The global IoT in smart cities market size reached a value of approximately USD 216.04 Billion in 2025. The market is expected to grow at a CAGR of 18.40% between 2026 and 2035, reaching a value of USD 1169.64 Billion by 2035.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
18.4%
Value in USD Billion
2026-2035
*this image is indicative*
| Global IoT in Smart Cities Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 216.04 |
| Market Size 2035 | USD Billion | 1169.64 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 18.40% |
| CAGR 2026-2035 - Market by Region | Latin America | 19.1% |
| CAGR 2026-2035 - Market by Country | UK | 19.3% |
| CAGR 2026-2035 - Market by Country | China | 18.9% |
| CAGR 2026-2035 - Market by Component | Services | 19.6% |
| CAGR 2026-2035 - Market by Deployment Model | Cloud | 20.2% |
| Market Share by Country 2025 | UK | 4.9% |
The Internet of Things (IoT) is a term that describes a network of objects that are connected into a through various sensors and software for centralised management and operations. IoT in smart cities refers to the use of IoT technology and devices in smart city applications, such as infrastructure, healthcare, energy, transportation, governance, and environmental monitoring.
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The EMR’s report titled “IoT in Smart Cities Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
Market Breakup by Deployment Model
Market Breakup by Application
Market Breakup by Region
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The solution segment accounts for a significant share of the IoT in smart cities market by component due to the wide range of affordable and user-friendly solutions available. Depending upon the priority needs and preferences of buyers, specific solutions can be incorporated, ranging from location analytics and remote monitoring to data management and security management. Reporting and analytics solutions is commonly used as it provides data-based analysis that can be used to make date-based decisions. Meanwhile, the services segment, by component, is expected to witness steady growth in the coming years, fuelled by the preference of end users to fully outsource IoT applications.
North America accounted for a sizable share of the global IoT in smart cities market and is expected to continue to do so in the forecast period. Due to the presence of stable and established economies and high levels of technology penetration, the region is more likely to adopt IoT-based products and services. Several new smart cities are under planning and development in countries such as the United States and Canada, while selected cities have been identified for upgrades to a smart format by incorporating new technologies. The rising demand for IoT in new and existing cities is expected to bolster the market in North America in the coming years.
| CAGR 2026-2035 - Market by | Country |
| UK | 19.3% |
| China | 18.9% |
| Mexico | 18.7% |
| USA | 18.6% |
| Germany | 17.4% |
| Canada | XX% |
| France | XX% |
| Italy | XX% |
| Japan | XX% |
| India | XX% |
| Australia | XX% |
| Saudi Arabia | 17.2% |
| Brazil | XX% |
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global IoT in smart cities market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
Cisco Systems Inc. is a multinational corporation that specialises in networking hardware, software, telecommunications gear, and other high-tech services and products. Founded in 1984 with headquarters in California, United States, this company creates, produces, and sells networking equipment and services based on Internet Protocol.
Huawei Technologies Co., Ltd., headquartered in Shenzhen, China, and established in 1987, offers telecommunications and networking products. The company develops servers, security, storage, and other networking solutions in addition to internet access and transmission networks. Additional services of Huawei Technologies include business consultancy, network integration, managed services, and international delivery.
Nokia Corporation, founded in 1865, is a communications and information technology company based in Espoo, Finland. The company specialises in network infrastructure and cutting-edge technologies, offering services for 5G, IoT, IP routing, fixed networks, subscriber data management, mobile phones, Wi-Fi systems, and network construction and modernization.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other market players include Microsoft Corporation, ScienceSoft USA Corporation, Avnet, Inc., Thales Group, and Intel Corporation, among others.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2025, the global market for IoT in smart cities attained a value of approximately USD 216.04 Billion.
The market is projected to grow at a CAGR of 18.40% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035, reaching USD 1169.64 Billion by 2035.
The major drivers of the market include the growing development of smart city projects, advances in IoT technologies, and increasing importance of energy efficient living.
Increasing partnerships between countries and private companies, emergence of 5G technology, and rising adoption of smart home technologies are the key trends propelling the growth of the market.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The various applications of IoT in smart cities are smart healthcare, smart infrastructure, smart energy, smart transportation public safety, smart building, environmental monitoring, and smart governance, among others.
The major players in the IoT in smart cities market,according to the report , are Cisco Systems Inc., Huawei Technologies Co., Ltd., Nokia Corporation, Microsoft Corporation, ScienceSoft USA Corporation, Avnet, Inc., Thales Group, and Intel Corporation, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Component |
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| Breakup by Deployment Model |
|
| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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