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In-Depth Examination of Segments, Industry Trends, and Key Competitors in the Artificial Intelligence (AI) Applications for Smart Cities Market
Artificial Intelligence (AI) Applications For Smart Cities
Projected Growth Trajectory of the AI Applications for Smart Cities Market
The artificial intelligence applications for smart cities market is poised for substantial expansion in the coming years. It is forecasted to reach a market value of $38.35 billion by 2030, growing at a compound annual growth rate (CAGR) of 19.4%. This impressive growth is driven by increased investments in smart city projects, rising government support for AI deployment, enhanced integration of AI with urban services, the proliferation of cloud and edge computing technologies in city infrastructures, and heightened awareness around sustainable development practices. Key innovations that will shape the market include advances in AI algorithms, real-time data analytics, autonomous traffic management, predictive maintenance research, and the fusion of AI with Internet of Things (IoT) and sensor networks.
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Leading Corporations Steering the AI Applications for Smart Cities Market
Several prominent companies play a vital role in driving the AI applications within the smart cities domain. These include Hitachi Ltd., International Business Machines Corporation (IBM), Cisco Systems Inc., Schneider Electric SE, ABB Ltd., Tata Consultancy Services Limited, Larsen & Toubro Limited, Infosys Limited, HCL Technologies Limited, PTC Inc., Verkada Inc., Optibus Ltd., Huawei Technologies Co. Ltd., Ubicquia Inc., Gorilla Technology Group Inc., Utilidata Inc., Ekin Smart City Technologies Inc., Ecube Labs Co. Ltd., Nodeflux Inc., Enevo Oy, and Seoul Robotics Inc.
A notable development occurred in November 2024 when Almaviva, an Italian digital innovation company specializing in transportation and logistics ICT, acquired Iteris Inc., a US-based provider of smart mobility infrastructure management solutions and AI applications for smart cities. This strategic move aimed to broaden Almaviva's smart mobility offerings and solidify its presence in North America by leveraging Iteris' advanced ClearMobility platform and extensive client network among public agencies.
Current Trends and Innovations Offering New Possibilities in the AI for Smart Cities Market
Technology firms in this space are focusing heavily on breakthroughs like AI-powered location intelligence platforms. These platforms analyze real-time geospatial data to help urban planners optimize resource allocation, mobility, and public services, fostering smarter, more responsive city ecosystems.
For example, in August 2024, Nearmap Pty Ltd., an Australian company providing location intelligence and aerial imagery, launched Generation 6 (Gen 6), a major upgrade to its platform. This new version includes over 130 AI-derived data layers based on high-resolution imagery across Australia, the US, Canada, and New Zealand. The platform detects features such as solar panels, construction sites, and detailed road markings, supporting applications including pavement management, urban planning, and vegetation monitoring. Delivered as vector files, the data integrates seamlessly with Geographic Information Systems (GIS), enhancing decision-making capabilities for smart cities.
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Market Segments and the Largest Shareholder Within the AI Applications for Smart Cities Market
The report categorizes the artificial intelligence applications for smart cities market into several key segments:
- By Type: Safety and Security, Mobility and Transportation, Energy and Resource Management, Infrastructure Management, Healare
- By Deployment: Cloud-Based, On-Premises
- By Technology: Machine Learning, Computer Vision, IoT Integration, Big Data Analytics
- By Application: Large Cities, Medium and Small Cities
Each type segment further includes detailed subcategories, such as:
- Safety and Security: Surveillance Systems, Emergency Response Systems, Crime Detection and Prevention, Fire Safety Management, Access Control Systems
- Mobility and Transportation: Traffic Management Systems, Public Transport Optimization, Autonomous Vehicles, Route Planning and Navigation, Fleet Management
- Energy and Resource Management: Smart Grids, Energy Consumption Monitoring, Water Resource Management, Waste Management Systems, Renewable Energy Management
- Infrastructure Management: Building Automation Systems, Structural Health Monitoring, Smart Lighting, Road and Bridge Monitoring, Facility Management Systems
- Healare: Remote Patient Monitoring, Predictive Diagnostics, Hospital Management Systems, Telemedicine Platforms, Emergency Medical Services Management
These segments highlight the diverse ways AI is embedded into smart city frameworks, addressing various urban challenges and enhancing the quality of life for residents worldwide.
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