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UAE Smart Cities Market (2023-2029) | 6Wresearch

12-12-2023 12:47 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: 6wresearch

UAE Smart Cities Market Synopsis
UAE smart cities market was growing rapidly in the past due to the government's strong focus on the economic diversification of emirates, under this, in 2013, the Smart Dubai project was initiated which contained more than 100 initiatives to make Dubai a truly smart city by 2030. the project encompassed smart infrastructure, smart governance and smart mobility technologies. Under this plan UAE invested in digital infrastructure such as 5G and digitizing the government operations through technologies like mPay, DubaiNow and Smart NoI card. Consequently, Dubai became the world's first paperless city in 2021 and scored a rank of 29 in the top 118 smart cities globally. Further, a strong recovery in 2021 in the market after experiencing a setback of 6.6% during the COVID-19 outbreak shows resilience in the smart cities market of the country due to the government's strong support and technological vision.

According to 6Wresearch, the UAE Smart Cities market size is anticipated to grow at a CAGR of 16.5% during 2023-2029F. The UAE's smart city industry is set to experience continued growth in the upcoming years, primarily due to the government's persistent initiatives and investments in sustainable economic diversification. The country's consistent adoption and integration of advanced technologies such as artificial intelligence, Internet of Things (IoT), and blockchain are expected to further drive the development of smart cities. Emphasizing sustainability and environmental conservation, the UAE's focus on smart solutions promoting energy efficiency, waste management, and sustainable urban planning would play a pivotal role. With rapid urbanization, a growing population, and a rising demand for efficient infrastructure and public services, smart city solutions are anticipated to address these challenges, fostering the expansion of the smart city market. Furthermore, the UAE's emphasis on fostering innovation and entrepreneurship, along with its open approach to international collaboration and investment, would contribute significantly to the growth of the smart city sector in the country.

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Market by Components
In the Middle East smart cities landscape, hardware has been dominating the Smart Cities Market in UAE and the trend will continue in future as well on account of the Middle East's burgeoning new constructions under different smart city initiatives. Hardware serves as a fundamental component for further integration of software and automation solutions. Hence, the execution of smart city projects in Middle Eastern countries is driving the market for Hardware.

Key Highlights of the Report
UAE Smart Cities Market Overview
UAE Smart Cities Market Outlook
UAE Smart Cities Market Forecast
UAE Smart Cities Market Pestel Analysis
Middle East Smart Market Overview
Historical Data and Forecast of UAE Smart Cities Market Revenues, for the Period 2019-2029F
Market Drivers and Restraints
Historical Market Data and Forecast of Revenues, By Components, for the Period 2019-2029F
Historical Market Data and Forecast of Revenues, By Applications, for the Period 2019-2029F
Smart Cities Outlook
Key Performance Indicators
Market Opportunity Assessment
Competitive Benchmarking
Company Profiles
Key Strategic Recommendations

6Wresearch is the premier, one-stop market intelligence and advisory center, known for its best-in-class business research and consulting activity. We provide industry research reports and consulting services across different industries and geographies which provide industry players an in-depth coverage and help them in decision-making before investing or entering into a particular geography.

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