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Global Smart Cities Market by Focus Area, Smart Transportation, Smart Buildings, Smart Utilities, Smart Citizen Services (Public Safety, Smart Healthcare, Smart Education, Smart Street Lighting, e-Governance), and Region - Forecast to 2027

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  • 305 Pages
  • November 2022
  • Region: Global
  • Markets and Markets
  • ID: 5146372

The smart cities market is projected to grow from USD 511.6 billion in 2022 to USD 1024.4 billion by 2027, at a CAGR of 14.9% during the forecast period. Due to increasing urbanization, governments are resorting to technological and digital solutions to improve public safety, environmental monitoring, water treatment, transportation, and energy generation and consumption, driving the smart cities market.

By smart utilities solution, distribution management registers higher CAGR during the forecast period

The distribution management system in the utility sector is governed by efficient Demand Response Management (DRM). DRM enables the utility sector to manage and implement Demand Response (DR) programs through a single integrated system, which can be interfaced with commercial, industrial, and residential sites. 

The growing rollouts of smart grids have increased the application of advanced metering infrastructure meters, enhanced customer utilities management systems, automation in the transmission and distribution system, and integration of renewable energy. Therefore, the rollout of the smart grid is the primary driver for the utility industry. The emergence of automated DR has also contributed to market growth. Moreover, the cost benefits of Software-as-a-Service (SaaS) and the cloud-based deployment of DRM provide a wholesome opportunity for market growth. 

Smart building solutions, safety and security management to account for the largest market share during the forecast period. A city can face various emergency situations, such as natural disasters, terrorist attacks, and crimes, owing to the uncertainty of events. A strong emergency management system must be in place to effectively tackle any emergency and minimize damages. Security infrastructure management mainly deals with security-related operations of buildings. Sophisticated computerized emergency management systems can help authorities/administrators to respond to emergencies quickly. The system handles every phase of the emergency response, from logging the emergency to informing the appropriate personnel about the size and severity of the incident, so that a quick and effective response can be ensured. The security and emergency management solution comprises access control systems, video surveillance systems, and safety solutions. Schneider Electric and ABB are the key global emergency response management solution vendors.

Among regions, the market in Asia Pacific registered the highest CAGR during the forecast period

The growth of the smart cities market in the Asia Pacific is highly driven by technological advancements across the region. China is anticipated to be the leading market for smart city solutions in this region. The existence of a large population and developing infrastructure and technology are major factors contributing to the growth of the smart cities market in the Asia Pacific. The smart city paradigm has changed considerably, with advanced technologies such as robotics and big data analytics becoming popular among them. In recent years, the Asia Pacific has successfully facilitated cooperation projects under a low-carbon model and IoT-based smart cities and has gathered valuable experience in the process, which can be shared among member economies. The overall focus of the region toward smart city initiatives offers opportunities for smart city providers to grow the market correspondingly.

Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the smart cities market. 

  • By Company Type: Tier I: 30%, Tier II: 45%, and Tier III: 25%
  • By Designation: C-Level Executives: 50%, Directors: 40%, and others: 10%
  • By Region: North America: 25%, Europe: 30%, Asia Pacific: 35%, RoW: 10%

The report includes the study of key players offering smart city solutions and services. It profiles major vendors in the smart cities market. The major vendors in the smart cities market include Cisco (US), IBM (US), Siemens (Germany), Microsoft (US), Hitachi (Japan), Schneider Electric (France), Huawei (China), Intel (US), NEC (Japan), ABB (Switzerland), Ericsson (Sweden), Oracle (US), Fujitsu (Japan), Honeywell (US), Accenture (Ireland), Vodafone (UK), AWS (US), Thales (France), Signify (Netherlands), Kapsch (Austria), Motorola (US), GE (US), Google (US), TCS (India), AT&T (US), Nokia (Finland), Samsung (South Korea), SAP (Germany), TomTom (Netherlands), AppyWay (UK), Ketos (US), Gaia (India), TaKaDu (Israel), FlamencoTech (India), XENIUS (India), Bright Cities (Brazil), Maydtech (Mexico), Zencity (Israel), and IXDen (Israel).

Research Coverage
The market study covers the smart cities market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as by focus area, smart transportation, smart building, smart utility, smart citizen service, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report 
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall smart cities market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities. 

Frequently Asked Questions about the Global Smart Cities Market

What is the estimated value of the Global Smart Cities Market?

The Global Smart Cities Market was estimated to be valued at $511.6 Billion in 2022.

What is the growth rate of the Global Smart Cities Market?

The growth rate of the Global Smart Cities Market is 14.9%, with an estimated value of $1024.4 Billion by 2027.

What is the forecasted size of the Global Smart Cities Market?

The Global Smart Cities Market is estimated to be worth $1024.4 Billion by 2027.

Who are the key companies in the Global Smart Cities Market?

Key companies in the Global Smart Cities Market include ABB, Accenture, Appyway, AT&T, Aws, Bright Cities, Cisco, Ericsson, Flamencotech and Fujitsu.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Years Considered
1.4 Currency Considered
1.5 Stakeholders
1.6 Summary of Changes

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data Breakup of Primary Profiles Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Market Forecast
2.5 Assumptions
2.6 Limitations

3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Smart Cities Market
4.2 Market, by Smart Building
4.3 North American Market, by Smart Citizen Services and Country (2022)
4.4 Asia-Pacific Market, by Smart Citizen Services and Country (2022)
4.5 Market, by Country

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Industry Trends
5.3.1 Value Chain
5.3.2 Ecosystem
5.3.3 Porter's Five Force Model Threat of New Entrants Threat of Substitutes Bargaining Power of Buyers Bargaining Power of Supplier Competitive Rivalry
5.3.4 Key Stakeholders and Buying Criteria Key Stakeholders in Buying Process Buying Criteria
5.3.5 Technology Analysis
5.3.6 Trends and Disruptions Impacting Buyers
5.3.7 Patent Analysis
5.3.8 Pricing Analysis Average Selling Price Trend of Key Players, by Smart Citizen Services Average Selling Price Trend
5.3.9 Use Cases
5.3.10 Key Conferences & Events in 2022 to 2023
5.3.11 Tariff and Regulatory Impact Regulatory Bodies, Government Agencies & Other Organizations

6 Smart Cities Market, by Focus Area
6.1 Introduction
6.1.1 Market, by Focus Area: Drivers

7 Smart Cities Market, by Smart Transportation
7.1 Introduction
7.1.1 Market, by Smart Transportation: Drivers
7.2 Component
7.2.1 Solutions Smart Ticketing Traffic Management Parking Management Traffic Surveillance Passenger Information Connected Logistics Other Solutions
7.2.2 Services Consulting Deployment and Integration Infrastructure Monitoring and Management
7.3 Mode
7.3.1 Roadways
7.3.2 Railways
7.3.3 Airways

8 Smart Cities Market, by Smart Buildings
8.1 Introduction
8.1.1 Market, by Smart Buildings: Drivers
8.2 Component
8.2.1 Solutions Building Infrastructure Management Parking Management System Smart Water Management System Elevators and Escalators Management System Safety and Security Management Access Control System Video Surveillance System Safety System Energy Management HVAC Control Systems Lighting Systems Network Management Integrated Workplace Management System
8.2.2 Services Consulting Deployment and Integration Infrastructure Monitoring and Management
8.3 Type
8.3.1 Residential
8.3.2 Commercial
8.3.3 Industrial

9 Smart Cities Market, by Smart Utilities
9.1 Introduction
9.1.1 Market, by Smart Utilities: Drivers
9.2 Component
9.2.1 Solutions Advanced Metering Infrastructure Meter Data Management Meter Data Analytics Smart Meters Other Solutions Distribution Management System Substation Automation Other Solutions
9.2.2 Services Consulting Deployment and Integration Infrastructure Monitoring and Management
9.3 Type
9.3.1 Energy
9.3.2 Gas
9.3.3 Water
9.3.4 Other Types

10 Smart Cities Market, by Smart Citizen Services
10.1 Introduction
10.1.1 Market, by Smart Citizen Services: Drivers
10.2 Smart Healthcare
10.2.1 Medical Devices
10.2.2 Systems and Software
10.2.3 Services
10.3 Smart Education
10.3.1 Solutions
10.3.2 Services
10.4 Smart Public Safety
10.4.1 Solutions
10.4.2 Services
10.5 Smart Street Lighting
10.4.1 Solutions
10.4.2 Services
10.6 E-Governance
10.4.1 Solutions
10.4.2 Services

11 Smart Cities Market, by Region
11.1 Introduction
11.2 North America
11.2.1 North America: PESTLE Analysis
11.2.2 United States
11.2.3 Canada
11.3 Europe
11.3.1 Europe: PESTLE Analysis
11.3.2 United Kingdom
11.3.3 Germany
11.3.4 France
11.3.5 Rest of Europe
11.4 Asia-Pacific
11.4.1 Asia-Pacific: PESTLE Analysis
11.4.2 China
11.4.3 Japan
11.4.4 South Korea
11.4.5 Rest of Asia-Pacific
11.5 Middle East and Africa
11.5.1 Middle East and Africa: PESTLE Analysis
11.5.2 Middle East
11.5.3 Africa
11.6 Latin America
11.5.1 Latin America: PESTLE Analysis
11.5.2 Brazil
11.5.3 Mexico
11.5.4 Rest of Latin America

12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Competitive Scenario and Trends
12.3.1 Product Launches
12.3.2 Deals
12.3.3 Others
12.4 Market Share Analysis of Top Players
12.5 Historical Revenue Analysis
12.6 Company Evaluation Matrix Overview
12.7 Company Evaluation Quadrant
12.7.1 Stars
12.7.2 Emerging Leaders
12.7.3 Pervasive Players
12.7.4 Participants
12.8 Product Footprint Analysis of Companies
12.9 Market Ranking Analysis of Companies
12.10 Startup/SME Evaluation Quadrant
12.10.1 Progressive Companies
12.10.2 Responsive Companies
12.10.3 Dynamic Companies
12.10.4 Starting Blocks
12.11 Competitive Benchmarking for SMEs/Startups

13 Company Profiles
13.1 Key Players
13.1.1 Siemens
13.1.2 Cisco
13.1.3 Hitachi
13.1.4 IBM
13.1.5 Microsoft
13.1.6 Schneider Electric
13.1.7 Huawei
13.1.8 Intel
13.1.9 Nec
13.1.10 ABB
13.1.11 Ericsson
13.1.12 Itron
13.1.13 Oracle
13.1.14 Fujitsu
13.1.15 Honeywell
13.1.16 Accenture
13.1.17 Vodafone
13.1.18 Aws
13.1.19 Thales
13.1.20 Signify
13.1.21 Kapsch
13.1.22 Motorola
13.1.23 GE
13.1.24 Google
13.1.25 Tcs
13.1.26 AT&T
13.1.27 Nokia
13.1.28 Samsung
13.1.29 SAP
13.1.30 Tomtom
13.2 Startups/SMEs
13.2.1 Appyway
13.2.2 Ketos
13.2.3 Gaia
13.2.4 Takadu
13.2.5 Flamencotech
13.2.6 Xenius
13.2.7 Bright Cities
13.2.8 Myadtech
13.2.9 Zencity
13.2.10 Ixden

14 Appendix and Adjacent Markets
14.1 Adjacent/Related Markets
14.1.1 Introduction
14.1.2 Limitations
14.2 Managed Services Market
14.3 Mobile Enterprise Application Market
14.4 Discussion Guide

Executive Summary

Companies Mentioned

  • ABB
  • Accenture
  • Appyway
  • AT&T
  • Aws
  • Bright Cities
  • Cisco
  • Ericsson
  • Flamencotech
  • Fujitsu
  • Gaia
  • GE
  • Google
  • Hitachi
  • Honeywell
  • Huawei
  • IBM
  • Intel
  • Itron
  • Ixden
  • Kapsch
  • Ketos
  • Microsoft
  • Motorola
  • Myadtech
  • Nec
  • Nokia
  • Oracle
  • Samsung
  • SAP
  • Schneider Electric
  • Siemens
  • Signify
  • Takadu
  • Tcs
  • Thales
  • Tomtom
  • Vodafone
  • Xenius
  • Zencity