Lucintel Forecasts IoT in Global Smart City Market to Reach $353.3 Billion by 2026

Market-Research

According to the recent study the IoT in global smart city market is projected to reach an estimated $353.3 billion by 2026 from $118.9 billion in 2020, at a CAGR of 19% from 2020 to 2026. Growth in this market is primarily driven by increasing development of smart cities, growing urbanization with increasing adoption of connected and smart technology, and demand for public safety.

Browse 86 figures / charts and 75 tables in this 160-page report to understand trends, opportunities and forecast in IoT in global smart city market by application (smart governance, smart building and infrastructure, smart utilities, smart health, public safety, and smart transportation), technology (short range, LPWA, cellular, and others), component (solution and service), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Short range market is expected to remain the largest segment during the forecast period.”

Based on product type, the IoT in global smart city market is segmented into short range, LPWA, cellular, and others. Lucintel forecasts that the short range market is expected to witness the largest segment in the forecast period due increasing demand for wireless network for the development of smart infrastructure and building automation system.

“Within the IoT in global smart city market, the smart governance segment is expected to remain the largest technology”

Based on technology, the smart governance is expected to witness the largest segment and smart health is expected to witness the highest growth during the forecast period due to increasing penetration of connected devices in healthcare and rising investment in healthcare IoT solutions.

“Asia Pacific will dominate the IoT in global smart city market in near future”

Asia Pacific is expected to be the largest region over the forecast period and it is also expected to witness the highest growth over the forecast period, supported by growing urbanization, increasing demand for efficient infrastructure, and growing public safety concerns.

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Major players of IoT in global smart city market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. IBM, Cisco, Intel, Huawei, and Microsoft are among the major IoT in global smart city providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/iot-in-smart-city-market.aspx or helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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