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Smart Cities Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Global Smart Cities Market- (By Technology – Artificial Intelligence (AI), Big Data Analytics, Cellular Technology, and Others; By Component – Hardware, Software and Services, By Application – Smart Transportation, Smart Utilities, Smart Governance, and Others; By Deployment – Cloud and On-premises; and By Region) - Industry Dynamics, Market Size and Opportunity Forecast, 2030

  • Published On: 02-Feb-2022  |  Format: pdfpowerpointexcel  |  Report ID: AA0222132
    Delivery: 2 to 4 Hours
INFOGRAPHIC:
Smart Cities Market

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REPORT SCOPE

Report AttributeDetails
Market Size Value in 2021US$ 1,25,325.5 Mn
Expected Revenue in 2030US$ 6,70,424.1 Mn
Historic Data2017-2020
Base Year2021
Forecast Period2022-2030
UnitValue (USD Mn)
CAGR20.5%
Segments coveredBy Technology, Component, Application, Deployment,  and Region
Key CompaniesABB Limited, Accenture Plc, Alphabet Inc., Cisco Systems Inc., Oracle Corporation,  and other prominent players.
Customization ScopeGet your customized report as per your preference. Ask for customization

FREQUENTLY ASKED QUESTIONS

A smart city is a technologically modern urban area that uses different types of electronic methods, voice activation methods and sensors to collect specific data and improve the quality of government services as well as citizen welfare. 

Data collected from citizens, devices, buildings and assets is processed and analyzed to monitor and manage traffic and transportation systems, power plants, utilities, water supply networks, waste, crime detection, information systems, schools, libraries, hospitals, and other community services.

The Global Smart Cities Market was valued at US$ 1,25,325.5 Mn in 2021.

The Global Smart Cities Market is estimated to witness a CAGR of 20.5% during the forecast period.

The different segments of the Global Smart Cities Market are based on technology, component, application deployment, and region. 

Factors such as rising need for public safety and communication infrastructure, increasing number of government initiatives and PPP models for smart cities are driving the growth in smart cities market.

Privacy and security concerns over Internet of Things (IoT) acts as a hindrance in the growth of the global smart cities market.

Increasing environmental concerns and demand for green initiatives are the emerging opportunities in the Global Smart Cities Market.

Due to the faster speed and more reliable connections provided by 5G, smart cities will reap its benefits by being able to offer smarter vehicles, smart processing, and manufacturing. 

IoT segment leads the Global Smart Cities Market in 2021. 

Smart citizen services has the highest share in the Global Smart Cities Market in 2021.

Asia Pacific is expected to dominate the Global Smart Cities Market during the forecast period.

The key players in the global smart cities market are Cisco Systems, IBM Corporation, Microsoft Corporation, and GE Company among others.