Published Date: 24-Jan-2022
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According to a new report Global Smart City Platforms Market, published by KBV research, The Global Smart City Platforms Market size is expected to reach $248.60 billion by 2027, rising at a market growth of 14.7% CAGR during the forecast period.
The Platforms market dominated the Global Smart City Platforms Market by Offering 2020, thereby, growing at a CAGR of 13.6% during the forecast period. These platforms can track event streams and IoT endpoints and fulfill & translate several manufacturers and industry proprietary protocols. Further, smart city platforms facilitate the connectivity between objects or platforms and comprise many crucial building blocks like connectivity and normalization and external interfaces.
The Hybrid market dominated the Global Smart City Platforms Market by Delivery Model 2020, thereby growing at a CAGR of 14.3% during the forecast period. The connectivity management and security platforms are increasing the adoption rate of the hybrid delivery model. In this kind of delivery model, customers, as well as vendors, can accrue the advantages of both on-site and offshore models. In addition, hybrid solutions provide many functionalities as well as primary features, thereby contributing to the increased adoption of the overall hybrid solutions during the forecasting period.
The North America market dominated the Global Smart City Platforms Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $91.510 billion by 2027. The Europe market is poised to grow a CAGR of 13.8% during (2021 - 2027). Additionally, The Asia Pacific market would showcase a CAGR of 16.8% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Delivery Model
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