The 'Smart City Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028' report shows that the global smart city platform market has experienced substantial growth, reaching US$ 22.6 billion in 2022, with a projected Compound Annual Growth Rate (CAGR) of 36.3% from 2023 to 2028. 

Key Trends:

  • Population growth and urbanisation: increased global population and urbanisation fuel demand for sustainable infrastructure, spurring smart city adoption.
  • Government initiatives for cloud-based services: governments worldwide implement policies to promote cloud services, advancing smart city initiatives.
  • IoT and AI proliferation: widespread adoption of IoT and AI technologies generates vast data, creating opportunities for smart city platforms.

Key market segmentation: the report breaks down the global smart city platform market by type, deployment, and application, forecasting from 2023-2028 globally, regionally, and by country.

Competitive landscape: key players in the smart city platform market include Amazon Web Services, Cisco, Hitachi, Huawei, Intel, IBM, Microsoft, NEC, Oracle, SAP, Siemens, and Ericsson.

​​​​​​​Source of information: https://www.globenewswire.com/news-release/2023/11/08/2776032/0/en/Sustainable-Urbanization-Drives-Demand-for-Smart-City-Platforms-Offering-Integration-of-IoT-and-AI-for-Enhanced-Quality-of-Life.html (Published 08 November 2023).