Global Smart Cities Market Size & Share is Forecasted to USD 1852.93 billion by 2030

Global Smart Cities Market to surpass USD 1852.93 billion by 2030 from USD 521.16 billion in 2020 at a CAGR of 19.24% in the coming years, i.e., 2021-30. Due to surging demand for public safety, rapid urbanization, and growing governmental initiatives, the Smart Cities market is projected to expand. Smart cities are commonly used to protect public safety in technologies like video monitoring, DNA phenotyping, real-time licensing plates, as well as face detection, which indicate the need for monitoring to guarantee citizen safety. The intelligent transport component is expected to be the largest market segment in 2020 and is anticipated to grow during the forecast period at a remarkable CAGR.

Smart City is a well-connected city that uses diverse ICTs to access information with the public and enhance both public and citizen welfare programs. In past years, this technique has been increasingly used to enhance public safety from the tracking of high crime rates to better preparedness for emergencies with sensors and much more. Intelligent living includes advances that impact the lives of people and allow them to live in a different way. It includes innovative solutions to improve efficiency, control, economy, productivity, integration, and sustainability.

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  • Market growth drivers and restraints
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Global Smart Cities Market: Key Players

  • Cisco Systems (US)
  • Ericsson (Sweden)
  • ABB (Switzerland)
  • AGT International (Switzerland)
  • KAPSCH Group (Austria)
  • IBM (US)
  • Vodafone (UK)
  • Honeywell International Inc. (US)
  • Telensa (England)
  • Schneider Electric (France)
  • Siemens AG (Germany)
  • Other Prominent Players

Global Smart Cities Market: Segments

Services deployment and integration segment to grow with the highest CAGR during 2020-30

Global Smart cities market is segmented by Service building Type into Type, Solutions, and Services deployment and integration. It may be difficult for organizations lacking qualified staff to execute new advanced intelligent building systems. It can also be a challenge to integrate new smart building solutions with existing IT infrastructure. Smart construction solutions can be highly valuable for the implementation of deployed and integrated services in such cases.

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Global Smart Cities Market Dynamics


Increasing need for public infrastructure security and communication

The success of smart city initiatives depends in large part on both telecommunications infrastructure and its public safety use. Every city must enhance the development and accessibility of communication platforms in order to realize the concept of intelligent cities openly and efficiently. The key component for all cities to become “intelligent” is access to modern, basic data communications infrastructure. For example, for those cities, fixed networks, mobile networks, and specialized IoT networks are crucial.


Vulnerability to threat-related to IoT

In intelligent city projects, safety and confidentiality is a key area of concern. The susceptibility of the entire ecosystem is high because the ecosystems of intelligent cities rely heavily on IoT and vital access points for various data. Stakeholders, security professionals, and intelligent city planners must tackle problems holistically to ensure that the challenges are not continued to plague the rest of the intelligent network to handle the privacy and security problems in smart cities.

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Global Smart Cities Market report also contains analysis on:

Smart Cities Market Segments:

  • By Service building Type
    • Type
    • Solutions
    • Services deployment and integration
  • By Smart utilities
    • Public Safety
    • Smart Healthcare
    • Smart Education
    • Smart Street Lighting
    • e-Governance

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