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Global Smart Cities Market Size, Share, Analysis, Forecast: By Component: Services, Hardware, Software; By Solution: Smart Transportation, Smart Building, Smart Utilities, Smart Public Safety, Smart Healthcare, Smart Security, Smart Education, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Smart Cities Market Size

The global smart cities market size reached approximately USD 1.14 trillion in 2023. The market is assessed to grow at a CAGR of 15.3% between 2024 and 2032 to attain a value of around USD 4.14 trillion by 2032.

Key Trends in the Market

Smart cities, variously known as intelligent cities, are urban regions that deploy information and communication technologies to optimise various functions and improve the efficiency and quality of life of residents. The aim of smart cities is to reduce waste and inconvenience, improve socio-economic growth and policy efficiency, and instantaneously solve various issues impacting the quality of life of city dwellers.

The smart cities market expansion is being aided by the exploding urban population and growing concerns regarding urban management. In addition to this, governments are introducing various initiatives to reduce greenhouse gas emissions in cities, improve economic development, and reduce costs of services like transportation and waste management. Such factors are bolstering the adoption of smart city solutions to make the urban environment clean, safe, and comfortable.

Advancements in 5G infrastructure and the development of sophisticated and advanced IoT devices are positively influencing the smart cities market growth. Such technologies can efficiently collect data, automate various systems like waste management, traffic, and energy uses, and reduce overall operational costs while offering valuable insights into asset management and services.

Moreover, the increasing deployment of technologies like artificial intelligence (AI) and machine learning (ML), among others, to optimise, track, and analyse energy utilisation, enhance automation of various operations, and improve waste management is anticipated to propel the smart cities market demand in the forecast period.

Smart cities can enhance the inclusivity of urban areas while improving infrastructure, creating attractive job opportunities, and surging the efficiency of urban operations and services. Moreover, the implementation of solutions and eco-friendly projects like smart grids and smart water management is anticipated to reduce carbon footprints, drive energy efficiency, improve air quality, and combat ecological and economic challenges. Hence, the growing emphasis on sustainability and social equity in urban development is one of the major smart cities market trends.

Smart Cities Market Report Snapshots

Smart Cities Market Size

Smart Cities Market Analysis

Smart Cities Market Share

Smart Cities Companies

*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.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Market Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Smart Cities Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Smart Cities Historical Market (2018-2023)
   8.3   Global Smart Cities Market Forecast (2024-2032)
   8.4   Global Smart Cities Market by Component
       8.4.1   Services
           8.4.1.1   Historical Trend (2018-2023)
           8.4.1.2   Forecast Trend (2024-2032)
       8.4.2   Hardware
           8.4.2.1   Historical Trend (2018-2023)
           8.4.2.2   Forecast Trend (2024-2032)
       8.4.3   Software
           8.4.3.1   Historical Trend (2018-2023)
           8.4.3.2   Forecast Trend (2024-2032)
   8.5   Global Smart Cities Market by Solution
       8.5.1   Smart Transportation
           8.5.1.1   Historical Trend (2018-2023)
           8.5.1.2   Forecast Trend (2024-2032)
           8.5.1.3   Breakup by Type
               8.5.1.3.1   Smart Ticketing
               8.5.1.3.2   Traffic Management System
               8.5.1.3.3   Passenger Information Management System
               8.5.1.3.4   Freight Information System
               8.5.1.3.5   Connected Vehicles
               8.5.1.3.6   Others
       8.5.2   Smart Building
           8.5.2.1   Historical Trend (2018-2023)
           8.5.2.2   Forecast Trend (2024-2032)
           8.5.2.3   Breakup by Type
               8.5.2.3.1   Building Energy Optimization
               8.5.2.3.2   Emergency Management System
               8.5.2.3.3   Parking Management System
               8.5.2.3.4   Others
       8.5.3   Smart Utilities
           8.5.3.1   Historical Trend (2018-2023)
           8.5.3.2   Forecast Trend (2024-2032)
           8.5.3.3   Breakup by Type
               8.5.3.3.1   Advanced Metering Infrastructure
               8.5.3.3.2   Distribution Management System
               8.5.3.3.3   Substation Automation
               8.5.3.3.4   Others
       8.5.4   Smart Public Safety
           8.5.4.1   Historical Trend (2018-2023)
           8.5.4.2   Forecast Trend (2024-2032)
       8.5.5   Smart Healthcare
           8.5.5.1   Historical Trend (2018-2023)
           8.5.5.2   Forecast Trend (2024-2032)
       8.5.6   Smart Security
           8.5.6.1   Historical Trend (2018-2023)
           8.5.6.2   Forecast Trend (2024-2032)
       8.5.7   Smart Education
           8.5.7.1   Historical Trend (2018-2023)
           8.5.7.2   Forecast Trend (2024-2032)
       8.5.8   Others
   8.6   Global Smart Cities Market by Region
       8.6.1   North America
           8.6.1.1   Historical Trend (2018-2023)
           8.6.1.2   Forecast Trend (2024-2032)
       8.6.2   Europe
           8.6.2.1   Historical Trend (2018-2023)
           8.6.2.2   Forecast Trend (2024-2032)
       8.6.3   Asia Pacific
           8.6.3.1   Historical Trend (2018-2023)
           8.6.3.2   Forecast Trend (2024-2032)
       8.6.4   Latin America
           8.6.4.1   Historical Trend (2018-2023)
           8.6.4.2   Forecast Trend (2024-2032)
       8.6.5   Middle East and Africa
           8.6.5.1   Historical Trend (2018-2023)
           8.6.5.2   Forecast Trend (2024-2032)
9   North America Smart Cities Market Analysis
   9.1   United States of America
       9.1.1   Historical Trend (2018-2023)
       9.1.2   Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1   Historical Trend (2018-2023)
       9.2.2   Forecast Trend (2024-2032)
10   Europe Smart Cities Market Analysis
   10.1   United Kingdom
       10.1.1   Historical Trend (2018-2023)
       10.1.2   Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1   Historical Trend (2018-2023)
       10.2.2   Forecast Trend (2024-2032)
   10.3   France
       10.3.1   Historical Trend (2018-2023)
       10.3.2   Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1   Historical Trend (2018-2023)
       10.4.2   Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific Smart Cities Market Analysis
   11.1   China
       11.1.1   Historical Trend (2018-2023)
       11.1.2   Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1   Historical Trend (2018-2023)
       11.2.2   Forecast Trend (2024-2032)
   11.3   India
       11.3.1   Historical Trend (2018-2023)
       11.3.2   Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1   Historical Trend (2018-2023)
       11.4.2   Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1   Historical Trend (2018-2023)
       11.5.2   Forecast Trend (2024-2032)
   11.6   Others
12   Latin America Smart Cities Market Analysis
   12.1   Brazil
       12.1.1   Historical Trend (2018-2023)
       12.1.2   Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1   Historical Trend (2018-2023)
       12.2.2   Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1   Historical Trend (2018-2023)
       12.3.2   Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa Smart Cities Market Analysis
   13.1   Saudi Arabia
       13.1.1   Historical Trend (2018-2023)
       13.1.2   Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1   Historical Trend (2018-2023)
       13.2.2   Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1   Historical Trend (2018-2023)
       13.3.2   Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1   Historical Trend (2018-2023)
       13.4.2   Forecast Trend (2024-2032)
   13.5   Others
14   Market Dynamics
   14.1   SWOT Analysis
       14.1.1   Strengths
       14.1.2   Weaknesses
       14.1.3   Opportunities
       14.1.4   Threats
   14.2   Porter’s Five Forces Analysis
       14.2.1   Supplier’s Power
       14.2.2   Buyer’s Power
       14.2.3   Threat of New Entrants
       14.2.4   Degree of Rivalry
       14.2.5   Threat of Substitutes
   14.3   Key Indicators for Demand
   14.4   Key Indicators for Price
15   Competitive Landscape
   15.1   Market Structure
   15.2   Company Profiles
       15.2.1   Cisco Systems, Inc.
           15.2.1.1   Company Overview
           15.2.1.2   Product Portfolio
           15.2.1.3   Demographic Reach and Achievements
           15.2.1.4   Certifications
       15.2.2   ABB Limited
           15.2.2.1   Company Overview
           15.2.2.2   Product Portfolio
           15.2.2.3   Demographic Reach and Achievements
           15.2.2.4   Certifications
       15.2.3   Siemens AG
           15.2.3.1   Company Overview
           15.2.3.2   Product Portfolio
           15.2.3.3   Demographic Reach and Achievements
           15.2.3.4   Certifications
       15.2.4   Honeywell International Inc.
           15.2.4.1   Company Overview
           15.2.4.2   Product Portfolio
           15.2.4.3   Demographic Reach and Achievements
           15.2.4.4   Certifications
       15.2.5   Huawei Technologies Co. Ltd.
           15.2.5.1   Company Overview
           15.2.5.2   Product Portfolio
           15.2.5.3   Demographic Reach and Achievements
           15.2.5.4   Certifications
       15.2.6   Microsoft Corporation
           15.2.6.1   Company Overview
           15.2.6.2   Product Portfolio
           15.2.6.3   Demographic Reach and Achievements
           15.2.6.4   Certifications
       15.2.7   IBM Corporation
           15.2.7.1   Company Overview
           15.2.7.2   Product Portfolio
           15.2.7.3   Demographic Reach and Achievements
           15.2.7.4   Certifications
       15.2.8   Oracle Corporation
           15.2.8.1   Company Overview
           15.2.8.2   Product Portfolio
           15.2.8.3   Demographic Reach and Achievements
           15.2.8.4   Certifications
       15.2.9   Schneider Electric SE
           15.2.9.1   Company Overview
           15.2.9.2   Product Portfolio
           15.2.9.3   Demographic Reach and Achievements
           15.2.9.4   Certifications
       15.2.10   Hitachi Ltd.
           15.2.10.1   Company Overview
           15.2.10.2   Product Portfolio
           15.2.10.3   Demographic Reach and Achievements
           15.2.10.4   Certifications
       15.2.11   Intel Corporation
           15.2.11.1   Company Overview
           15.2.11.2   Product Portfolio
           15.2.11.3   Demographic Reach and Achievements
           15.2.11.4   Certifications
       15.2.12   AT&T Communications, LLC
           15.2.12.1   Company Overview
           15.2.12.2   Product Portfolio
           15.2.12.3   Demographic Reach and Achievements
           15.2.12.4   Certifications
       15.2.13   Nokia Corporation
           15.2.13.1   Company Overview
           15.2.13.2   Product Portfolio
           15.2.13.3   Demographic Reach and Achievements
           15.2.13.4   Certifications
       15.2.14   Koninklijke Philips NV
           15.2.14.1   Company Overview
           15.2.14.2   Product Portfolio
           15.2.14.3   Demographic Reach and Achievements
           15.2.14.4   Certifications
       15.2.15   Verizon Communications Inc.
           15.2.15.1   Company Overview
           15.2.15.2   Product Portfolio
           15.2.15.3   Demographic Reach and Achievements
           15.2.15.4   Certifications
       15.2.16   Others
16   Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global Smart Cities Market: Key Industry Highlights, 2018 and 2032
2.   Global Smart Cities Historical Market: Breakup by Component (USD Trillion), 2018-2023
3.   Global Smart Cities Market Forecast: Breakup by Component (USD Trillion), 2024-2032
4.   Global Smart Cities Historical Market: Breakup by Solution (USD Trillion), 2018-2023
5.   Global Smart Cities Market Forecast: Breakup by Solution (USD Trillion), 2024-2032
6.   Global Smart Cities Historical Market: Breakup by Region (USD Trillion), 2018-2023
7.   Global Smart Cities Market Forecast: Breakup by Region (USD Trillion), 2024-2032
8.   North America Smart Cities Historical Market: Breakup by Country (USD Trillion), 2018-2023
9.   North America Smart Cities Market Forecast: Breakup by Country (USD Trillion), 2024-2032
10.   Europe Smart Cities Historical Market: Breakup by Country (USD Trillion), 2018-2023
11.   Europe Smart Cities Market Forecast: Breakup by Country (USD Trillion), 2024-2032
12.   Asia Pacific Smart Cities Historical Market: Breakup by Country (USD Trillion), 2018-2023
13.   Asia Pacific Smart Cities Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14.   Latin America Smart Cities Historical Market: Breakup by Country (USD Trillion), 2018-2023
15.   Latin America Smart Cities Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16.   Middle East and Africa Smart Cities Historical Market: Breakup by Country (USD Trillion), 2018-2023
17.   Middle East and Africa Smart Cities Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18.   Global Smart Cities Market Structure

Key Questions Answered in the Report

What was the global smart cities market value in 2023?

In 2023, the market attained a value of nearly USD 1.14 trillion.

What is the growth rate of the smart cities market?

The market is assessed to grow at a CAGR of 15.3% between 2024 and 2032.

What is the forecast outlook of the smart cities market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 4.14 trillion by 2032.

What are the major market drivers?

The major market drivers the growing implementation of smart transportation solutions and the rising urbanisation.

What are the key trends of the market?

The growing trend of sustainability, advancements in technologies and 5G infrastructure, and surging attempts to enhance social equity in cities are the key trends aiding the market growth.

What are the major regional markets of smart cities, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the significant components of smart cities?

The significant components of smart cities are services, hardware, and software.

Who are the key players, according to the smart cities market report?

The major players in the market are Cisco Systems, Inc., ABB Limited, Siemens AG, Honeywell International Inc., Huawei Technologies Co. Ltd., Microsoft Corporation, IBM Corporation, Oracle Corporation, Schneider Electric SE, Hitachi Ltd., Intel Corporation, AT&T Communications, LLC, Nokia Corporation, Koninklijke Philips NV, and Verizon Communications Inc., among others.

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