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The smart city platform market size is forecast to increase by USD 59.1 billion at a CAGR of 23.1% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for efficient urban infrastructure and services. Key drivers include the expanding need for building automation and government initiatives to develop smart cities. Edge computing and cloud computing services are essential components of smart city platforms, enabling real-time data processing and analysis. Security systems, powered by artificial intelligence (AI) and machine learning , are crucial for ensuring public safety and managing traffic flow. Machine-to-Machine communications and mesh networks facilitate seamless data exchange between devices, enabling applications like smart parking and traffic management. However, high switching and installation costs remain a challenge for market growth. In conclusion, the market is poised for continued expansion as cities worldwide seek to improve their infrastructure and enhance the quality of life for their residents.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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