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Smart City Market worth $825.21 billion by 2030, growing at a CAGR of 9.87% - Exclusive Report by 360iResearch
Smart City Market | 360iResearch
The Global Smart City Market to grow from USD 426.95 billion in 2023 to USD 825.21 billion by 2030, at a CAGR of 9.87%.
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The smart city market comprises the sale of technologies, solutions, and platforms that contribute to the development of intelligent urban infrastructure. These technologies facilitate optimized resource management, improved service delivery, and enhanced citizen engagement through interconnected devices, data analytics, and innovative connectivity solutions. The applications of smart city solutions span various city operations, including transportation, energy management, water and waste management, public safety, and urban mobility. The end users are municipal governments and public-private partnerships aiming to increase the efficiency, sustainability, and quality of life within urban environments. The factors contributing to the growth of the smart city market include rapid urbanization, the need for efficient infrastructure management, advancements in IoT, and the rising concern for environmental sustainability. Government initiatives and investment in smart infrastructure are also critical drivers of market expansion. However, the progression of the smart city market is hampered by a variety of factors, such as high initial investments and funding constraints, data privacy and security concerns, and complexities in integrating legacy systems with new technologies. Furthermore, leveraging artificial intelligence and 5G technology in smart city solutions can significantly improve decision-making and predictive maintenance and enhance data transmission speeds and resource distribution.
Market Segmentation & Coverage:
This research report categorizes the Smart City Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Module, market is studied across Smart Buildings, Smart Citizen Services, Smart Transportation, and Smart Utilities. The Smart Buildings is further studied across Building Energy Optimization, Emergency Management, and Parking Management System. The Smart Citizen Services is further studied across Smart Education, Smart Healthcare, Smart Public Safety, and Smart Street Lighting. The Smart Transportation is further studied across Connected Vehicle, Freight Information System, Passenger Information Management System, Smart Ticketing, and Traffic Management System. The Smart Utilities is further studied across Advanced Metering Infrastructure, Distribution Management System, and Substation Automation. The Smart Buildings is projected to witness significant market share during forecast period.
Based on Component, market is studied across Hardware, Services, and Software. The Services 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 38.41% in 2023, followed by Europe, Middle East & Africa.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Smart City 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 City 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 City Market, highlighting leading vendors and their innovative profiles. These include Bentley Systems Incorporated, Hitachi Energy Ltd., Huawei Technologies Co., Ltd., Intel Corporation, International Business Machines Corporation, Kapsch TrafficCom AG, Microsoft Corporation, NEC Corporation, Oracle Corporation, SAP SE, Schneider Electric SE, Siemens AG, Telefonaktiebolaget LM Ericsson, Toshiba Corporation, and Yellow Line Parking Ltd..
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Smart City Market, by Module
7. Smart City Market, by Component
8. Americas Smart City Market
9. Asia-Pacific Smart City Market
10. Europe, Middle East & Africa Smart City Market
11. Competitive Landscape
12. Competitive Portfolio
13. Appendix
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 City Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Smart City Market?
3. What is the competitive strategic window for opportunities in the Smart City Market?
4. What are the technology trends and regulatory frameworks in the Smart City Market?
5. What is the market share of the leading vendors in the Smart City Market?
6. What modes and strategic moves are considered suitable for entering the Smart City Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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