Smart Cities Market worth $1,524.27 billion by 2030, growing at a CAGR of 14.40% - Exclusive Report by 360iResearch

The "Smart Cities Market by Component (Services, Solutions), Deployment Area (Commercial, Industrial, Residential) - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Smart Cities Market to grow from USD 594.36 billion in 2023 to USD 1,524.27 billion by 2030, at a CAGR of 14.40%.

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Smart cities embody the convergence of technology, government, and society, aiming to enhance the quality of urban living. Smart cities aspire to optimize city operations, improve governmental services, and foster sustainability using Internet of Things (IoT) devices, big data analytics, AI, and other digital technologies. Smart cities aim to create a responsive, adaptive, and connected city environment that empowers its residents and stakeholders, ensuring a higher quality of life, efficiency in public services, and sustainable urban development. The increasing urban population primarily drives the smart cities market, the rising adoption of green technology, and governments' focus on digitalization and sustainable development. The advancements in AI, IoT, and big data analytics, coupled with increasing awareness about environmental issues, also fuel the growth of smart cities globally. However, high initial investments and privacy and security concerns pose significant challenges to the growth of the smart cities market. moreover, increasing emphasis on sustainable urban development and government initiatives worldwide present substantial opportunities for expanding the smart cities market.

In the Americas, the smart cities market is significantly growing in the United States and Canada, strongly focusing on integrating Internet of Things (IoT) technologies to enhance public services and urban infrastructure. The key investment areas include smart grid technologies, intelligent transportation systems, and sustainable urban development projects. Latin American countries also embrace smart city solutions, primarily aimed at improving safety and transportation, with Brazil and Mexico leading in adoption. The Asia-Pacific region is witnessing explosive growth in smart city projects, driven by massive urbanization rates and technological innovation. Countries such as China, Japan, South Korea, and Singapore lead the charge, implementing innovative solutions in smart transportation, energy management, and digital governance. The smart cities market in the Asia-Pacific region is characterized by significant government investment and collaboration between public and private sectors. Europe strongly emphasizes sustainability, citizen participation, and innovation in the EMEA region. The European Union's support for smart city development is evident through numerous funding programs and research initiatives. The Middle East, particularly the Gulf Cooperation Council (GCC) countries, is focusing on building smart cities from the ground up, leveraging wealth from oil and gas to invest in futuristic urban environments. The participation of the African region in the smart cities trend is emerging, with South Africa, Kenya, and Nigeria leading in urban technology implementations despite facing challenges such as limited infrastructure and investment.

Market Segmentation & Coverage:

This research report categorizes the Smart Cities Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Services and Solutions. The Services is further studied across Consulting, Deployment & Integration, and Infrastructure Monitoring & Management. The Solutions is further studied across Building, Citizen Services, Transportation, and Utilities. The Building is further studied across Building Infrastructure Management, Energy Management, Network Management, and Safety & Security Management. The Building Infrastructure Management is further studied across Elevator & Escalators Management and Smart Water Management. The Safety & Security Management is further studied across Access Control System, Entrance Control System, and Video Surveillance System. The Citizen Services is further studied across E-governance, Smart Education, Smart Healthcare, and Smart Public Safety. The Transportation is further studied across Connected Logistics, Passenger Information Management, Smart Ticketing System, Traffic & Parking Management System, and Traffic Surveillance. The Utilities is further studied across Distribution Management System, Smart Meter Infrastructure, and Substation Automation. The Services is projected to witness significant market share during forecast period.

Based on Deployment Area, market is studied across Commercial, Industrial, and Residential. The Industrial is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 35.57% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Smart Cities Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Smart Cities Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Smart Cities Market, highlighting leading vendors and their innovative profiles. These include Akeptus LLC, bee smart city GmbH, Bosch GmbH, Cisco Systems, Inc., Cleverciti Systems GmbH, Confidex by Beontag, Dell Technologies Inc., Fujitsu Limited, Geeny by Telefónica, HCL Technologies Limited, Hitachi Ltd., Honeywell International Incorporated, Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, KaaIoT Technologies, LLC, Microsoft Corporation, NEC Corporation, Oracle Corporation, SAP SE, Schneider Electric SE, SICE TYS Group, Siemens AG, Sierra Wireless S.A. by Semtech Corporation, Smarter City Solutions, Telefonaktiebolaget LM Ericsson, Verizon Communications Inc, and Wipro Limited.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Smart Cities Market, by Component
7. Smart Cities Market, by Deployment Area
8. Americas Smart Cities Market
9. Asia-Pacific Smart Cities Market
10. Europe, Middle East & Africa Smart Cities Market
11. Competitive Landscape
12. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Smart Cities Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Smart Cities Market?
3. What is the competitive strategic window for opportunities in the Smart Cities Market?
4. What are the technology trends and regulatory frameworks in the Smart Cities Market?
5. What is the market share of the leading vendors in the Smart Cities Market?
6. What modes and strategic moves are considered suitable for entering the Smart Cities Market?

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