Europe IoT in Smart Cities Market – Market Size, Strategic Growth Drivers, Risk Assessment Framework, Regulatory Landscape Review, Competitive Intensity Mapping & Long-Term Industry Outlook to 2027
Overview
Europe IoT in Smart Cities Market was valued at US$ 32.5 Bn in 2020 and is expected to reach US$ 90.20 Bn by 2027 at a CAGR of 15.7% during the forecast period of 2021-2027.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Europe IoT in Smart Cities Market Overview
Europe have remained one of the key regions to have monitored growth and adoption of IoT based devices that are connected through internet and can be accessed through different platforms and apps. Presently, companies all over the world have worked on delivering services that may provide a higher sustainability and a better living standard for people. UK and Germany have been a few key regions within Europe that have grown with the technological evolution and have gradually progressed into implementing the cutting-edge technology for delivering state-of-the-art infrastructure.
The costs together with the accessibility of IoT technologies is helping more private companies to use devices for helping in instrumentation of the physical infrastructure connected through the smartphones that many people carry. Cloud computing has had a significant role and influence on the overall development of smart cities that are connected through IoT. It has further affected how these cities manage or deliver services to reduce costs and increase efficiency
Europe IoT in Smart Cities Market Dynamics:
IoT in smart cities market growth is principally driven by changes in the technology, human and institutional aspects in Europe. For the technology aspects, it is the sensing/actuating, networking, and data analytics that have been the major contributing factors. For the human aspects being considered includes education & governance, social capital and lifestyle among others. Mostly for the institutional aspects, the factors that are considered includes urban planning, communities, and governance. The cardinal value of the smart cities and enabling it with IoT works on the concept of, creating value for the entire ecosystem that may get assessed in quantitative as well as qualitative terms.
Europe IoT in Smart Cities Market Segment Analysis
On the basis of platform, IoT platforms have gradually become an essential part of the IoT stack. These platforms are required to manage, monitor, store, secure as well as analyse IoT data. It has a growing role for the artificial intelligence sector along with the enablement of applications having a growing focus towards vertical applications or open source. IoT device management, and the lack of standards or interoperability present with related gaps in a broader IoT perspective is present. Hereby, they serve as a bridge for closing gaps. IoT platforms fulfil many potential goals such as faster development of IoT applications, linking the backend with the device ecosystem, IoT device management, and data collection & integration among others.
On the basis of solution, The data management solutions or the location analytics solution have gained demand and has potential growth opportunities for future as well. The data crunching across organizations have resulted in more number of companies opting for smarter solutions to manage data and work on the precise as well as timely utilization of the information. Data management solutions have huge scope as well considering the fact more number of people are getting into the positivity of managing the real-time information available.
On the basis of Application, The implementation of IoT in the transportation, building automation, and infrastructure management sector have become a compulsion for companies that are gradually working on enhancing the user experience. The retention of customers along with their loyalty have helped companies to boost their brand share. More companies are putting in their investments on IoT based devices that are connected via artificial intelligence and have remained a necessary component for the interconnected devices.
Europe IoT in Smart Cities Key Highlights:
• IoT in Smart Cities Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the IoT in Smart Cities Market.
• IoT in Smart Cities Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• IoT in Smart Cities Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• IoT in Smart Cities Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the IoT in Smart Cities Market are also profiled.
Scope Of The Europe IoT in Smart Cities Market : Inquire before buying
The above data will be provided for following countries (USD Billion)
• Europe
o Germany
o UK
o France
o Spain
o Italy
o Russia
Europe IoT in Smart Cities Market Key Players
Bosch Software Innovation GmbH
Elton Technologies
Telensa,
Huawei
4energy
D30
EVRYTHNG
TSystems
Robotina Doo
Quamtra
Urbiotica
e3tcity
Enerbrain
Nettrotter
Inteliment Technologies
Nokia Networks
Qualcomm
Intel Corporation
Prosyn Ltd.
Darktrace.
Frequently Asked Questions:
1) Which economy has the largest share in Europe IoT in Smart Cities Market?
Ans: Germany holds the highest share in 2020.
2) What is the growth rate of Europe IoT in Smart Cities Market?
Ans: The Europe market is growing at a CAGR of 15.7% during forecasting period 2021-2027.
3) What segments are covered in Europe IoT in Smart Cities Market?
Ans: IoT in Smart Cities Market is segmented into technology, solution, platform, application and country wise.
4) Who are the key players in Europe IoT in Smart Cities Market?
Ans: The important key players in the Europe market are – Bosch Software Innovation GmbH, Elton Technologies, Telensa, Huawei, 4energy, D30, EVRYTHNG, TSystems, Robotina Doo, Quamtra, Urbiotica, e3tcity, Enerbrain, Nettrotter, Inteliment Technologies, Nokia Networks, Qualcomm, Intel Corporation, Prosyn Ltd., Darktrace.
5) What is the study period of this market?
Ans: The Europe IoT in Smart Cities Market is studied from 2020 to 2027.