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Smart Cities Market
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Smart Cities Market

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Smart Cities Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Smart Transportation, By Smart Buildings, By Smart Utilities, By Smart Citizen Services (Smart Healthcare, Smart Education, Smart Public Safety, Smart Street Lighting, E-Governance), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: November 2021
  • Report ID: BWC1801
  • Available Format: PDF
  • Page: 188

Report Overview

A smart city utilizes the power of information and communication technologies (ICTs) to improve operational efficiency, share information with the public, and serve its citizens better. Globally, smart cities continue to grow rapidly at a high CAGR due to increasing urbanization and favorable government initiatives to improve digital infrastructure.

Global Smart Cities Market- Industry Trends & Forecast Report 2027

The global smart cities market was worth USD 404.2 billion in 2020 and is further projected to reach USD 992.0 billion by the year 2027, growing at the CAGR of 13.8% in the forecast period. Globally, smart cities are gaining traction due to the emergence of technology, such as artificial intelligence (AI), personalized healthcare, sustainable energy generation, and robotics. Furthermore, as a collaborative growth solution for smart cities, PPPs are anticipated to boost the forecast period.

Smart Cities Market

 

Source: BlueWeave Consulting

Global Smart Cities Market- Overview

A smart city is an urban area equipped with modern technology, such as sensors to collect data, voice activation methods, etc. Following the collection of data, the information collected is used to improve operations across the city. A smart city uses the information for efficiently managing water-supply networks, road traffic, transportation systems, power plants, utilities, information systems, and much more. Governments are deploying electronic and digital technologies to transform communities and cities into smart cities in various countries.

Global Smart Cities Market Forecast and Trends

Growth Drivers

Growing Energy Consumption and Need for Sustainability

The energy consumption of urban cities is increasing at a high rate. Cities need a constant and uninterrupted power supply to keep their operations going. According to UN-Habitat, cities consume around 75% of the global primary energy and emit around 50 to 60% of the world’s total greenhouse gases. As a result, several countries are investing heavily in smart city development to achieve net-zero carbon emissions and reduce their energy consumption. This factor is anticipated to drive the global smart cities market in the forecast period.

Rising Government Initiatives and Public-Private Partnerships

Many governments are investing significant amounts and laying out well-structured plans to establish smart cities in their regions. They are joining hands with private partners and local government, and authorities to promote the adoption of advanced technologies like IoT and AI. One example is the Amsterdam smart city initiative, which is conducting 170+ projects that have been developed collaboratively by residents, government, and businesses, which are promoting the use of wireless devices for connecting networks.

Restraints

High Cost of Smart City Implementation

The implementation of smart city projects and models is not only expensive but is also a complicated process. The Smart America Organization estimates that city governments around the world will invest approximately USD 41 trillion to improve their infrastructure and meet smart city standards over the next twenty years. However, the establishment of a smart city requires a public-private model. In this race of smart cities, the middle- and low-income countries with limited financial resources will be left behind. This factor acts as a major restraining factor for growth.

Impact of COVID-19 on Global Smart Cities Market

The sudden outbreak of the COVID-19 pandemic halted the growth of the global smart cities market during the initial phase. Various healthcare systems were under extreme strain, with an increasing number of COVID-19 patients. Therefore, the government and healthcare authorities prioritized patient management and resource fulfillment for COVID-19 treatment. Consequently, smart cities' development and investment activities were restricted, negatively impacting the market's growth. However, this market is, expected to flourish in the post-COVID-19 period due to the benefits that smart healthcare systems can bring to the table.

Global Smart Cities Market - By Smart Transportation

Based on smart transportations, the global smart cities market is segmented into smart ticketing, traffic management, passenger information, connected logistics, and other solutions, services, and types. Among these, the traffic management segment accounts for the largest market share. Devices such as IoT sensors collect real-time data of vehicles and drivers and their locations. In this way, the authorities are able to manage traffic more efficiently, especially during peak traffic hours, and minimize the chances of road accidents. Smart ticketing represents another substantial share of the market.

Global Smart Cities Market - By Smart Utilities

Based on smart utilities, the global smart cities market is segmented into advanced metering infrastructure, distribution management system, substation automation, other solutions, services, and types. Among these, the advanced metering infrastructure segment accounts for the largest market share because of the degrading water levels, especially in urban cities. Governments are investing heavily in deploying advanced metering infrastructure to collect data on water use in real-time and improve energy efficiency, which can prove cost-effective in the long run.

Global Smart Cities Market - Regional Insights

North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa make up the global smart cities market. Among these regions, Europe dominates with the largest market share. The high concentration of major smart cities in Amsterdam, London, Copenhagen, Zürich, etc., is what makes this region the world leader in smart cities. Furthermore, the European Union is significantly investing in its smart cities program. London, Lisbon, Milan, Bordeaux, Burgas, and Warsaw recently received an investment of £250 million (approx USD 284.3 million) for promoting carbon reduction and improving service delivery as a part of the Sharing Cities program.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players of the global smart cities market are IBM Corporation, The ADT Corporation, Cisco Systems Inc, AT&T Inc, SAP SE, Intel Corporation, Oracle Corporation, Schneider Electric SE, General Electric, Xerox Corporation, Automation Anywhere Inc., Koninklijke Philips NV, Nokia Corporation, Hitachi Ltd, Honeywell International Inc., Huawei Technologies Co. Ltd, Ericsson Inc., ABB Ltd, Microsoft, and other prominent players. ‘

The market is dominated by technology giants, such as IBM, Microsoft, Cisco, etc., that offer advanced solutions to maintain their influence on the market. However, with strong investment in smart cities, small companies are expected to grow significantly during the forecast period, offering a wide range of solutions and services at a relatively low cost. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in the global smart cities market.

Recent Developments

  • In November 2021, ST Engineering, a Singapore-based leading company, secured new international smart city projects that involved smart mobility and Internet of Things (IoT) in Kaohsiung City and Rio de Janeiro.
  • In October 2021, Ehang Holdings Limited, a Chinese autonomous aerial vehicle technology platform company, announced its strategic partnership with Shenzhen Expressway Operation and Development Company Limited to jointly develop a smart city transportation network.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Smart Transportation, By Smart Buildings, By Smart Utilities, By Smart Citizen Services, By Region

Key Players

IBM Corporation, The ADT Corporation, Cisco Systems Inc, AT&T Inc, SAP SE, Intel Corporation, Oracle Corporation, Schneider Electric SE, General Electric, Xerox Corporation, Automation Anywhere Inc., Koninklijke Philips NV, Nokia Corporation, Hitachi Ltd, Honeywell International Inc., Huawei Technologies Co. Ltd, Ericsson Inc., ABB Ltd, Microsoft, and other prominent players.

 

By Smart Transportation

  • Component
  1. Solutions
  1. Smart Ticketing
  2. Traffic Management
  3. Passenger Information
  4. Connected Logistics
  5. Other Solutions
  1. Services
  1. Consulting
  2. Deployment and Integration
  3. Infrastructure Monitoring and Management
  • Type
  1. Roadways
  2. Railways
  3. Airways

By Smart Buildings

  • Component
  1. Solutions
  1. Building Infrastructure Management
  • Parking Management System
  • Smart Water Management System
  • Elevators and Escalators Management System
  1. Safety and Security Management
  • Access Control System
  • Video Surveillance System
  • Safety System
  1. Energy Management
  • HVAC Control Systems
  • Lighting Systems
  1. Network Management
  2. Integrated Workplace Management System
  1. Services
  1. Consulting
  2. Deployment and Integration
  3. Infrastructure Monitoring and Management
  • Type
  1. Residential
  2. Commercial
  3. Industrial

By Smart Utilities

  • Component
  1. Solutions
  1. Advanced Metering Infrastructure
  • Meter Data Management
  • Meter Data Analytics
  • Smart Meters
  • Other Solutions
  1. Distribution Management System
  2. Substation Automation
  3. Other Solutions
  1. Services
  1. Consulting
  2. Deployment and Integration
  3. Infrastructure Monitoring and Management
  • Type
  1. Energy
  2. Gas
  3. Water
  4. Other

By Smart Citizen Services

  • Smart Healthcare
  1. Medical Devices
  2. Systems and Software
  3. Services
  • Smart Education
  1. Solutions
  2. Services
  • Smart Public Safety
  1. Solutions
  2. Services
  • Smart Street Lighting
  1. Software
  2. Services
  • E-Governance
  1. Solutions
  2. Services

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Key Market Segments
  2. Research Methodology
    1. Qualitative Research
    2. Methodology
    3. Regional Split of Primary & Secondary Research
    4. Secondary Research
    5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
    6. Market Technology Estimation
    7. Assumptions for the Study
    8. Market Breakdown & Data Triangulation
  3. Executive Summary
  4. Industry Insight and Growth Strategy
    1. Value Chain Analysis
    2. DROC Analysis
      1. Market Drivers
        1. Increasing Energy Consumption and Need for Sustainability
        2. Rising Government Initiatives and Public-Private Partnerships
      2. Market Restraints
        1. High Cost of Smart City Implementation
      3. Market Challenges
        1. Limited Infrastructure in Low and Middle-Income Countries
      4. Market Opportunity
        1. Increasing Adoption of Advanced Technologies
        2. Growing Smart Healthcare Deployment
    3. Recent Developments
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
  5. Global Smart Cities Market Overview
    1. Market Technology & Forecast by Value, 2017-2027
    2. Market Technology and Forecast, By Segment
      1. By Smart Transportation
        1. Component
          1. Solutions
            1. Smart Ticketing
            2. Traffic Management
            3. Passenger Information
            4. Connected Logistics
            5. Other Solutions
          2. Services
            1. Consulting
            2. Deployment and Integration
            3. Infrastructure Monitoring and Management
        2. Type
          1. Roadways
          2. Railways
          3. Airways
      2. By Smart Buildings
        1. Component
          1. Solutions
            1. Building Infrastructure Management
              1. Parking Management System
              2. Smart Water Management System
              3. Elevators and Escalators Management System
            2. Safety and Security Management
              1. Access Control System
              2. Video Surveillance System
              3. Safety System
            3. Energy Management
              1. HVAC Control Systems
              2. Lighting Systems
            4. Network Management
            5. Integrated Workplace Management System
          2. Services
            1. Consulting
            2. Deployment And Integration
            3. Infrastructure Monitoring And Management
        2. Type
          1. Residential
          2. Commercial
          3. Industrial
      3. By Smart Utilities
        1. Component
          1. Solutions
            1. Advanced Metering Infrastructure
              1. Meter Data Management
              2. Meter Data Analytics
              3. Smart Meters
              4. Other Solutions
            2. Distribution Management System
            3. Substation Automation
            4. Other Solutions
          2. Services
            1. Consulting
            2. Deployment and Integration
            3. Infrastructure Monitoring and Management
        2. Type
          1. Energy
          2. Gas
          3. Water
          4. Other
      4. By Smart Citizen Services
        1. Smart Healthcare
          1. Medical Devices
          2. Systems and Software
          3. Services
        2. Smart Education
          1. Solutions
          2. Services
        3. Smart Public Safety
          1. Solutions
          2. Services
        4. Smart Street Lighting
          1. Software
          2. Services
        5. E-Governance
          1. Solutions
          2. Services
      5. By Region
        1. North America
        2. Europe
        3. Asia-Pacific
        4. Latin America
        5. Middle East & Africa
  6. North America Smart Cities Market Overview
    1. Market Technology and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Smart Transportation
      2. By Smart Buildings
      3. By Smart Utilities
      4. By Smart Citizen Services
      5. By Country
        1. U.S.
        2. Canada
  7. Europe Smart Cities Market Overview
    1. Market Technology and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Smart Transportation
      2. By Smart Buildings
      3. By Smart Utilities
      4. By Smart Citizen Services
      5. By Country
        1. Germany
        2. U.K.
        3. Russia
        4. France
        5. Italy
        6. Spain
        7. Rest of Europe
  8. APAC Smart Cities Market Overview
    1. Market Technology and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Smart Transportation
      2. By Smart Buildings
      3. By Smart Utilities
      4. By Smart Citizen Services
      5. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of APAC
  9. LATAM Smart Cities Market Overview
    1. Market Technology and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Smart Transportation
      2. By Smart Buildings
      3. By Smart Utilities
      4. By Smart Citizen Services
      5. By Country
        1. Mexico
        2. Brazil
        3. Rest of LATAM
  10. MEA Smart Cities Market Overview
    1. Market Technology and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
    3. By Smart Transportation
    4. By Smart Buildings
    5. By Smart Utilities
    6. By Smart Citizen Services
    7. By Country
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Rest of MEA
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
  12. Impact of COVID-19 on Global Smart Cities Market
  13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. IBM Corporation
    2. The ADT Corporation
    3. Cisco Systems Inc
    4. AT&T Inc
    5. SAP SE
    6. Intel Corporation
    7. Oracle Corporation
    8. Schneider Electric SE
    9. General Electric
    10. Xerox Corporation
    11. Automation Anywhere Inc.
    12. Koninklijke Philips NV
    13. Nokia Corporation
    14. Hitachi Ltd
    15. Honeywell International Inc.
    16. Huawei Technologies Co. Ltd
    17. Ericsson Inc.
    18. ABB Ltd
    19. Microsoft
    20. Other Prominent Players
  14. Key Strategic Recommendations

 

List of Figures

 

Figure 1: Global Smart Cities Market Segmentation

 

Figure 2: Global Smart Cities Market Value Chain Analysis,

 

Figure 3: Company Market Share Analysis, 2020

 

Figure 4: Global Smart Cities Market Technology, By Value (USD Billion), 2017-2027

 

Figure 5: Global Smart Cities Market Share (%), By Smart Transportation, By Value, 2017-2027

 

Figure 6: Global Smart Cities Market Share (%), By Smart Buildings, By Value, 2017-2027

 

Figure 7: Global Smart Cities Market Share (%), By Smart Utilities, By Value, 2017-2027

 

Figure 8: Global Smart Cities Market Share (%), By Smart Citizen Services, By Value, 2017-2027

 

Figure 9: Global Smart Cities Market Share (%), By Region, By Value, 2017-2027

 

Figure 10: North America Smart Cities Market Technology, By Value (USD Billion), 2017-2027

 

Figure 11: North America Smart Cities Market Share (%), By Smart Transportation, By Value, 2017-2027

 

Figure 12: North America Smart Cities Market Share (%), By Smart Buildings, By Value, 2017-2027

 

Figure 13: North America Smart Cities Market Share (%), By Smart Utilities, By Value, 2017-2027

 

Figure 14: North America Smart Cities Market Share (%), By Smart Citizen Services, By Value, 2017-2027

 

Figure 15: North America Smart Cities Market Share (%), By Country, By Value, 2017-2027

 

Figure 16: Europe Smart Cities Market Technology, By Value (USD Billion), 2017-2027

 

Figure 17: Europe Smart Cities Market Share (%), By Smart Transportation, By Value, 2017-2027

 

Figure 18: Europe Smart Cities Market Share (%), By Smart Buildings, By Value, 2017-2027

 

Figure 19: Europe Smart Cities Market Share (%), By Smart Utilities, By Value, 2017-2027

 

Figure 20: Europe Smart Cities Market Share (%), by Smart Citizen Services, By Value, 2017-2027

 

Figure 21: Europe Smart Cities Market Share (%), By Country, By Value, 2017-2027

 

Figure 22: Asia-Pacific Smart Cities Market Technology, By Value (USD Billion), 2017-2027

 

Figure 23: Asia-Pacific Smart Cities Market Share (%), By Smart Transportation, By Value, 2017-2027

 

Figure 24: Asia-Pacific Smart Cities Market Share (%), By Smart Buildings, By Value, 2017-2027

 

Figure 25: Asia-Pacific Smart Cities Market Share (%), By Smart Utilities, By Value, 2017-2027

 

Figure 26: Asia-Pacific Smart Cities Market Share (%), By Smart Citizen Services, By Value, 2017-2027

 

Figure 27: Asia-Pacific Smart Cities Market Share (%), By Country, By Value, 2017-2027

 

Figure 28: Latin America Smart Cities Market Technology, By Value (USD Billion), 2017-2027

 

Figure 29: Latin America Smart Cities Market Share (%), By Smart Transportation, By Value, 2017-2027

 

Figure 30: Latin America Smart Cities Market Share (%), By Smart Buildings, By Value, 2017-2027

 

Figure 31: Latin America Smart Cities Market Share (%), By Smart Utilities, By Value, 2017-2027

 

Figure 32: Latin America Smart Cities Market Share (%), By Smart Citizen Services, By Value, 2017-2027

 

Figure 33: Latin America Smart Cities Market Share (%), By Country, By Value, 2017-2027

 

Figure 34: Middle East & Africa Smart Cities Market Technology, By Value (USD Billion), 2017-2027

 

Figure 35: Middle East & Africa Smart Cities Market Share (%), By Smart Transportation, By Value, 2017-2027

 

Figure 36: Middle East & Africa Smart Cities Market Share (%), By Smart Buildings, By Value, 2017-2027

 

Figure 37: Middle East & Africa Smart Cities Market Share (%), By Smart Utilities, By Value, 2017-2027

 

Figure 38: Middle East & Africa Smart Cities Market Share (%), By Smart Citizen Services, By Value, 2017-2027

 

Figure 39: Middle East & Africa Smart Cities Market Share (%), By Region, By Value, 2017-2027

 

 

List of Tables

 

 

Table 1: Global Smart Cities Market Technology, By Smart Transportation, By Value, 2017-2027

 

Table 2: Global Smart Cities Market Technology, By Smart Buildings, By Value (USD Billion), 2017-2027

 

Table 3: Global Smart Cities Market Technology, By Smart Utilities, By Value (USD Billion), 2017-2027

 

Table 4: Global Smart Cities Market Technology, By Smart Citizen Services, By Value (USD Billion), 2017-2027

 

Table 5: Global Smart Cities Market Technology, By Region, By Value (USD Billion), 2017-2027

 

Table 6: North America Smart Cities Market Technology, By Smart Transportation, By Value (USD Billion), 2017-2027

 

Table 7: North America Smart Cities Market Technology, By Smart Buildings, By Value (USD Billion), 2017-2027

 

Table 8: North America Smart Cities Market Technology, By Smart Utilities, By Value (USD Billion), 2017-2027

 

Table 9: North America Smart Cities Market Technology, By Smart Citizen Services, By Value (USD Billion), 2017-2027,

 

Table 10: Europe Smart Cities Market Technology, By Smart Transportation, By Value (USD Billion), 2017-2027

 

Table 11: Europe Smart Cities Market Technology, By Smart Buildings, By Value (USD Billion), 2017-2027

 

Table 12: Europe Smart Cities Market Technology, By Smart Utilities, By Value (USD Billion), 2017-2027

 

Table 13: Europe Smart Cities Market Technology, By Smart Citizen Services, By Value (USD Billion), 2017-2027

 

Table 14: the Asia-Pacific Smart Cities Market Technology, By Smart Transportation, By Value (USD Billion), 2017-2027

 

Table 15: the Asia-Pacific Smart Cities Market Technology, By Smart Buildings, By Value (USD Billion), 2017-2027

 

Table 16: the Asia-Pacific Smart Cities Market Technology, By Smart Utilities, By Value (USD Billion), 2017-2027

 

Table 17: the Asia-Pacific Smart Cities Market Technology, By Smart Citizen Services, By Value (USD Billion), 2017-2027

 

Table 18: Latin America Smart Cities Market Technology, By Smart Transportation, By Value (USD Billion), 2017-2027

 

Table 19: Latin America Smart Cities Market Technology, By Smart Buildings, By Value (USD Billion), 2017-2027

 

Table 20: Latin America Smart Cities Market Technology, By Smart Utilities, By Value (USD Billion), 2017-2027

 

Table 21: Latin America Smart Cities Market Technology, By Smart Citizen Services, By Value (USD Billion), 2017-2027

 

Table 22: The Middle-East & Africa Smart Cities Market Technology, By Smart Transportation, By Value (USD Billion), 2017-2027

 

Table 23: The Middle-East & Africa Smart Cities Market Technology, By Smart Buildings, By Value (USD Billion), 2017-2027

 

Table 24: The Middle-East & Africa Smart Cities Market Technology, By Smart Utilities, By Value (USD Billion), 2017-2027

 

Table 25: The Middle-East & Africa Smart Cities Market Technology, By Smart Citizen Services, By Value (USD Billion), 2017-2027

Table 26: IBM Corporation Financial Analysis

Table 27: IBM Corporation Business Overview

Table 28: The ADT Corporation Financial Analysis

Table 29: The ADT Corporation Business Overview

Table 30: Cisco Systems Inc Corporation Financial Analysis

Table 31: Cisco Systems Inc Corporation Business Overview

Table 32: AT&T Inc Financial Analysis

Table 33: AT&T Inc Business Overview

Table 34: SAP SE Financial Analysis

Table 35: SAP SE Business Overview

Table 36: Intel Corporation Financial Analysis

Table 37: Intel Corporation Business Overview

Table 38: Oracle Corporation Financial Analysis

Table 39: Oracle Corporation  Business Overview

Table 40: Schneider Electric SE Financial Analysis

Table 41: Schneider Electric SE Business Overview

Table 42: General Electric Financial Analysis

Table 43: General Electric Business Overview

Table 44: Xerox Corporation Financial Analysis

Table 45: Xerox Corporation Business Overview

Table 46: Automation Anywhere Inc.  Financial Analysis

Table 47: Automation Anywhere Inc.  Financial Analysis

Table 48: Koninklijke Philips NV Financial Analysis

Table 49: Koninklijke Philips NV Financial Analysis

Table 50: Nokia Corporation Financial Analysis

Table 51: Nokia Corporation Financial Analysis

Table 52: Hitachi Ltd Financial Analysis

Table 53: Hitachi Ltd Financial Analysis

Table 54: Honeywell International Inc. Financial Analysis

Table 55: Honeywell International Inc. Financial Analysis

Table 56: Huawei Technologies Co. Ltd Financial Analysis

Table 57: Huawei Technologies Co. Ltd Financial Analysis

Table 58: Ericsson Inc. Financial Analysis

Table 59: Ericsson Inc. Financial Analysis

Table 60: ABB Ltd Financial Analysis

Table 61: ABB Ltd Financial Analysis

Table 62: Microsoft Financial Analysis

Table 63: Microsoft Financial Analysis

Market Segmentation

By Smart Transportation

  • Component
  1. Solutions
  1. Smart Ticketing
  2. Traffic Management
  3. Passenger Information
  4. Connected Logistics
  5. Other Solutions
  1. Services
  1. Consulting
  2. Deployment and Integration
  3. Infrastructure Monitoring and Management
  • Type
  1. Roadways
  2. Railways
  3. Airways

By Smart Buildings

  • Component
  1. Solutions
  1. Building Infrastructure Management
  • Parking Management System
  • Smart Water Management System
  • Elevators and Escalators Management System
  1. Safety and Security Management
  • Access Control System
  • Video Surveillance System
  • Safety System
  1. Energy Management
  • HVAC Control Systems
  • Lighting Systems
  1. Network Management
  2. Integrated Workplace Management System
  1. Services
  1. Consulting
  2. Deployment and Integration
  3. Infrastructure Monitoring and Management
  • Type
  1. Residential
  2. Commercial
  3. Industrial

By Smart Utilities

  • Component
  1. Solutions
  1. Advanced Metering Infrastructure
  • Meter Data Management
  • Meter Data Analytics
  • Smart Meters
  • Other Solutions
  1. Distribution Management System
  2. Substation Automation
  3. Other Solutions
  1. Services
  1. Consulting
  2. Deployment and Integration
  3. Infrastructure Monitoring and Management
  • Type
  1. Energy
  2. Gas
  3. Water
  4. Other

By Smart Citizen Services

  • Smart Healthcare
  1. Medical Devices
  2. Systems and Software
  3. Services
  • Smart Education
  1. Solutions
  2. Services
  • Smart Public Safety
  1. Solutions
  2. Services
  • Smart Street Lighting
  1. Software
  2. Services
  • E-Governance
  1. Solutions
  2. Services

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

1.     Research Methodology

Smart Cities
Source: BlueWeave Consulting Analysis

2.     Regional Split of Primary & Secondary Research

Smart Cities RM
Source: BlueWeave Consulting Analysis

3.    Secondary Research

The research process began with obtaining historical market sizes of the entire smart cities market and the share of each type of segmentation, through exhaustive secondary research to understand the potential of the market under the prevailing market environment during the past years. The growth rate of the market and its segments was studied with a comparative approach to understand the impact of factors that shaped the market during the recent past.

The next step involved the study of present market environment that is influencing the Smart cities market and its expected long-term impact. Weightage was given to several forces that are expected to affect the home security market, during the forecast period. Based on the interim analysis, the market numbers were formulated for each of the forecast years for every segment.

4.   Primary Research

Various industry experts including CEOs, presidents, vice presidents, directors, sales managers, products managers, organization executives and other key people of the global smart cities market were interviewed. The third step involved validation of hypothesis through segmented primary research with the key opinion leaders in the industry, including the company representatives, experts from distributer agencies, service providers and other industry experts. The primary research helped in assessing the gathered and assumed data with the real-time experience of industry representatives. This also led to modification in certain assumptions that were taken during the process of preliminary research. The analysts arrived at solid data points after the completion of primary research process.

In the fourth step, the market engineering was conducted, where the data points collected through secondary and primary sources were compiled to compute the final market sizes.

4.1    Breakdown of Primary Research Respondents, By Region

Smart Cities
Source: BlueWeave Consulting Analysis

4.2    Breakdown of Primary Research Respondents, By Industry Participants

Smart Cities
Source: BlueWeave Consulting Analysis

5.    Market Size Estimation

Top-down approach has been followed to obtain the market size by region, and by country. Bottom-Up approach has been followed to obtain market size by component and by application. An amalgamation of bottom-up and top-down approach has been performed to determine the revenue.

6.  Assumptions for the Study

  • The macro-economic factors would remain same during the forecast period.
  • The market players would exhibit consistent performance during the forecast period without having any adverse ripple effects on the industry.

7.  Market Breakdown & Data Triangulation

Fig: 1  Data Triangulation

Smart Cities RM
Source: BlueWeave Consulting Analysis

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Frequently Asked Questions (FAQs):

Ans: The global smart cities market reached USD 404.2 billion in 2020.
Ans: Growing urbanization and favorable government initiatives to improve digital infrastructure are driving the global smart cities market.
Ans: The key players in the global smart cities market are: IBM Corporation, The ADT Corporation, Cisco Systems Inc, AT&T Inc, SAP SE, Intel Corporation, Oracle Corporation, Schneider Electric SE, General Electric, Xerox Corporation, Automation Anywhere Inc., Koninklijke Philips NV, Nokia Corporation, Hitachi Ltd, Honeywell International Inc., Huawei Technologies Co. Ltd, Ericsson Inc., ABB Ltd, Microsoft, and other prominent players.
Ans: The smart healthcare segment accounted for the largest share in the global smart cities market.
Ans: Europe holds the largest share in the global smart cities market.