabling governments to build a time-efficient system and take informed decisions.

The APAC region is expected to grow at the highest CAGR in the IoT in smart cities market during the forecast period

The Asia Pacific (APAC) region is projected to have the highest CAGR among all the regions covered, during the forecast period. This growth is primarily driven by the favorable government initiatives taken in the region to adopt the latest technologies and the increasing focus on efficient government services. There has also been an enormous growth in the number of PPP models for smart cities in the region, leading to increase in smart city projects in the region. Moreover, the rising adoption of connected and smart technologies in the cities is also leading to the growth of the APAC market for IoT in smart cities market.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the IoT in smart cities market.


  • By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%

  • By Designation: C-level – 45%, Directors – 30%, and Others – 25%

  • By Region: North America – 30%,Europe– 35%, Asia Pacific– 20%,and RoW – 15%


The major vendors of IoT in smart cities solutions and services include Cisco (US), IBM (US), Intel (US), Huawei (China), Microsoft (US), Tech Mahindra (India), Honeywell (US), Siemens (Germany), Bosch Software Innovations (Germany), PTC (US), Schneider Electric (US), ARM (UK), Quantela (US), Sierra Wireless (Canada), and Hitachi (Japan). The study included an in-depth competitive analysis of these key players with their company profiles, recent developments, and key growth strategies adopted by them.

Research coverage

The market study covers the IoT in smart cities market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on offerings (solutions and services), applications, and region. In addition, the study also includes key use cases, industry trends, key influencing factors such as drivers, restraints, opportunities, and challenges. Furthermore, the study also highlights the competitive landscape and in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report

The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall IoT in smart cities market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

IoT in Smart Cities Market by Solution (Remote Monitoring, Network Management, Analytics, RTLS, Security), Service, Application (Smart Transportation, Buildings, Utilities, Healthcare and Public Safety), and Region - Global Forecast to 2023

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Market Segmentation
1.3 Years Considered for the Study
1.4 Currency Considered
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Breakup of Primary Profiles
2.1.2 Key Industry Insights
2.2 Market Breakdown and Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the IoT in Smart Cities Market
4.2 Market By Offering, 2018–2023
4.3 Market By Solution, 2018–2023
4.4 Market By Service, 2018–2023
4.5 Market By Application, 2018–2023
4.6 Market Investment Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of Government Initiatives and PPP Models for Smart Cities
5.2.1.2 IoT to Bring Improvements to the Communication Infrastructure
5.2.1.3 Rising Adoption of Connected and Smart Technologies in Smart Cities Initiatives
5.2.2 Restraints
5.2.2.1 Privacy and Security Concerns Over the Use of IoT
5.2.2.2 Lack of Advancements in Communication Technology and Poor Operational Efficiency in Developing Economies
5.2.3 Opportunities
5.2.3.1 Increase in Smart City Initiatives Worldwide
5.2.3.2 Increase in Connected Devices to Drive the Growth of IoT
5.2.3.2.1 Smart Meters
5.2.3.2.2 Smart Appliances
5.2.3.3 Emerging 5G Technology to Help IoT Adoption, Globally
5.2.4 Challenges
5.2.4.1 Lack of Knowledge Among People About IoT and Smart Cities
5.2.4.2 Huge Initial Investments Required for IoT in Smart Cities
5.3 Industry Trends
5.3.1 Use Cases
5.3.1.1 Use Case 1: Cisco: Wi-Fi Paves the Way for IoT Platform to Make the Government More Efficient
5.3.1.2 Use Case 2: IBM: Building Citizen-Focused Public Services in Jakarta
5.3.1.3 Use Case 3: Nokia: Smart Tampere Initiative for the Digital Technology Implementation
5.3.1.4 Use Case 4: Huawei: Build Smart City Network (Inspired By Nervous System) in Rivas-Vaciamadrid, Spain
5.3.1.5 Use Case 5: Compology: Startup Working on Municipal Service Management in Boston and Baltimore Cities in the US
5.4 Ecosystem Analysis
5.4.1 Smart Transportation
5.4.2 Smart Buildings
5.4.3 Smart Utilities
5.4.4 Smart Citizen Services

6 IoT in Smart Cities Market, By Offering
6.1 Introduction
6.2 Solutions
6.2.1 Rapid Digitalization to Increase the Demand for IoT Solutions
6.3 Services
6.3.1 Requirement of Highly Customized Solutions and Need to Focus on Core Operations to Drive the Market of Services Segment

7 IoT in Smart Cities Market, By Solution
7.1 Introduction
7.2 Remote Monitoring
7.2.1 Need for Monitoring Diverse Facilities to Increase the Demand for Remote Monitoring Solution
7.3 Real-Time Location System
7.3.1 MEA to Show High Growth for Real-Time Location System
7.4 Network Management
7.4.1 Demand for Network Management Solution to Be High in North America
7.5 Security
7.5.1 Cyber-Attacks on Smart Cities Infrastructure to Raise the Demand for Security Solution
7.6 Data Management
7.6.1 Need to Manage Data From Various Applications to Drive the Market of Data Management
7.7 Reporting and Analytics
7.7.1 Need to Translate Raw Data Into Useful Information Increased the Demand for Reporting and Analytics Solution

8 IoT in Smart Cities Market, By Service
8.1 Introduction
8.2 Professional Services
8.2.1 Consulting
8.2.1.1 Surge in Demand for Highly Customized IoT Services to Increase the Demand for Consulting Services
8.2.2 Deployment and System Integration
8.2.2.1 Need to Integrate With Existing Systems to Increase the Demand for Deployment and System Integration Services
8.2.3 Support and Maintenance
8.2.3.1 24/7 Troubleshooting Assistance, Software Upgrade, and Other Services to Increase the Demand for Support and Maintenance Services
8.3 Managed Services
8.3.1 Increasing Adoption of Outsourced IoT Services to Drive the Managed Services Market

9 IoT in Smart Cities Market, By Application
9.1 Introduction
9.2 Smart Transportation
9.2.1 Rapid Increase in Traffic Congestion to Create A Demand for IoT
9.3 Smart Building
9.3.1 Commercial Buildings to Rapidly Implement IoT Solutions for Optimizing Their Energy Consumption
9.4 Smart Utilities
9.4.1 Increasing Focus on Optimizing Resources With Minimal Downtime and Wastage to Increase the Demand for IoT Solutions
9.5 Smart Citizen Services
9.5.1 Education
9.5.1.1 Increasing Adoption of Mobile Devices and Tablets to Drive IoT Penetration in Education
9.5.2 Healthcare
9.5.2.1 IoT to Be Used Extensively in Medical Records Management, Remote Monitoring, Data Analytics, and Telemedicine
9.5.3 Public Safety
9.5.3.1 High Risk and Threat of Potential Damage From External Attacks and Natural Calamities to Increase the Adoption of IoT in Public Safety

10 IoT in Smart Cities Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Developing Innovation Hubs and Recent Government Acts Demand for IoT in Smart Cities Solutions
10.2.2 Canada
10.2.2.1 R&D Expenditure Made By Canadian Companies Led to Significant Breakthroughs
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Suitable Government Initiatives to Adopt More IoT in Smart Cities Solutions and Services
10.3.2 Germany
10.3.2.1 Germany is Focusing on IoT in Smart Cities for Deploying Smart Citizen Services
10.3.3 France
10.3.3.1 Corporate Companies to Put Forth Many IoT in Smart Cities Initiatives
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Early Mover Strategy in IoT to Demand More IoT in Smart Cities Solutions
10.4.2 Japan
10.4.2.1 Japanese Government to Focus More on Operational Efficiency
10.4.3 Singapore
10.4.3.1 Favorable Government Initiatives to Convert Cities Into Smart Cities
10.4.4 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 Kingdom of Saudi Arabia
10.5.1.1 Focus on Smart Grids and Other Smart Utility Services is Propelling Market Growth in the Country
10.5.2 Israel
10.5.2.1 Israel’s Focus to Digitally Transform the Government’s Services Calls for the Adoption of IoT in Smart Cities Solutions
10.5.3 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Us-Based IT Companies to Expand Their Footprint Across the Country to Led the Adoption of IoT in Smart Cities Solutions
10.6.2 Mexico
10.6.2.1 Growth in Digital Citizen Services to Lead the Adoption of IoT in Smart Cities Projects
10.6.3 Rest of Latin America

11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis for the IoT in Smart Cities Market
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Business Expansions
11.3.3 Agreements/Partnerships

12 Company Profiles
(Business Overview, Products/Services/Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
12.1 IBM
12.2 Cisco
12.3 Intel
12.4 Huawei
12.5 Microsoft
12.6 Tech Mahindra
12.7 Honeywell
12.8 Siemens
12.9 Bosch Software Innovations
12.10 PTC
12.11 Schneider Electric
12.12 ARM
12.13 Quantela
12.14 Sierra Wireless
12.15 Hitachi

* Business Overview, Products/Services/Solutions Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details

List of Tables

Table 1 United States Dollar Exchange Rate, 2015–2018
Table 2 Factors Analysis
Table 3 IoT in Smart Cities Market Size, By Offering, 2016–2023 (USD Billion)
Table 4 Solutions: Market Size By Region, 2016–2023 (USD Billion)
Table 5 Services: Market Size By Region, 2016–2023 (USD Billion)
Table 6 IoT in Smart Cities Market Size, By Solution, 2016–2023 (USD Billion)
Table 7 Remote Monitoring: Market Size By Region, 2016–2023 (USD Billion)
Table 8 Real-Time Location System: Market Size By Region, 2016–2023 (USD Billion)
Table 9 Network Management: Market Size By Region, 2016–2023 (USD Billion)
Table 10 Security: IoT in Smart Cities Market Size, By Region, 2016–2023 (USD Billion)
Table 11 Data Management: Market Size By Region, 2016–2023 (USD Billion)
Table 12 Reporting and Analytics: Market Size By Region, 2016–2023 (USD Billion)
Table 13 IoT in Smart Cities Market Size, By Service, 2016–2023 (USD Billion)
Table 14 Professional Services: Market Size By Region, 2016–2023 (USD Billion)
Table 15 IoT in Smart Cities Market Size, By Professional Service, 2016–2023 (USD Billion)
Table 16 Consulting: Market Size By Region, 2016–2023 (USD Billion)
Table 17 Deployment and System Integration: Market Size By Region, 2016–2023 (USD Billion)
Table 18 Support and Maintenance: Market Size By Region, 2016–2023 (USD Billion)
Table 19 Managed Services: Market Size By Region, 2016–2023 (USD Billion)
Table 20 IoT in Smart Cities Market Size, By Application, 2016–2023 (USD Billion)
Table 21 Smart Transportation: Market Size By Region, 2016–2023 (USD Billion)
Table 22 Smart Building: Market Size By Region, 2016–2023 (USD Billion)
Table 23 Smart Utilities: Market Size By Region, 2016–2023 (USD Billion)
Table 24 Smart Citizen Services: Market Size By Region, 2016–2023 (USD Billion)
Table 25 Smart Citizen Services: Market Size By Service, 2016–2023 (USD Billion)
Table 26 Education Market Size, By Region, 2016–2023 (USD Billion)
Table 27 Healthcare Market Size, By Region, 2016–2023 (USD Billion)
Table 28 Public Safety Market Size, By Region, 2016–2023 (USD Billion)
Table 29 IoT in Smart Cities Market Size, By Region, 2016–2023 (USD Billion)
Table 30 North America: Market Size By Offering, 2016–2023 (USD Billion)
Table 31 North America: Market Size By Solution, 2016–2023 (USD Billion)
Table 32 North America: Market Size By Service, 2016–2023 (USD Billion)
Table 33 North America: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 34 North America: Market Size By Application, 2016–2023 (USD Billion)
Table 35 North America: Market Size By Smart Citizen Service, 2016–2023 (USD Billion)
Table 36 North America: Market Size By Country, 2016–2023 (USD Billion)
Table 37 Europe: IoT in Smart Cities Market Size, By Offering, 2016–2023 (USD Billion)
Table 38 Europe: Market Size By Solution, 2016–2023 (USD Billion)
Table 39 Europe: Market Size By Service, 2016–2023 (USD Billion)
Table 40 Europe: Market Size By Professional Service 2016–2023 (USD Billion)
Table 41 Europe: Market Size By Application, 2016–2023 (USD Billion)
Table 42 Europe: Market Size By Smart Citizen Service, 2016–2023 (USD Billion)
Table 43 Europe: Market Size By Country, 2016–2023 (USD Billion)
Table 44 Asia Pacific: IoT in Smart Cities Market Size, By Offering, 2016–2023 (USD Billion)
Table 45 Asia Pacific: Market Size By Solution, 2016–2023 (USD Billion)
Table 46 Asia Pacific: Market Size By Service, 2016–2023 (USD Billion)
Table 47 Asia Pacific: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 48 Asia Pacific: Market Size By Smart Citizen Service, 2016–2023 (USD Billion)
Table 49 Asia Pacific: Market Size By Country, 2016–2023 (USD Billion)
Table 50 Middle East and Africa: IoT in Smart Cities Market Size, By Offering, 2016–2023 (USD Billion)
Table 51 Middle East and Africa: Market Size By Solution, 2016–2023 (USD Billion)
Table 52 Middle East and Africa: Market Size By Service, 2016–2023 (USD Billion)
Table 53 Middle East and Africa: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 54 Middle East and Africa: Market Size By Application, 2016–2023 (USD Billion)
Table 55 Middle East and Africa: Market Size By Smart Citizen Service, 2016–2023 (USD Billion)
Table 56 Middle East and Africa: Market Size By Country, 2016–2023 (USD Billion)
Table 57 Latin America: IoT in Smart Cities Market Size, By Offering, 2016–2023 (USD Billion)
Table 58 Latin America: Market Size By Solution, 2016–2023 (USD Billion)
Table 59 Latin America: Market Size By Service, 2016–2023 (USD Billion)
Table 60 Latin America: Market Size By Professional Service, 2016–2023 (USD Billion)
Table 61 Latin America: Market Size By Application, 2016–2023 (USD Billion)
Table 62 Latin America: Market Size By Smart Citizen Service, 2016–2023 (USD Billion)
Table 63 Latin America: Market Size By Country, 2016–2023 (USD Billion)
Table 64 New Product Launches, 2016–2018
Table 65 Business Expansions, 2017–2018
Table 66 Agreements/Partnerships, 2016–2018

List of Figures

Figure 1 IoT in Smart Cities Market: Research Design
Figure 2 Research Methodology
Figure 3 Market Size 2016–2023
Figure 4 Market Analysis
Figure 5 Fastest-Growing Segments in the IoT in Smart Cities Market, 2018–2023
Figure 6 IoT in Smart Cities Market: Regional Analysis, 2018
Figure 7 Increasing Smart City Initiatives to Drive the Market Growth During the Forecast Period
Figure 8 Solutions Segment to Lead the Market During the Forecast Period
Figure 9 Remote Monitoring Segment to Lead the Market During the Forecast Period
Figure 10 Professional Services Segment to Lead the Market During the Forecast Period
Figure 11 Smart Citizen Services Segment to Lead the Market During the Forecast Period
Figure 12 IoT in Smart Cities Market: Market Investment Scenario
Figure 13 Drivers, Restraints, Opportunities, and Challenges: IoT in Smart Cities Market
Figure 14 Market Smart Transportation Ecosystem Analysis
Figure 15 Market Smart Buildings Ecosystem Analysis
Figure 16 Market Smart Utilities Ecosystem Analysis
Figure 17 Market Smart Citizen Services Ecosystem Analysis
Figure 18 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 19 Reporting and Analytics Segment to Grow at the Highest CAGR During the Forecast Period
Figure 20 Managed Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 21 Smart Transportation Segment to Grow at the Highest CAGR During the Forecast Period
Figure 22 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 23 North America: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Key Developments By Leading Players in the IoT in Smart Cities Market During 2015–2018
Figure 26 Market Ranking, 2018
Figure 27 IBM: Company Snapshot
Figure 28 Cisco: Company Snapshot
Figure 29 Intel: Company Snapshot
Figure 30 Huawei: Company Snapshot
Figure 31 Microsoft: Company Snapshot
Figure 32 Tech Mahindra: Company Snapshot
Figure 33 Honeywell: Company Snapshot
Figure 34 Siemens: Company Snapshot
Figure 35 PTC: Company Snapshot

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