Press release
Canada Smart Cities Market Booming Worldwide with Latest Trend and Future Scope by 2030
The Canada Smart Cities Market is Expected to Grow at a Significant Growth Rate, and the Forecast Period is 2023-2030, Considering the Base Year as 2022.
The Canada Smart Cities Market is a dynamic landscape focused on the implementation of innovative technologies and solutions to enhance the efficiency, sustainability, and quality of life in urban areas across the country. Smart cities leverage data, connectivity, and digital infrastructure to improve various aspects of urban living, including transportation, energy management, healthcare, public services, and citizen engagement.
Canada, with its technologically advanced and urbanized population, has been actively investing in smart city initiatives to address urban challenges and create more livable and resilient communities. The Canada Smart Cities Market encompasses a wide range of sectors, including smart mobility, energy management, urban planning, and digital governance.
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Top Key Players Covered in The Canada Smart Cities Market
ABB Limited (Switzerland), Ericsson (Sweden), GE (USA), Hitachi (Japan), IBM (USA), Intel (USA), Microsoft (USA), Oracle (USA), Google LLC (US), Cisco (US), Panasonic (Japan), Siemens (Germany), Smart City Systems (Canada), Thales (France), Verizon (USA), Waterloo Innovation Centre (Canada), Wipro (India), Clevest Solutions Inc (Canada), Ecopia Tech Corporation (Canada), and Other Major Players
Market Dynamics:
Driver:
Urbanization and Population Growth: As Canada's population continues to migrate to urban centers, cities are facing challenges related to congestion, pollution, and resource management. Smart city solutions offer a way to optimize infrastructure and resources to accommodate the growing population. Both federal and provincial governments in Canada have been supporting smart city initiatives through funding programs and policy frameworks. These initiatives encourage collaboration between governments, industries, and academia to drive the adoption of smart technologies.
Opportunities:
Smart Mobility Solutions: There is a significant opportunity for the implementation of smart mobility solutions in Canadian cities. Intelligent transportation systems, electric vehicle charging infrastructure, and smart traffic management can improve traffic flow, reduce congestion, and promote sustainable transportation options. Canada's commitment to reducing carbon emissions creates a market opportunity for smart energy management and the integration of renewable energy sources. Smart grids, energy-efficient buildings, and demand-response programs can contribute to a more sustainable energy landscape. In conclusion, the Canada Smart Cities Market is driven by urbanization, government support, sustainability goals, and technological advancements. Companies and stakeholders in this market can capitalize on opportunities in smart mobility, energy efficiency, digital healthcare, urban planning, and data governance to foster growth and contribute to the development of smarter, more resilient cities across Canada.
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Segmentation Analysis of The Canada Smart Cities Market
Canada Smart Cities market segments cover the Solution and Service, Component, Level, and End-user. By Solution and Service, the Smart Building segment is Anticipated to Dominate the Market Over the Forecast Period.
Canada's commitment to sustainability presents a significant opportunity for the Canada Smart Cities market. The demand for smart solutions focused on environmental protection and reducing carbon dioxide emissions is increasing, which promotes a sustainable infrastructure and energy economy.Smart city technology can optimize energy consumption, improve energy efficiency and integrate renewable energy sources in city systems. For example, smart grids can monitor and adjust energy distribution based on real-time demand, reduce waste, and promote clean energy.In addition, energy-efficient buildings and smart lighting systems can minimize energy consumption and reduce greenhouse gas emissions. Smart transport solutions, such as electric vehicle charging infrastructure and intelligent traffic management systems, reduce the carbon footprint and improve air quality.
By Solution and Service
• Smart Mobility Management
• Smart Public Safety
• Smart Healthcare
• Smart Building
• Smart Utilities
• Others
By Component
• Hardware
• Software
• Service
By Level
• Emerging Smart Cities
• Developing Smart Cities
• Mature Smart Cities
By End-user
• Government & Municipalities
• Transportation & Logistics
• Energy & Utilities
• Healthcare
• Education
• Others
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Country Analysis of The Canada Smart Cities Market
Ontario is Expected to Dominate the Market Over the Forecast Period.
Ontario stands out as the dominant province in Canada's smart city market, housing major Canada Smart Cities like Toronto, Ottawa, and Waterloo. These cities are making substantial investments in smart city technologies, particularly in areas such as smart transportation, energy, and water management.
The growth potential for Ontario's smart city market is considerable due to several favorable factors. Its large population of over 14 million provides a substantial market for smart city solutions. Additionally, the province's strong economy, boasting a GDP of over $1 trillion, enables significant resources to be allocated for smart city initiatives.Moreover, the Ontario government actively supports the development of Canada Smart Cities, evident through various initiatives, including the Canada Smart Cities Challenge. This supportive stance from the government encourages further advancements in smart city technologies and their integration into urban planning and development.
While other provinces, such as British Columbia, Quebec, and Alberta, are also investing in smart city technologies, Ontario's combination of a large population, robust economy, and favorable government support establishes it as the primary leader in the smart city market across Canada.
Key Industry Developments in the Canada Smart Cities Market
In March 2023, Wipro Limited, a leading technology services and consulting company, announced the launch of its "5G Def-i" platform. The integrated platform - which empowers businesses to seamlessly transform their infrastructure, networks, and services -debuted during the MWC Barcelona panel "Realizing the Ambitions of the Connected Enterprise."
In April 2023, Ericsson continued to drive the Open RAN and Cloud RAN ecosystem forward, adding Dell Technologies as a Cloud RAN infrastructure collaborator. Expanding the ecosystem with new collaborators and technologies is one of the key drivers in Open RAN and Cloud RAN architectures. Ericsson is partnering with Dell as a supplier of Dell PowerEdge servers for its Cloud RAN offering.
What makes the information worth buying?
• A comprehensive and in-depth overview of the global Canada Smart Cities industry in exchange, use, and geographical area sectors is provided.
• This research looks at the industry rewards and constraints that influence industry growth.
• Developing business strategies and aspects to aid in an emerging market.
• Examining free markets and developing appropriate strategies.
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