Global Smart Cities Market Forecast Report 2023-2030: Tech Giants Intel, Microsoft, and Oracle Drive Smart Cities Market with Breakthrough Solutions

Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Global Smart Cities Market by Component (Services, Solutions), Focus Area Type (Smart Building, Smart Citizen Services, Smart Transportation) - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to's offering.

The Global Smart Cities Market size was estimated at USD 522.52 billion in 2022, USD 594.39 billion in 2023, growing at a CAGR of 14.32% to reach USD 1,524.34 billion by 2030.

The report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share.

The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Market Segmentation & Coverage:

This research report categorizes the Global Smart Cities Market in order to forecast the revenues and analyze trends in each of the following sub-markets:

  • Based on Components, the market is studied across Services and Solutions. The Services are further studied across Consulting, Deployment & Integration, and Infrastructure Monitoring & Management. The Solutions are further studied across Buildings, Citizen Services, Transportation, and Utilities. The Building is further studied across Building Infrastructure Management, Energy Management, Network Management, and Safety & Security Management. Building Infrastructure Management is further studied across Elevator & Escalators Management and Smart Water Management. Safety & Security Management is further studied across Access Control System, Entrance Control System, and Video Surveillance System. Citizen Services is further studied across E-governance, Smart Education, Smart Healthcare, and Smart Public Safety. Transportation is further studied across Connected Logistics, Smart Ticketing System, and Traffic & Parking Management Systems. The Utilities is further studied across Distribution Management System and Smart Meter Infrastructure. The Solutions is projected to witness a significant market share during the forecast period.
  • Based on Focus Area Type, the market is studied across Smart Buildings, Smart Citizen Services, Smart Transportation, and Smart Utilities. Smart Utilities is projected to witness a significant market share during the forecast period.
  • The Asia-Pacific is projected to witness a significant market share during the forecast period.

The report provides insights on the following pointers:

  1. Market Penetration: Provides comprehensive information on the market offered by the key players
  2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
  4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
  5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
  6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

Market Dynamics


  • Increasing demand to manage rising urban population
  • Government initiative for the development of smart city infrastructures worldwide
  • Need to develop energy-efficient and sustainable construction projects


  • High costs of solution implementation associated with smart cities


  • Surge in adoption of IoT-based solutions for transportation and building management
  • Emerging advancements in solutions to enhance the smart cities development


  • Limited expertise and need for technology alignment

Companies Mentioned

  • Accenture
  • Akeptus LLC
  • bee smart city GmbH
  • Bosch GmbH
  • Cisco Systems, Inc.
  • Cleverciti Systems GmbH
  • Confidex by Beontag
  • Dell Technologies Inc.
  • Ericsson AB
  • Fujitsu Limited
  • Geeny by Telefonica
  • HCL Technologies Limited
  • Hitachi Ltd.
  • Honeywell International Incorporated
  • Huawei Technologies Co., Ltd.
  • Intel Corporation
  • International Business Machines Corporation
  • KaaIoT Technologies, LLC
  • Microsoft Corporation
  • NEC Corporation
  • Oracle Corporation
  • SAP SE
  • Schneider Electric
  • SICE Technology and Systems Group
  • Siemens AG
  • Sierra Wireless Inc.
  • Telefonaktiebolaget LM Ericsson
  • Verizon Communications Inc
  • Wipro Limited

Key Attributes:

Report AttributeDetails
No. of Pages190
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$594.39 Billion
Forecasted Market Value (USD) by 2030$1524.34 Billion
Compound Annual Growth Rate14.3%
Regions CoveredGlobal

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Global Smart Cities Market

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