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Revolutionizing Urban Mobility With Cloud-Based Advanced Traffic Management System Trend: A Crucial Influence on the Smart Cities Market's Transformation in 2025
Smart Cities Market Share
The acceleration of urbanization worldwide is projected to fuel the expansion of the smart cities market in the future. Urbanization entails the shift of population from rural settings to urban locales, as well as the uptick in human population density in city environments. A smart city represents an urban setting equipped with sophisticated technologies that amass information via multiple electronic devices, vocal recognition techniques, and sensors. To illustrate, the United Nations Department of Economic and Social Affairs reports indicate that 68% of the global population, equivalent to 2.5 billion persons, are expected to inhabit urban regions by 2050. As such, the increasing pace of urbanization across the globe is propelling the growth of the decorative coatings market.
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How will the growth rate of the smart cities market shape industry trends by 2034?
The market for smart cities has experienced rapid expansion recently, expanding from a worth of $792.03 billion in 2024 to an estimated value of $949.94 billion in 2025, manifesting a compound annual growth rate (CAGR) of 19.9%. The extraordinary growth during the historic period can be credited to factors such as swift urbanization, concerns about environmental sustainability, issues related to traffic congestion and mobility, efficient energy and resource management, and government schemes and financial backing.
The market size for smart cities is predicted to experience tremendous growth in the upcoming years. The market is projected to reach $1987.43 billion by 2029, with a compound annual growth rate (CAGR) of 20.3%. The growth during the forecast period may be linked to the application of 5G networks, prioritization of health and safety measures, preparedness for resilience and disasters, and inclusivity and engagement of citizens. Noteworthy tendencies in the projected period are the development of platforms for citizen engagement, the use of edge computing for instantaneous processing, automation in smart buildings, systems for public safety and disaster response, and the application of digital twin technology in city planning.
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What trends are poised to drive the future success of the smart cities market?
Technological progress has been identified as a significant trend accelerating popularity in the smart cities market. Numerous major businesses in the smart cities industry are concentrating on cutting-edge technology to upgrade urban transport infrastructure and deliver quick, efficient, and fair public transportation. For example, in December 2023, Yunex Traffic, which is a segment of Siemens Mobility - a German company specializing in smart traffic management solutions, introduced a novel cloud-based sophisticated traffic management system (ATMS) known as Yutraffic Studio. Built with superior planning, monitoring and streamlining tools, this platform can effectively, efficiently, consistently and safely address traffic issues. The Yutraffic package's focal point is designed to tackle current transport management problems while being flexible to accommodate future traffic demands. An enormous amount of public and private data, including data directly from connected vehicles, can be consumed by the platform. Digital twin and predictive capabilities are made accessible to users when they upgrade to Yutraffic Insights intersection optimization analytics and Aimsun's simulation and predictive forecasting engine.
Which primary segments of the smart cities market are driving growth and industry transformations?
The smart cities market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Type: Roadways, Railways, Airways
3) By Application: Smart Governance, Smart Building, Smart Utilities, Smart Transportation, Smart Healthcare, Other Applications
Subsegments:
1) By Solutions: Smart Lighting, Smart Transportation Systems, Smart Waste Management, Smart Water Management, Smart Energy Management, Smart Parking Solutions
2) By Services: Consulting Services, System Integration Services, Managed Services, Maintenance And Support Services
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Which geographical regions are pioneering growth in the smart cities market?
North America was the largest region in the smart cities market in 2024. The regions covered in the smart cities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the smart cities market landscape?
Major companies operating in the smart cities market include Microsoft Corporation, AT&T Inc., Huawei Technologies Co Ltd., Hitachi Ltd., Siemens AG, General Electric Company, Siemens Mobility GmbH, accenture* plc, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd., Nokia Corporation, Telefonaktiebolaget LM Ericsson, Koninklijke Philips N.V., Infineon Technologies AG, Emerson Electric Co, NXP Semiconductors N.V., Atsuke, Xerox Holdings Corporation, Giesecke+Devrient GmbH, Cubic Corporation, HID Global Corporation, Scheidt & Bachmann GmbH, Vix Technology Ltd., Confidex Ltd., Robert Bosch GmbH, Capgemini SE, Cognizant Technology Solutions Corporation, Dell Technologies Inc., Fujitsu Limited, Infosys Limited, NEC Corporation, Oracle Corporation, SAP SE
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What Is Covered In The Smart Cities Global Market Report?
•Market Size Forecast: Examine the smart cities market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart cities market for a structured understanding.
•Key Players Overview: Analyze major players in the smart cities market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart cities market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart cities market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart cities market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart cities market.
•Competitive Landscape: Review strategic developments in the smart cities market, including expansions, agreements, and new product launches.
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