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Global Smart Cities Engineering and Construction (E&C) Services Market, By Project (Buildings, Others), By Application (IoT, Housing, Others), By City Topography (Developed, Emerging), By Service Type, By Solution, Estimation & Forecast, 2017 - 2030

  • ID: 5411586
  • Report
  • May 2021
  • Region: Global
  • 260 Pages
  • Astute Analytica
Global Smart Cities Engineering and Construction (E&C) Services Market is Projected to Grow at a CAGR of 16.5% During the Forecast Period 2017-2030

FEATURED COMPANIES

  • Accenture
  • Arup
  • Buro Happold
  • Daxue consulting - China
  • McKinsey
  • Microsoft
The global smart cities engineering and construction (E&C) services market held a market value of USD 106.64 Billion in 2020 and is forecasted to reach USD 453.07 Billion by the year 2030. The market is anticipated to grow at a CAGR of 16.5% during the projected period.

Smart cities engineering and construction (E&C) services are used for the development and building of smart cities. The market is majorly driven by the increasing adoption of connected and smart technologies in smart cities, favorable government initiatives promoting smart cities, and increasing digitization in public safety and transportation. However, security concerns associated with smart cities are expected to negatively hamper market growth. Furthermore, high costs associated with these services are also anticipated to hamper market growth.

Growth Influencers:


Increasing digitization in public safety and transportation

The increasing use of digitization tools in transportation, as well as public safety services, is estimated to boost the market growth. Smart sensors are used for improving the traffic flow as well as to improve transport efficiency. By using smart cities' E&C services, there can be improved efficiency as well as sustainable gains from digital innovations. These innovations can offer new ways for delivering public services and also optimize the use of idle or surplus resources. Furthermore, the tourism sector in these cities can benefit from improved dissemination management, such as seamless transport. Also, smart grids can be connected to the transport system and home devices for managing energy supply and demand more efficiently. Therefore, increasing digitization in public safety and transportation is expected to boost market growth.

Rising number of government initiatives promoting smart cities

Various government initiatives along with public-private partnerships are boosting market growth. For instance, China has various smart city initiatives which are combining metering devices, embedded sensors, and other such monitoring technologies with artificial intelligence analysis and big data processing for assisting in managing the public spaces as well as the cities. As of 2020, the country has about 800 smart cities pilot programs in planning or processes. This is about half of the total smart cities across the globe. Such initiatives are anticipated to boost the market growth over the forecast period.

Segments Overview:


The global smart cities engineering and construction (E&C) services market is segmented into technology, component, application, and deployment.

By Service Type,

  • End to end services
  • Surveying
  • Master Planning
  • Conceptual Architecture
  • Geotechnical Engineering & Material Testing
  • Design Engineering
  • Feasibility Studies
  • ICT Consulting
  • Environment Impact Assessment
  • Tenders & Bid Management
  • Vendor Selection & Onboarding

The ICT consulting segment accounted for the largest share as well as is expected to grow at the fastest CAGR of 18% owing to the rising demand for ICT consulting services in the smart cities market. Furthermore, the end-to-end services segment is anticipated to hold the second-largest market share.

By Solution,

  • Design/ Consulting
  • Network
  • Infrastructure
  • Hardware
  • Software
  • Equipment
  • Other Solutions

The infrastructure segment accounted for the largest share owing to the rapidly growing construction industry globally. The software segment is estimated to foresee the highest growth rate during the forecast period.

By Project,

  • Buildings
  • Residential & Commercial Complexes
  • Hospitality Building
  • IT Parks
  • Educational Campuses
  • Healthcare Facilities
  • Recreation & Training Centers
  • Urban Development
  • Greenfield Smart Cities
  • Integrated Townships
  • Brownfield City Upgrades
  • Industrial
  • Townships & Port Cities
  • Roads & Highways
  • Industrial Manufacturing
  • FMCG
  • Automotive
  • Agriculture Machinery
  • Energy
  • Aerospace & Defense Manufacturing
  • Others

The urban development segment is expected to lead the market with over 44% of the share owing to the rising development of smart city projects in the urban areas. The buildings segment is expected to grow at the fastest rate during the forecast period.

By Application,

  • Housing
  • Water
  • Waste
  • Smart Grid
  • Energy
  • Lighting
  • Transportation
  • Traffic
  • Citizen Services
  • Healthcare
  • Education
  • Safety & Security
  • eGovernance
  • IoT

The smart grid segment accounted for the largest market share owing to the rising demand for smart cities’ E&C services for this application. The IoT segment is estimated to grow at the fastest rate over the projected period.

By City Topography,

  • Developed Economies
  • New
  • Existing
  • Emerging Economies
  • New
  • Existing

The developed economies segment accounted for the largest market share owing to the favorable government initiatives in these economies. The emerging economies segment is likely to witness the fastest CAGR of 18%.

Regional Overview


On a regional basis, the global Smart cities engineering and construction (E&C) services market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.

The Asia Pacific region holds the largest market share of more than 34% as well as is expected to grow at the fastest growth rate owing to rising focus on the development of digital infrastructure and presence of fast-developing economies, such as India and China, where their governments are investing heavily to develop smart cities, which is also fuelling the engineering and construction (E&C) services.

The North American region accounted for the second-largest market share owing to the well-developed ICT infrastructure and the presence of prominent technology vendors. The presence of various international councils in the region is also anticipated to drive market growth.

Competitive Landscape


Key players operating in the global Smart cities engineering and construction (E&C) services market include Engineering Consulting Firms, AECOM, Arup, Bleak & Veatch Singapore, Buro Happold, Daxue consulting - China, Gaia Smart Cities Solutions Pvt. Ltd, Incheon smart city corporation - Korea, McKinsey, Meinhardt Group, Mott MacDonald, PWC, Surbana Jurong Private Limited - Singapore, Tata Consulting Engineers, TuV, WSP Global Inc, Accenture, IBM, Microsoft, Cisco, Honeywell International, Inc., and other Telecom & IT companies and Ecosystem Players.

The approximate market share of the nine major players is near about 52%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in March 2021, Aecom signed a USD 2 billion contract with the U.S. Air Force Civil Engineer Center for delivering planning, design, and construction management services to the center.

The global Smart cities engineering and construction (E&C) services market report provides insights on the below pointers:

  • Market Penetration: Provides comprehensive information on the market offered by the prominent players
  • Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  • Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
  • Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Smart cities engineering and construction (E&C) services market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
  • Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Smart cities engineering and construction (E&C) services market report answers questions such as:

  • What is the market size and forecast of the Global Smart cities engineering and construction (E&C) services Market?
  • What are the inhibiting factors and impact of COVID-19 on the Global Smart cities engineering and construction (E&C) services Market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart cities engineering and construction (E&C) services Market?
  • What is the competitive strategic window for opportunities in the Global Smart cities engineering and construction (E&C) services Market?
  • What are the technology trends and regulatory frameworks in the Global Smart cities engineering and construction (E&C) services Market?
  • What is the market share of the leading players in the Global Smart cities engineering and construction (E&C) services Market?
  • What modes and strategic moves are considered favorable for entering the Global Smart cities engineering and construction (E&C) services Market?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Accenture
  • Arup
  • Buro Happold
  • Daxue consulting - China
  • McKinsey
  • Microsoft
Chapter 1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

Chapter 2. Research Methodology
2.1. Qualitative Research
2.2. Quantitative Research
2.3. Breakdown of Primary Research Respondents, By Region
2.4. Assumption for the Study
2.5. Market Size Estimation
2.6. Data Triangulation

Chapter 3. Executive Summary: Global Smart Cities Engineering & Construction Services Market

Chapter 4. Global Smart Cities Engineering & Construction Services Market Overview
4.1. Smart City Project Investment Outlook
4.2. Industry Value Chain Analysis
4.3. List of Key Ecosystem Participants
4.4. PEST Analysis
4.5. Market Dynamics and Trends
4.6. Porter's Five Forces Analysis
4.7. Technology Lifecycle & Adoption Trend
4.8. Competition Dashboard
4.9. Impact Assessment of Covid-19

Chapter 5. Global Smart Cities Engineering & Construction Services Market Analysis, By Service Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 6. Global Smart Cities Engineering & Construction Services Market Analysis, By Solution
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 7. Global Smart Cities Engineering & Construction Services Market Analysis, By Application
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 8. Global Smart Cities Engineering & Construction Services Market Analysis, By Project
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 9. Global Smart Cities Engineering & Construction Services Market Analysis, By City Topography
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 10. Global Smart Cities Engineering & Construction Services Market Analysis, By Region
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 11. North America Smart Cities Engineering & Construction Services Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 12. Western Europe Smart Cities Engineering & Construction Services Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 13. Asia-Pacific Smart Cities Engineering & Construction Services Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 14. Middle East Smart Cities Engineering & Construction Services Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 15. Africa Smart Cities Engineering & Construction Services Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 16. South America Smart Cities Engineering & Construction Services Market Analysis
16.1. Key Insights
16.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 17. Eastern Europe Smart Cities Engineering & Construction Services Market Analysis
17.1. Key Insights
17.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 18. Japan Smart Cities Engineering & Construction Services Market Analysis
18.1. Key Insights
18.2. Market Size and Forecast, 2017 - 2030 (US$ Bn)

Chapter 19. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
19.1. Engineering Consulting Firms
19.2. Other Ecosystem Players
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A selection of companies mentioned in this report includes:

  • Engineering Consulting Firms
  • AECOM
  • Arup
  • Bleak & Veatch Singapore
  • Buro Happold
  • Daxue consulting - China
  • Gaia Smart Cities Solutions Pvt. Ltd
  • incheon smart city corporation - Korea
  • McKinsey
  • Meinhardt Group
  • Mott MacDonald
  • PWC
  • Surbana Jurong Private Limited - Singapore
  • Tata Consulting Engineers
  • TuV
  • WSP Global Inc
  • Other Ecosystem Players
  • Accenture
  • IBM
  • Microsoft
  • Cisco
  • Honeywell International, Inc.
  • Others Telecom & IT companies
Note: Product cover images may vary from those shown