Smart City Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component, By Functional Area, By Region, and By Competition, 2020-2030F

Description

The Global Smart City Market will grow from USD 601.00 Billion in 2024 to USD 2418.68 Billion by 2030 at a 26.12% CAGR. The Global Smart City Market encompasses an urban development paradigm leveraging information and communication technologies, Internet of Things devices, and data analytics to optimize city operations, enhance public services, and improve resident quality of life. Market growth is primarily driven by accelerating urbanization, which mandates efficient resource management and sustainable infrastructure, alongside increasing government initiatives aimed at modernizing urban environments and improving civic services.

Market Overview
Forecast Period	2026-2030
Market Size 2024	USD 601.00 Billion
Market Size 2030	USD 2418.68 Billion
CAGR 2025-2030	26.12%
Fastest Growing Segment	Software
Largest Market	North America

Key Market Drivers

Rapid urbanization and persistent population growth represent a primary impetus for the global smart city market, generating significant pressures on existing urban infrastructure and public service delivery. As cities absorb a larger proportion of the global populace, there is an escalating requirement for efficient resource management, improved sustainability, and enhanced livability across sectors such as transportation, energy, and public safety. This demographic shift necessitates transformative solutions.

Key Market Challenges

The significant initial capital expenditure required for deploying comprehensive smart city infrastructure and integrated technological platforms presents a considerable barrier to market expansion. Municipalities often face substantial financial hurdles in initiating and developing extensive smart city projects, encompassing everything from advanced sensor networks and high-capacity data centers to sophisticated software integration. This fundamental financial requirement directly impacts the pace and scale of urban modernization efforts globally.

Key Market Trends

The "Global Smart City Market" is significantly influenced by the accelerating adoption of digital twin technology, which provides a comprehensive framework for urban planning and management. This trend involves creating virtual models of physical city assets and systems, allowing for real-time monitoring, predictive analytics, and scenario simulation to enhance operational efficiency and sustainability.

Key Market Players

Cisco Systems Inc.
IBM Corporation
Siemens AG
Microsoft Corporation
Hitachi Ltd.
Schneider Electric SE
Huawei Technologies Co., Ltd.
Intel Corporation
ABB Group
Honeywell International Inc.

Report Scope:

In this report, the Global Smart City Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Smart City Market, By Component:

Hardware
Software
Service

Smart City Market, By Functional Area:

Smart Infrastructure
Smart Governance & Smart Education
Smart Energy
Smart Mobility
Smart Healthcare
Smart Buildings
Others

Smart City Market, By Region:

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Smart City Market.

Available Customizations:

Global Smart City Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Smart City Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Component (Hardware, Software, Service)
- 5.2.2. By Functional Area (Smart Infrastructure, Smart Governance & Smart Education, Smart Energy, Smart Mobility, Smart Healthcare, Smart Buildings, Others)
- 5.2.3. By Region
- 5.2.4. By Company (2024)
5.3. Market Map

6. North America Smart City Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Component
- 6.2.2. By Functional Area
- 6.2.3. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Smart City Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Component
    - 6.3.1.2.2. By Functional Area
- 6.3.2. Canada Smart City Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Component
    - 6.3.2.2.2. By Functional Area
- 6.3.3. Mexico Smart City Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Component
    - 6.3.3.2.2. By Functional Area

7. Europe Smart City Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Component
- 7.2.2. By Functional Area
- 7.2.3. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Smart City Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Component
    - 7.3.1.2.2. By Functional Area
- 7.3.2. France Smart City Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Component
    - 7.3.2.2.2. By Functional Area
- 7.3.3. United Kingdom Smart City Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Component
    - 7.3.3.2.2. By Functional Area
- 7.3.4. Italy Smart City Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Component
    - 7.3.4.2.2. By Functional Area
- 7.3.5. Spain Smart City Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Component
    - 7.3.5.2.2. By Functional Area

8. Asia Pacific Smart City Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Component
- 8.2.2. By Functional Area
- 8.2.3. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Smart City Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Component
    - 8.3.1.2.2. By Functional Area
- 8.3.2. India Smart City Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Component
    - 8.3.2.2.2. By Functional Area
- 8.3.3. Japan Smart City Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Component
    - 8.3.3.2.2. By Functional Area
- 8.3.4. South Korea Smart City Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Component
    - 8.3.4.2.2. By Functional Area
- 8.3.5. Australia Smart City Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Component
    - 8.3.5.2.2. By Functional Area

9. Middle East & Africa Smart City Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Component
- 9.2.2. By Functional Area
- 9.2.3. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Smart City Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Component
    - 9.3.1.2.2. By Functional Area
- 9.3.2. UAE Smart City Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Component
    - 9.3.2.2.2. By Functional Area
- 9.3.3. South Africa Smart City Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Component
    - 9.3.3.2.2. By Functional Area

10. South America Smart City Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Component
- 10.2.2. By Functional Area
- 10.2.3. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Smart City Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Component
    - 10.3.1.2.2. By Functional Area
- 10.3.2. Colombia Smart City Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Component
    - 10.3.2.2.2. By Functional Area
- 10.3.3. Argentina Smart City Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Component
    - 10.3.3.2.2. By Functional Area

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Smart City Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Cisco Systems Inc.
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. IBM Corporation
15.3. Siemens AG
15.4. Microsoft Corporation
15.5. Hitachi Ltd.
15.6. Schneider Electric SE
15.7. Huawei Technologies Co., Ltd.
15.8. Intel Corporation
15.9. ABB Group
15.10. Honeywell International Inc.