IoT in Smart Cities Market Expected to Reach 147.51 Billion USD by 2020

(IT-NEWSWIRE.COM, May 31, 2018 ) According to a new market research report "Internet of Things (IoT) in Smart Cities Market by Solutions (Remote Monitoring, Data Management) Platform (Application & Device Management) Application (Building Automation, Energy Management, Transportation) - Global Forecast to 2020", The IoT in smart cities market size is estimated to grow from USD 51.96 Billion in 2015 to USD 147.51 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 23.2% during the forecast period.

The major growth drivers of this market include increasing demand for intelligent cities globally and the rising demand for IoT devices. More than 200 smart city projects across the globe provide huge opportunities in this market for IoT vendors, service providers, platform providers, and consulting companies.

Browse 63 market data Tables and 46 Figures spread through 135 Pages and in-depth TOC on "Internet of Things (IoT) in Smart Cities Market - Global Forecast to 2020"

https://www.marketsandmarkets.com/Market-Reports/iot-smart-cities-market-215714954.html

Growing concept of connected cities and increasing deployment of connected devices to open major opportunities

The market smart city has considerably grown over the past few years and the emergence of disruptive technologies such as IoT and connected devices has further augmented the opportunity areas for IoT in smart cities. The advancement in IoT technologies, cloud-based platforms, and services are marked with increasing IoT application and has led to significant investment in smart cities. The development of smart devices such as smart meters, home gateways, smart appliances, and smart plugs would also act as an opportunity for the IoT in smart cities market. Government policies, privacy and security issues, inadequate financial incentives for utilities and interoperability and standard interface are the major restraints of the overall growth of this market.

Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=215714954

Data management solutions sub segment expected to hold the most promising potential for next five years

The IoT in smart cities market has been segmented into solutions, services, technologies, platforms, and applications. The data management and location analytics solution sub segment is projected to grow at a high growth rate and present good market opportunity during the forecast period. System integration services hold a major share in the IoT smart cities services segment. The increasing integration of ICT and IoT with different industries is considered as the primary driver influencing the growth of the IoT in smart cities services market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

MarketsandMarkets

Mr. Salgarkar

1-888-600-6441

sales@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com

Technology News & Search Engine

IoT in Smart Cities Market Expected to Reach 147.51 Billion USD by 2020