The Global Smart Cities Market is anticipated to register a high CAGR during the forecast period.

Smart cities are technologically advanced metropolitan areas that utilize various smart electrical techniques and smart sensors to gather certain data. The knowledge gathered from that data is utilized to manage resources, services, and assets effectively. It is also used to enhance operations throughout the city. To monitor and control traffic and transportation systems, power plants, utilities, water supply networks, waste, criminal investigations, information systems, schools, libraries, hospitals, and other community services, data is processed and analyzed from information gathered from participants, devices, buildings, and assets. Smart cities are those that employ technology effectively in their planning, monitoring, and administration of the city. Data sharing in smart cities extends beyond the boundaries of the city to businesses and residents, that stand to gain from the data's numerous applications. Sharing data across various systems and industries opens up possibilities for better knowledge and financial benefit.

Advancements in Technologies

Emerging technologies such as AI, ML, cloud data analytics, IoT, and cybersecurity have advanced quickly in recent years. The better connection has been made possible by the increasing usage of these technologies in the context of smart cities, completely transforming the ecosystem. The system may gather data from many sources with the aid of IoT devices and then share it with a central control point by utilizing the cloud. Such cutting-edge technologies are applied in a variety of contexts, including security, privacy, and environmental sustainability, in addition to enhancing the lives of residents. For instance, a Mexico city employs technological improvements to manage connected devices effectively in real-time, using an IoT platform called a control center.

Advanced Learning & Intelligence responsible for Smart Cities Advancement

Machine learning and artificial intelligence are enabling self-sufficient and futuristic systems, companies, and individuals in smart cities. These technologies gather enormous quantities of data to modernize the systems and parts that power cities and enable them to make wise judgments with minimal human input. Building smart cities require the use of artificial intelligence and machine learning algorithms, which are already essential components of many sectors. The deployment of machine learning-powered, AI-enabled intelligent equipment generates cyber-physical space, which includes smart meters, traffic sensors, medical monitoring systems, industrial control systems, video cameras, and environmental sensors. Machine-generated data aids in predictive analysis and decision-making for the design of smart cities.

Government Initiatives

Through their legislation and programs aimed at the deployment of smart services as a significant component of their infrastructure, governments throughout the world have been playing a significant role in the smart cities business. As an illustration, the General Services Administration's (GSA) Smart Buildings programs, launched in May 2012, intended to decline the costs and promote smart services with updated federal government buildings that were mostly enabled by linked technology. Similar to this, the European smart cities sector is anticipated to expand rapidly due to its emphasis on energy and climate goals. As a result, the government is concentrating on the distribution of energy using effective models and policies to move closer to a low-carbon future. Additionally, governments of many countries, for instance, China, South Korea,UAE, India, Singapore, and Japan seek for the economic growth of their countries. . Furthermore, China has planned 500 pilot projects for digital cities, another significant government investment in the area. In addition, Dubai's desire to fulfil the Smart Dubai Plan 2021 aim of becoming a 100% paperless government has accelerated the adoption of smart services in the region, which is fueling the expansion of the smart cities industry.


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Market Segmentation

The Global Smart Cities Market is divided into smart utilities, smart governance, and smart transportation. Based on smart utilities, the market is divided into water management, waste management, and energy management. Based on smart governance, the market is segmented into smart lighting, smart infrastructure, and city surveillance. Based on smart transportation, the market is divided into intelligent transportation systems, parking management, smart ticketing & travel assistance. Based on smart citizens service, the market is segmented into smart healthcare, smart education, smart public safety, smart street lighting, others.

Market Players

Major market players in the Global Smart Cities Market are ABB Limited, AGT International, AVEVA Group plc, Cisco Systems Inc, Honeywell International Inc, International Business Machines Corporation, Itron Inc, Kapsch Group, Huawei Technologies Co Ltd, Microsoft Corporation, Oracle Corporation, Osram Gmbh, SAP SE, Schneider Electric SE, Siemens AG, Telensa, and Verizon.

Attribute

Details

Base Year

2022

Historic Data

2018– 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2024-2028

Report Coverage

Revenue forecast, company share, growth factors, and trends

Segments Covered

Smart Utilities

Smart Governance

Smart Transportation

Smart Citizens Service

Regional scope

Asia-Pacific, North America, Europe, Middle East & Africa, South America

Key companies profiled

ABB Limited, AGT International, AVEVA Group plc, Cisco Systems Inc, Honeywell International Inc, International Business Machines Corporation, Itron Inc, Kapsch Group, Huawei Technologies Co Ltd, Microsoft Corporation, Oracle Corporation, Osram Gmbh, SAP SE, Schneider Electric SE, Siemens AG, Telensa, Verizon.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Global Smart Cities Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         Global Smart Cities Market, By Smart Utilities:

o   Water Management

o   Waste Management

o   Energy Management

·         Global Smart Cities Market, By Smart Governance: 

o   Smart Lighting

o   Smart Infrastructure

o   City Surveillance

·         Global Smart Cities Market, By Smart Transportation:

o   Intelligent Transportation Systems

o   Parking Management

o   Smart Ticketing & Travel Assistance

·         Global Smart Cities Market, By Smart Citizens Service: 

o   Smart Healthcare

o   Smart Education

o   Smart Public Safety

o   Smart Street Lighting

o   Others

·         Global Smart Cities Market, By Region:

o   Asia-Pacific

o   North America

o   Europe

o   Middle East & Africa

o   South America

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Smart Cities Market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
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1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on the Global Smart Cities Market

4.    Executive Summary

5.    Voice of Customers

5.1.1.    Brand Awareness

5.1.2.    Factors Considered for Choosing Global Smart Cities Market.

5.1.3.    Major Challenges Related to Global Smart Cities Market.

6.    Global Smart Cities Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Smart Utilities (Water Management, Waste Management and Energy Management)

6.2.2.    By Smart Governance (Smart Lighting, Smart Infrastructure, and City Surveillance)

6.2.3.    By Smart Transportation (Intelligent Transportation Systems, Parking Management, Smart Ticketing & Travel Assistance)

6.2.4.    By Smart Citizens Service (Smart Healthcare, Smart Education, Smart Public Safety, Smart Street Lighting, Others)

6.2.5.    By Region

6.2.6.    By Company (2022)

7.    Asia-Pacific Smart Cities Market Outlook

7.1. Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Smart Utilities

7.2.2.    By Smart Governance   

7.2.3.    By Smart Transportation

7.2.4.    By Smart Citizens Service

7.2.5.    By Country

7.3. Asia-Pacific: Country Analysis

7.3.1.    China Smart Cities Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Smart Utilities

7.3.1.2.2.           By Smart Governance

7.3.1.2.3.           By Smart Transportation

7.3.1.2.4.           By Smart Citizens Service

7.3.2.    Japan Smart Cities Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Smart Utilities

7.3.2.2.2.           By Smart Governance

7.3.2.2.3.           By Smart Transportation

7.3.2.2.4.           By Smart Citizens Service

7.3.3.    India Smart Cities Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Smart Utilities

7.3.3.2.2.           By Smart Governance

7.3.3.2.3.           By Smart Transportation

7.3.3.2.4.           By Smart Citizens Service

7.3.4.    South Korea Smart Cities Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Smart Utilities

7.3.4.2.2.           By Smart Governance

7.3.4.2.3.           By Smart Transportation

7.3.4.2.4.           By Smart Citizens Service

7.3.5.    Australia Smart Cities Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Smart Utilities

7.3.5.2.2.           By Smart Governance

7.3.5.2.3.           By Smart Transportation

7.3.5.2.4.           By Smart Citizens Service

8.    North America Smart Cities Market Outlook

8.1. Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Smart Utilities      

8.2.2.    By Smart Governance

8.2.3.    By Smart Transportation

8.2.4.    By Smart Citizens Service

8.2.5.    By Country

8.3. North America: Country Analysis

8.3.1.    United States Smart Cities Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Smart Utilities

8.3.1.2.2.           By Smart Governance

8.3.1.2.3.           By Smart Transportation

8.3.1.2.4.           By Smart Citizens Service

8.3.2.    Canada Smart Cities Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Smart Utilities

8.3.2.2.2.           By Smart Governance

8.3.2.2.3.           By Smart Transportation

8.3.2.2.4.           By Smart Citizens Service

8.3.3.    Mexico Smart Cities Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Smart Utilities

8.3.3.2.2.           By Smart Governance

8.3.3.2.3.           By Smart Transportation

8.3.3.2.4.           By Smart Citizens Service

9.    Europe Smart Cities Market Outlook

9.1. Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Smart Utilities      

9.2.2.    By Smart Governance 

9.2.3.    By Smart Transportation

9.2.4.    By Smart Citizens Service

9.2.5.    By Country

9.3. Europe: Country Analysis

9.3.1.    Germany Smart Cities Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Smart Utilities

9.3.1.2.2.           By Smart Governance

9.3.1.2.3.           By Smart Transportation

9.3.1.2.4.           By Smart Citizens Service

9.3.2.    United Kingdom Smart Cities Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Smart Utilities

9.3.2.2.2.           By Smart Governance

9.3.2.2.3.           By Smart Transportation

9.3.2.2.4.           By Smart Citizens Service

9.3.3.    France Smart Cities Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Smart Utilities

9.3.3.2.2.           By Smart Governance

9.3.3.2.3.           By Smart Transportation

9.3.3.2.4.           By Smart Citizens Service

9.3.4.    Spain Smart Cities Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Smart Utilities

9.3.4.2.2.           By Smart Governance

9.3.4.2.3.           By Smart Transportation

9.3.4.2.4.           By Smart Citizens Service

9.3.5.    Italy Smart Cities Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Smart Utilities

9.3.5.2.2.           By Smart Governance

9.3.5.2.3.           By Smart Transportation

9.3.5.2.4.           By Smart Citizens Service

10. Middle East & Africa Smart Cities Market Outlook

10.1.  Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Smart Utilities      

10.2.2. By Smart Governance

10.2.3. By Smart Transportation

10.2.4. By Smart Citizens Service

10.2.5. By Country

10.3.  Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Smart Cities Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Smart Utilities

10.3.1.2.2.         By Smart Governance

10.3.1.2.3.         By Smart Transportation

10.3.1.2.4.         By Smart Citizens Service

10.3.2. UAE Smart Cities Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Smart Utilities

10.3.2.2.2.         By Smart Governance

10.3.2.2.3.         By Smart Transportation

10.3.2.2.4.         By Smart Citizens Service

10.3.3. South Africa Smart Cities Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Smart Utilities

10.3.3.2.2.         By Smart Governance

10.3.3.2.3.         By Smart Transportation

10.3.3.2.4.         By Smart Citizens Service

11. South America Smart Cities Market Outlook

11.1.  Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Smart Utilities

11.2.2. By Smart Governance 

11.2.3. By Smart Transportation

11.2.4. By Smart Citizens Service

11.2.5. By Country

11.3.  South America: Country Analysis

11.3.1. Brazil Smart Cities Market Outlook

11.3.1.1.     Market Size & Forecast

11.3.1.1.1.         By Value

11.3.1.2.     Market Share & Forecast

11.3.1.2.1.         By Smart Utilities

11.3.1.2.2.         By Smart Governance

11.3.1.2.3.         By Smart Transportation

11.3.1.2.4.         By Smart Citizens Service

11.3.2. Argentina Smart Cities Market Outlook

11.3.2.1.     Market Size & Forecast

11.3.2.1.1.         By Value

11.3.2.2.     Market Share & Forecast

11.3.2.2.1.         By Smart Utilities

11.3.2.2.2.         By Smart Governance

11.3.2.2.3.         By Smart Transportation

11.3.2.2.4.         By Smart Citizens Service

11.3.3. Colombia Smart Cities Market Outlook

11.3.3.1.