Indonesia smart cities market is likely to grow at a CAGR of 22.6% over the forecast period, i.e., 2023-2035. Market generated a revenue of around USD 27,000 Million in the year 2022 and is likely to produce revenue worth of nearly USD 240,000 Million by the end of 2035. The market growth is primarily driven by the increasing industrial automation, expanding prevalence of 5g services and digitization, and growing government efforts to create smart cities. The World Economic Forum estimates that Indonesia will have 202 million internet users in 2021, who will spend an additional USD 70 billion online, and USD 146 billion online in 2025. Moreover, with the integration of technologies like robots, 3D printing, cloud computing, and others, the country of Indonesia hopes to maximize the Fourth Industrial Revolution. Besides that, approximately 27% of industries currently employ robotics, while approximately 68% of industries are aware of it. Besides this, rising demand for advanced technologies, and growing collaboration between public and private sectors is also expected to augment the market growth.
A few constraints that are anticipated to restrain market expansion include the high development costs of current agriculture equipment, a lack of competent people to run the new technologies, and farmers' limited ability to purchase pricey technology. For instance, IAxiata and Huawei had signed a memorandum of understanding (MoU) to work together to develop '5G City.' This project aimed to employ 5G technology to build a smart city, foresee technological innovation, run networks intelligently, and improve user experience.
The Indonesia smart cities market is segmented by technology, and application. On the basis of functional area, the market is further fragmented into smart transportation, smart citizen services, smart building, smart utilities, and others. By 2035, the market for smart citizen services segment is expected to have generated highest revenue of around USD 90,000 million by rising at a considerable CAGR of more than 23% over the forecast period. Additionally, the segment generated about USD 10,000 Million in revenue in 2022. The few factors that are most likely to stimulate segment expansion are the dynamic government initiatives to promote smart education, and the necessity for technology in the healthcare sector.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Indonesia smart cities market that are included in our report are Honeywell International Inc., General Elect, IBM Corporation, Siemens AG, Schneider Electric., Oracle Corporation, Microsoft Corporation, Huawei Technologies Co. Ltd., and Cisco Systems Inc.
A few constraints that are anticipated to restrain market expansion include the high development costs of current agriculture equipment, a lack of competent people to run the new technologies, and farmers' limited ability to purchase pricey technology. For instance, IAxiata and Huawei had signed a memorandum of understanding (MoU) to work together to develop '5G City.' This project aimed to employ 5G technology to build a smart city, foresee technological innovation, run networks intelligently, and improve user experience.
The Indonesia smart cities market is segmented by technology, and application. On the basis of functional area, the market is further fragmented into smart transportation, smart citizen services, smart building, smart utilities, and others. By 2035, the market for smart citizen services segment is expected to have generated highest revenue of around USD 90,000 million by rising at a considerable CAGR of more than 23% over the forecast period. Additionally, the segment generated about USD 10,000 Million in revenue in 2022. The few factors that are most likely to stimulate segment expansion are the dynamic government initiatives to promote smart education, and the necessity for technology in the healthcare sector.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Indonesia smart cities market that are included in our report are Honeywell International Inc., General Elect, IBM Corporation, Siemens AG, Schneider Electric., Oracle Corporation, Microsoft Corporation, Huawei Technologies Co. Ltd., and Cisco Systems Inc.
Table of Contents
1. An Outline of the Market
3. Research Methodology and Approach
5. Forces of the Market Constituents
10. Industry Risk Analysis
11. Global Economic Outlook: Challenges for Recovery and its Impact on Indonesia Smart Cities Market
20. Competitive Model: A Detailed Inside View for Investors
21. Indonesia Smart Cities Market Outlook & Projections, Opportunity Assessment, 2022 to 2035
Companies Mentioned
- Honeywell International Inc.
- General Elect
- IBM Corporation
- Siemens AG
- Schneider Electric.
- Oracle Corporation
- Microsoft Corporation
- Huawei Technologies Co. Ltd.
- Cisco Systems Inc.
