스마트 시티 시장 규모는 2022년 8,706억 1,000만 달러로 2023년 1조 9,430억 달러에서 2031년까지 6조 8,208억 달러로 예측 기간(2024-2031년) 동안 25.7%의 CAGR로 성장할 것으로 예상됩니다.
2023년에는 북미가 세계 스마트 시티 시장에서 압도적인 위치를 차지하게 될 것입니다. 이는 주로 정부, 통신, 금융 등 다양한 분야에서 진행 중인 디지털 혁명 덕분입니다. 이 지역은 저명한 기술 벤더들의 강력한 입지와 첨단 정보통신기술(ICT) 인프라를 자랑하며, 지방정부, 연방정부, ICT 제공업체들 간의 강력한 파트너십으로 보완되고 있습니다. 이러한 파트너십은 효과적인 지자체 간 연결의 토대를 마련하고, 북미가 미래 스마트 시티를 개척하는 데 유리한 위치를 차지하며, 예측 기간 동안 시장 성장을 촉진할 것으로 예상됩니다. 한편, 동남아시아태평양은 큰 폭의 성장을 앞두고 있으며, 연평균 29.2%의 괄목할 만한 성장세를 보일 것으로 예상됩니다. 이러한 빠른 성장의 배경에는 세계화, 디지털 인프라의 발전, 가처분 소득의 증가, 전반적인 경제 발전 등 여러 가지 요인이 있습니다. 아시아태평양의 기업들은 클라우드 기반 솔루션을 채택하고 있으며, 이러한 비용 효율성은 스마트 빌딩, 스마트 유틸리티, 스마트 교통, 스마트 거버넌스와 같은 혁신적인 애플리케이션의 개발을 촉진하고 있습니다. 이러한 추세는 북미와 동남아시아태평양의 스마트 시티 이니셔티브의 역동적인 상황을 강조하며, 빠르게 발전하고 있는 이 시장에서 큰 성장 기회가 있음을 강조합니다.
Smart Cities Market size was valued at USD 870.61 billion in 2022 and is poised to grow from USD 1094.3 billion in 2023 to USD 6820.8 billion by 2031, growing at a CAGR of 25.7% during the forecast period (2024-2031).
In 2023, North America emerged as the dominant player in the global smart cities market, primarily driven by an ongoing digital revolution across various sectors including government, communication, and finance. This region boasts a strong presence of renowned technology vendors and an advanced information and communication technology (ICT) infrastructure, complemented by robust collaboration between local municipalities and federal authorities as well as ICT providers. These partnerships have laid the groundwork for effective municipal connectivity, positioning North America well for future smart city developments, which are expected to bolster market growth throughout the forecast period. Meanwhile, Southeast Asia-Pacific is on track for substantial growth, projected to achieve a remarkable compound annual growth rate (CAGR) of 29.2%. This surge is fueled by several factors including globalization, advancements in digital infrastructure, increased disposable income, and overall economic progress. Enterprises in the Asia-Pacific region are increasingly adopting cloud-based solutions, recognizing their cost-effectiveness, which in turn is driving the development of innovative applications such as smart buildings, smart utilities, smart transportation, and smart governance. These trends underscore the dynamic landscape of smart city initiatives across both North America and Southeast Asia-Pacific, highlighting the significant opportunities for growth in these rapidly evolving markets.
Top-down and bottom-up approaches were used to estimate and validate the size of the smart cities market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
smart cities Market Segmental Analysis
The global smart cities market is segmented into smart transportation, smart utilities, smart citizen service, and region. By smart transportation, the market is classified into smart ticketing and connected logistics. Depending on smart utilities, it is categorized into offering and services. According to smart citizen service, the market is bifurcated into smart healthcare and smart street lighting. Regionally, it is analyzed across North America, Asia-Pacific, Latin America, Europe, and Middle East & Africa.
Driver of the smart cities Market
The burgeoning investment in smart city initiatives serves as a significant market driver for the smart cities sector. With governments in emerging regions funneling billions into innovative designs, the integration of advanced technologies enhances urban infrastructure, public services, and sustainability. For instance, efficiency in waste management becomes a reality through smart solutions, improving urban living standards. Additionally, the decreasing costs of Internet of Things (IoT) sensors facilitate widespread adoption and deployment of smart technologies, further accelerating market growth. As cities increasingly embrace digital transformation, the demand for smart city solutions will continue to rise, creating vast opportunities for stakeholders in this dynamic market.
Restraints in the smart cities Market
The smart cities market faces a notable restraint due to the substantial financial burden it imposes on resource-constrained economies. The high costs of developing and integrating smart city solutions, often exceeding $100 million for mid-sized towns, create a significant barrier to entry. While smart infrastructure promises improvements in operational efficiency and energy conservation, the daunting initial investment and ongoing maintenance expenses deter many municipalities from pursuing these advanced technologies. Consequently, this economic limitation may hinder the widespread adoption of smart city initiatives, restricting their transformative potential in enhancing urban living conditions and overall sustainability in less affluent regions.
Market Trends of the smart cities Market
The smart cities market is experiencing a significant growth trend, fueled by rapid advancements in technologies such as Artificial Intelligence (AI), Machine Learning (ML), the Internet of Things (IoT), cloud computing, and data analytics, particularly in developing regions. These innovations facilitate enhanced connectivity and data-sharing capabilities, enabling centralized control systems to integrate and manage information more efficiently from diverse urban sources. As cities harness these technologies, they not only optimize resource management and enhance public safety but also prioritize environmental sustainability and citizen privacy. This convergence of technology in urban planning is redefining the fabric of urban life and driving investment in smart city initiatives globally.