UAE Smart Cities Market (2023-2029) Revenue, Size, Value, Share, COVID-19 Impact, Forecast, Companies, Industry, Growth, Analysis & Trends: Market Forecast By Components, By Application and Competitive Landscape

UAE Smart Cities Market Synopsis

UAE smart cities market was growing rapidly in the past due to the government’s strong focus on the economic diversification of emirates, under this, in 2013, the Smart Dubai project was initiated which contained more than 100 initiatives to make Dubai a truly smart city by 2030. the project encompassed smart infrastructure, smart governance and smart mobility technologies. Under this plan UAE invested in digital infrastructure such as 5G and digitizing the government operations through technologies like mPay, DubaiNow and Smart NoI card. Consequently, Dubai became the world’s first paperless city in 2021 and scored a rank of 29 in the top 118 smart cities globally. Further, a strong recovery in 2021 in the market after experiencing a setback of 6.6% during the COVID-19 outbreak shows resilience in the smart cities market of the country due to the government’s strong support and technological vision.
According to this research, the UAE Smart Cities market size is anticipated to grow at a CAGR of 16.5% during 2023-2029F. The UAE's smart city industry is set to experience continued growth in the upcoming years, primarily due to the government's persistent initiatives and investments in sustainable economic diversification. The country's consistent adoption and integration of advanced technologies such as artificial intelligence, Internet of Things (IoT), and blockchain are expected to further drive the development of smart cities. Emphasizing sustainability and environmental conservation, the UAE's focus on smart solutions promoting energy efficiency, waste management, and sustainable urban planning would play a pivotal role. With rapid urbanization, a growing population, and a rising demand for efficient infrastructure and public services, smart city solutions are anticipated to address these challenges, fostering the expansion of the smart city market. Furthermore, the UAE's emphasis on fostering innovation and entrepreneurship, along with its open approach to international collaboration and investment, would contribute significantly to the growth of the smart city sector in the country.

Market by Components

In the Middle East smart cities landscape, hardware has been dominating the Smart Cities Market in UAE and the trend will continue in future as well on account of the Middle East’s burgeoning new constructions under different smart city initiatives. Hardware serves as a fundamental component for further integration of software and automation solutions. Hence, the execution of smart city projects in Middle Eastern countries is driving the market for Hardware.

Market by Application

The smart mobility segment garnered a major revenue share in the Middle East smart cities market in 2022 as Smart City projects in the Middle East have a distinct focus on mobility. For Instance, In Saudi Arabia, NEOM announced plans to develop the biggest smart mobility facilities in the world. Similarly, In UAE, Driverless Taxi services and Autonomous transportation are to be launched by RTA in Dubai. Moreover, in Qatar, the Ministry of Transportation announced plans for launching projects in smart mobility through TASMU (The Smart Qatar Program) up to 2030. Additionally, OMAN is implementing a Smart Road management system in Muscat.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years of Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• UAE Smart Cities Market Overview
• UAE Smart Cities Market Outlook
• UAE Smart Cities Market Forecast
• UAE Smart Cities Market Pestel Analysis
• Middle East Smart Market Overview
• Historical Data and Forecast of UAE Smart Cities Market Revenues, for the Period 2019-2029F
• Market Drivers and Restraints
• Historical Market Data and Forecast of Revenues, By Components, for the Period 2019-2029F
• Historical Market Data and Forecast of Revenues, By Applications, for the Period 2019-2029F
• Smart Cities Outlook
• Key Performance Indicators
• Market Opportunity Assessment
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Components

• Hardware
• Software
• Services

By Application

• Smart Governance
• Smart Digital Infrastructure
• Smart Mobility
• Smart Environment
• Smart Living
• Smart People
• Smart Economy