Smart City Platforms Market By System Type, End User, Regional Analysis and Forecast 2022-2032

 The Smart City Platform Market revenues were estimated at US$ 156.1 Bn in 2021 and is anticipated to grow at a CAGR of 10% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 446.7 Bn. 

Enterprise Resource Planning is crucial for optimizing procedures and boosting corporate operations across sectors. The Internet of Things (IoT) and large data influxes are already shaking up the ERP environment, bringing new opportunities for continuous improvement and process automation. The ERP environment of today is extremely complicated, owing in part to the dizzying pace of technology. 

A small-scale ERP deployment typically requires approximately three months to finish, but a larger-scale project may take up to two years. Meanwhile, substantial technological advancements may occur concurrently with the two-year deployment. The advent of lesser priced cloud computing and SAAS services complicates the marketing of ERP software.

The integration and deployment of smart city platform solutions with ERP solutions is a difficult undertaking that must be completed in phases. The outdated ERP solutions are insufficient to function independently and meet the needs of customers. Additionally, firms are hesitant to migrate to that of an Integrated Workplace Management System (IWMS) or Computerized Smart City Platforms (CAFM) technology. 

Conventional enterprise resource planning (ERP) technology would be preferred by larger firms. Furthermore, smart city platform solutions should not be used as stand-alone solutions in the facility's digital architecture. It is frequently necessary to combine smart city platforms with ERP systems. Furthermore, integrating smart city platform solutions and services with ERP systems is a difficult operation that must be accomplished in stages.

Key Takeaways from the Market Study

  • Global Smart City Platform Market is expected to reach a market size of US$ 446.7 Bn by 2022. 
  • In terms of Offering, the Platform segment is expected to have the highest CAGR of 9.3% during the forecast period.
  • In terms of Delivery Model, the Hybrid segment is expected to account for the largest CAGR of 8.7% during the forecast period.
  • United States is projected to remain the dominant market with absolute dollar growth opportunity of US$ 84.9 Bn during 2022 – 2032.
  • The market in U.S is set to experience the highest CAGR of 9.3% during the 2022-2032 forecast period.

“The surge in venture capital investments by major corporations will benefit the Smart City Platform industry trends in the coming years.” comments a Future Market Insights analyst.

Competitive Analysis

The research discusses key trends in the smart city platform industry as well as inorganic and organic growth methods. Various firms are focusing on organic growth strategies such as product approvals, new product releases. The strategy noted in the sector included mergers and acquisitions, partnerships, and collaborations. These measures have paved the way for market players to grow their business and strengthen distribution network.

Some of the recent developments in smart city platform market include:

  • In October 2021, Siemens took over Wattsense, a French start-up company. Siemens gained the ability to assist businesses throughout Europe in complying with Energy Performance of Buildings Directive due to this purchase (EPBD). This regulation requires tertiary sector buildings to include control and automation technologies that improve energy efficiency and reduce CO2 emissions.
  • In June 2021, Microsoft and Mejo collaborated with Palantir and Sompo Holdings. The firms hoped to facilitate innovative capabilities of connected car data throughout the world through this partnership. Furthermore, the collaboration would help Wejo's goal of building vendor-agnostic industry rules in connected car data, as well as applications across numerous industries such as fleet, insurance, smart city, payments, and mobility, among others.
  • In March 2021, Hitachi has acquired GlobalLogic, a US-based product engineering services firm. Through this takeover, the firm aimed to expand its key segments, namely IT, Energy, Industry, Mobility, and Smart Life and Astemo.

For More Information @
https://www.futuremarketinsights.com/reports/smart-city-platforms-market

Comments

Post a Comment

Popular posts from this blog

Airbag Control Unit Sensor Market Outlook, Trends & Demand Analysis during Forecast 2022 to 2032

 The global Airbag Control Unit Sensor Market is expected to increase at a 6.7% CAGR between 2022 and 2032, from US$ 590.3 million in 2022 to US$ 1,127.6 million. The spike is due to the increase in road fatalities. The airbag control/sensor unit aids in the detection of collisions. Activate the airbags to protect a passenger in the event of a collision. Before activating the appropriate restraint frameworks, the airbag control unit detects and evaluates the severity of an accident. The device receives data from up to six crash sensors. This includes speed sensors as well as a rotational speed sensor. These readings are used to assess and investigate signals from other sensors. The crash signals are then communicated to the airbag control unit and a new additional system, which activates the hazard and interior lights, shuts off the fuel pump, and stops the engine. Restraint systems are further improved to be the most effective based on the type of accident. Get a Sample Copy of this
Read more

Procurement Software Market Report | Size, Growth, Demand, Scope, Opportunities & Forecast 2022-2032

 The worldwide  procurement software is probably going to be esteemed at US$ 6,548.9 million of every 2022 and is anticipated to get a CAGR of 12.3% during the estimate time frame. The market is supposed to develop at a worth of US$ 20,937.9 million by 2032. The deals of procurement software are on the ascent as they are profoundly being conveyed among enterprises to buy and deal with the stock levels carefully. The procurement business is developing quickly with the rising requirements of an association. To make due and support in this seriously cutthroat market, merchants are zeroing in on further developing their conveyance models with innovation. The interaction or the activity to obtain labor and products is known as procurement. Procurement software is a PC program assists in creating a buy with requesting, executing the requesting system on the web, and matching solicitations to materials got, and taking care of all bills electronically. It helps in diminishing outside costs, p
Read more

Advanced Process Control Market Outlook, Growth Opportunity & Demand Analysis during Forecast 2022 to 2032

 The global Advanced Process Control market by Future Market Insights reveals hidden opportunities as well as potential threats. From 2022 to 2032, the advanced process control market is expected to grow at a 9.31% CAGR. The report provides in-depth coverage of the Advanced Process Control market, with a focus on the key growth drivers, opportunities, restraints, and challenges that are expected to dominate the market in the coming years. According to FMI, the industrial automation industry will continue to grow through 2022 and beyond. Increasing machine usage and demand for high-quality products in various industries, as well as the installation of smart devices in machinery, are some of the factors driving the growth of the Advanced Process Control market in the industrial automation industry. Download A Sample Copy of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-509 Automation is being implemented in industries to increase productivity and reduce labour
Read more