City Data Platform Market Size Worth $313.78 Billion By 2032 | CAGR: 16.4%

The Global city data platform market size is expected to reach USD 313.78 billion by 2032, according to a new study by Polaris Market Research. The report “City Data Platform Market Share, Size, Trends, Industry Analysis Report, By Stream Type (Demand-Side Stream, Supply-Side Stream, Analytical Stream, and Standardization Stream); By Deployment Mode; By End-User; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

One of the main factors propelling the market for city data platforms is the ability of relevant local governments and authorities to create smart cities. Through their different policies and activities aimed at the implementation of smart services as a significant component of their infrastructure, governments have been playing a significant role in the smart city sector.

As per the US Government, the Administration is unveiling the new "Smart Cities" Initiative that will use more than 25 latest technological collaborations and over $160 million in federal research funding to assist local communities in addressing pressing issues like reducing traffic congestion, combating crime, promoting economic growth, coping with the effects of climate change, and enhancing the provision of city services. During the forecast period, this is also anticipated to play a significant role in driving the city data platform market's expansion.

Apart from this, for the development of cutting-edge emergency response technology for Smart Cities, the Department of Homeland Security (DHS) has announced intentions to spend $50 million over the forecast period. Also, the Department of Energy (DOE) will spend roughly $10 million to increase its assistance in the creation of smart, energy-efficient, and low-emission towns that use Smart Cities technologies. As a result, the government is concentrating on energy distribution utilizing effective models and methods to move this region closer to a low-carbon future, which in turn is encouraging the need for efficient smart city management solutions. Therefore, the market for city data platforms is rising at a rapid rate.

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In addition, governments in developing nations like China, South Korea, Dubai, India, Singapore, and Japan are sponsoring numerous programs to construct smart cities for their economies, which is expected to increase demand for smart city data platform solutions in the area. As per the IBEF, Singapore has expressed interest in supporting India's Smart City Initiative and offered to assist in creating Amravati, the new capital of Andhra Pradesh, as a smart city. The nation is also considering re-engineering, modernizing, and renovating the aging Indian city.

Italy has expressed interest in the idea of smart cities and pledged to invest US$ 1.2 trillion over the next 20 years through several initiatives. The Italian businesses will contribute to the design and technology of the smart cities, providing services ranging from consulting to the actual building of the infrastructure. As a result, rising government initiatives as well as increasing government investment across the globe are boosting the growth of the market over the forecast period.

City Data Platform Market Report Highlights

• Transport segment is anticipated to grow at high pace over the forecast period owing to the providing the finest transportation service.
• On-Premise accounted for highest revenue share. Corporate data is stored/managed internally within the firm via an on-premises solution.
• Asia-pacific is expected to grow prominently over the projected period on account of urbanization causing more traffic and environmental issues
• The global players include Alibaba Group, Inspur Technologies, Cisco Systems, and Quantela, Inc.

Polaris Market Research has segmented the City Data Platform market report based on stream type, deployment mode, end-user, and region:

City Data Platform, Stream Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Demand-Side Stream
• Supply-Side Stream
• Analytical Stream
• Standardization Stream

City Data Platform, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

• Transport
• Retail
• Municipality
• Others

City Data Platform, Deployment Mode Outlook (Revenue - USD Billion, 2019 - 2032)

• On-Premise
• Cloud

City Data Platform, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

City Data Platform Market Report Scope