Smart Cities - Global Strategic Business Report

The global market for Smart Cities was valued at US$1.7 Trillion in 2024 and is projected to reach US$5.8 Trillion by 2030, growing at a CAGR of 22.8% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Smart Cities Market - Key Trends & Drivers Summarized

Smart cities represent the future of urban living, utilizing advanced technologies and data analytics to enhance the quality of life, optimize resource usage, and improve urban services. These cities integrate information and communication technologies (ICT) across various domains, including transportation, energy management, waste management, public safety, and healthcare. By leveraging IoT devices, sensors, and data analytics, smart cities can monitor and manage urban infrastructure more efficiently. Examples include smart grids for energy distribution, intelligent traffic management systems to reduce congestion, and smart waste management systems that optimize collection routes and reduce operational costs. The ultimate goal of smart cities is to create sustainable, livable, and resilient urban environments.

The development of smart cities is driven by several factors, including rapid urbanization, the need for sustainable development, and advancements in technology. As urban populations grow, cities face increasing pressure on infrastructure and resources, necessitating smarter solutions to manage these challenges. Technological advancements in IoT, AI, and big data analytics are enabling the development and deployment of smart city solutions. Governments and municipal authorities are also playing a critical role by investing in smart infrastructure and formulating policies that promote the adoption of smart technologies. Public-private partnerships are emerging as a key model for financing and implementing smart city projects, combining the strengths of both sectors to drive innovation and efficiency.

The growth in the smart cities market is driven by several factors. Firstly, the rapid urbanization and the associated pressure on urban infrastructure and resources are driving the need for smart city solutions. Secondly, technological advancements in IoT, AI, and data analytics are enabling the development of more effective and efficient urban management systems. Thirdly, government initiatives and investments in smart infrastructure are accelerating the adoption of smart city technologies. Lastly, the increasing emphasis on sustainability and resilience is prompting cities to adopt smart solutions that optimize resource usage and enhance urban living conditions. These factors collectively contribute to the dynamic growth of the smart cities market.

Scope of the Study

The report analyzes the Smart Cities market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments:

Component (Hardware, Software, Services); Application (Smart Buildings & Infrastructure, Smart Governance & Education, Smart Energy, Smart Healthcare, Smart Mobility, Other Applications).

Geographic Regions/Countries:

World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Smart Cities Hardware segment, which is expected to reach US$2.6 Trillion by 2030 with a CAGR of a 20.1%. The Smart Cities Software segment is also set to grow at 23.9% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $442.7 Billion in 2024, and China, forecasted to grow at an impressive 24.7% CAGR to reach $823.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as AT&T, Inc., ABB Ltd., Accenture PLC, Atos SE, Advantech Co., Ltd. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Smart Cities Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Smart Cities Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Smart Cities Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 187 major companies featured in this Smart Cities market report include:

• AT&T, Inc.
• ABB Ltd.
• Accenture PLC
• Atos SE
• Advantech Co., Ltd.
• Acuity Brands Lighting Inc.
• Applied Information, Inc.
• Aeris Communications, Inc.
• Arm Ltd.
• ABM Industries, Inc.
• Alstom SA
• Aveva Group PLC
• Alibaba Cloud
• Amano Corporation
• Anagog Ltd.