This market brief provides a concise assessment of the global market opportunity for Internet of Things (IoT) platforms used to enable smart city applications. Throughout the report we use the term “smart city platforms” rather than “IoT platforms for smart cities”. IHS Markit defines IoT platforms in general as software and supporting services that help customers to build IoT applications and manage IoT connections, devices, and data. IoT platforms abstract common complexities away from the customer and enable the customer to focus on their unique value proposition. In the context of smart cities, smart city platforms mainly help suppliers to cities (e.g. system integrators) to develop a “smart city” capability for the city. Smart city platforms also help municipal authorities to manage and operate the resulting smart city deployment.
IHS Markit developed this market brief from September 2019 through November 2019 and it draws primarily from the IHS Markit Smart Cities IoT Intelligence Service for background data and analysis of the smart cities market. We organize the market brief’s contents as follows:
Key findings and implications
- Market overview
- Customer needs
- Competitive landscape
- Market forecast
Senior Principal Analyst, IoT
Sam Lucero has been a technology market and industry analyst since 2001, and he has focused exclusively on analyzing the market opportunity for IoT for the past 15 years.