Smart Cities Market

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Smart Cities Market by Focus Area, Smart Transportation, Smart Buildings, Smart Utilities, Smart Citizen Services (Public Safety, Smart Healthcare, Smart Education, Smart Street Lighting, and E-Governance) and Region - Global Forecast to 2027

FREE BROCHURE FREE SAMPLE REPORT
Report Code: TC 3071 Nov, 2022, by marketsandmarkets.com

Smart Cities Market Analysis, Industry Size & Forecast

The global Smart Cities Market size was crossed $511.6 billion in 2022 and is anticipated to exhibit a CAGR of 14.9% to reach over $1024.4 billion by the end of 2027.The growing mobile subscriber base, broadband penetration, and the adoption of advanced technologies across businesses drive the smart cities market.

Smart Cities Market Overview

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Smart Cities Market Dynamics

Driver: AI and ML to accelerate development of smart cities

In the smart cities market research report study, the technologies such as Artificial Intelligence (AI) and Machine Learning (ML) are helping smart cities empower individuals, organizations, or systems to be self-sufficient and futuristic. These technologies acquire massive amounts of data to upgrade the systems and components that run the cities and make them capable of making intelligent decisions without much human intervention. Artificial intelligence and machine learning algorithms are now fundamental parts of industries and are crucial to building smart cities. The deployment of AI-enabled intelligent machines powered by machine learning creates cyber-physical space, which includes traffic sensors, medical monitoring, industrial control systems, video cameras, environment sensors, and smart meters. The data obtained through machines help in predictive analysis and decision-making for smart city planning.

Restraint: Privacy and security concerns over IoT

Privacy and security are major areas of concern in smart city projects. As the smart cities market ecosystem depends majorly on IoT and central access points for different data, the vulnerability of the whole ecosystem is high. To solve the privacy and security challenges in smart cities, stakeholders (security professionals and smart city planners) must address issues holistically to ensure that the challenges will not continue plaguing the rest of the smart network. The need for a technically suitable solution to guarantee the security and privacy of customers adopting various identification systems has been increasing.

Opportunity: Advancements in technologies, such as AI, cloud, IoT, and analytics

In recent years, there have been rapid advancements in emerging technologies, such as AI, ML, cloud, data analytics, IoT, and cybersecurity. The augmented adoption of these technologies in the smart cities environment has enabled better connectivity, resulting in a complete remodeling of the smart cities market ecosystem. With the help of IoT devices, the system can collect data from multiple sources and share it with a centralized control center by leveraging the cloud. Such advanced technologies are not only used to enrich the lives of citizens but are also used in other areas, such as security, privacy, and environmental sustainability. For instance, a Mexican city uses AT&T’s AT&T Control Center, an IoT platform, to efficiently manage connected devices in real time.

Challenge: Absence of appropriate infrastructure in developing and underdeveloped economies

The developing and underdeveloped nations still use legacy telecom infrastructure incapable of delivering low latency and high-capacity connectivity. Poor internet speed can lead to a poor experience. Since smart cities market ecosystem solutions require high-speed and low-latency internet, having a slow connection will cause reduced quality of service. The lack of high-speed internet makes it very difficult to implement smart city solutions. The governments in such countries do not have the budget to afford the expensive infrastructures required to establish and ensure the smooth functioning of smart city solutions.

Smart cities market by smart healthcare services to register higher CAGR during forecast period

With the growing digitalization and increasing connectivity and innovations in the modern healthcare ecosystem, the IoT in the healthcare industry is witnessing significant growth. Smart healthcare solutions are helping organizations in managing various bottlenecks in caregiving and bridging the gap between the patients and care providers by providing solutions, such as remote patient monitoring, remote medical assistance, simultaneous monitoring and reporting, patient care workflow automation, notifications and alert management, real-time staff tracking, mobile health, smart hospitals, smart pills, and enhanced chronic disease treatment.

By smart utilities solution, advanced metering infrastructure to account for largest market share during forecast period

Smart metering and Meter Data Management (MDM) solutions for utilities are handled by enterprise applications to centralize the collection, process, and storage and perform complex analysis of meter and other utilities-related data. The MDM solution captures volumes of interval data produced by metering systems. Moreover, MDM simplifies the IT integration of meters and consolidates the reading data from multiple collection systems into a centralized repository. After the data is processed, it can be accessed across utility organizations for a wide range of applications, such as billing, revenue assurance, leak management and loss analysis, system capacity planning, and consumer engagement.

North America to account for largest market share during forecast period

North America is expected to hold the largest share of the overall smart cities market. The US has high adoption of smart city technologies in this region. North America leads smart city usage, with the US and Canada at the forefront. These countries have sustainable and well-established economies, which empower them to invest strongly in R&D activities, thereby contributing to developing new technologies. Network operators in this region constantly invest in expanding and upgrading their telecom networks and transition toward 5G infrastructure. This leverages technologies, such as cloud edge computing and network slicing, thereby actuating the adoption of smart cities at a low cost for strategic urban management.

Smart Cities Market by Region

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Top Companies in Smart Cities Market

The top companies in smart cities market have implemented various types of organic and inorganic growth strategies, such as new product launches, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market. The top companies in smart cities market include

  • Cisco (US)
  • IBM (US)
  • Siemens (Germany)
  • Microsoft (US)
  • Hitachi (Japan)
  • Schneider Electric (France)
  • Huawei (China)
  • Intel (US)
  • NEC (Japan)
  • ABB (Switzerland)
  • Ericsson (Sweden)
  • Oracle (US)
  • Fujitsu (Japan)
  • Honeywell (US)
  • Accenture (Ireland)

The study includes an in-depth competitive analysis of these key market players along with their profiles, recent developments, and key market strategies.

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Scope of the Report

Report Metrics

Details

Market Size in 2022

US $511.6 Billion

Revenue Forecast Size in 2027

US $1024.4 Billion

Market Growth Rate

14.9% CAGR

Largest Market

North America

Market Growth Drivers
  • AI and ML to accelerate the development of smart cities
  • Growing urbanization to drive adoption of smart city solutions
  • Need for efficient management and utilization of resources

Market Opportunities
  • Advancements in AI, cloud, IoT, and analytics technologies
  • Rise of 5G
  • Use of drones to enforce compliance during pandemics
Segments covered By focus area, smart transportation, smart building, smart utility, smart citizen service, and region
Regions covered North America, Europe, Asia Pacific, Middle East, and Africa, and Latin America

This research report categorizes the smart cities market to forecast revenues and analyze trends in each of the following subsegments:

Market by Focus Area Type:

  • Smart Transportation
  • Smart Building
  • Smart Utilities
  • Smart Citizen Services

Market by Smart Transportation

  • By Component:
    • Solutions
      • Smart Ticketing
      • Traffic Management
      • Parking Management
      • Traffic Surveillance
      • Passenger Information Management
      • Connected Logistics
      • Other Solutions
    • Services
      • Consulting
      • Deployment and Integration
      • Infrastructure Monitoring and Management
  • By Type:
    • Roadway
    • Railway
    • Airway

Market by Smart Building

  • BY Component:
    • Solutions
      • Building Infrastructure Management
        • Parking Management System
        • Smart Water Management System
        • Elevator and Escalators Management System
      • Safety and Security Management
        • Access Control System
        • Video Surveilliance System
        • Safety System
      • Energy Management
        • HVAC System
        • Lighting System
      • Network Management
      • Integrated Workspace Management System
    • Services
      • Consulting
      • Deployment and integration
      • Infrastructure monitoring and management
  • By Type:
    • Residential
    • Commercial
    • Industrial

Market by Smart Utilities

  • By Component:
    • Solutions
      • Advanced metering infrastructure
        • Meter Data Management
        • Meter Data Analytics
        • Smart Meter
        • Others
      • Distribution management system
      • Substation automation
      • Others
    • Services
      • Consulting
      • Deployment and integration
      • Infrastructure monitoring and management
  • By Type:
    • Energy/power
    • Water
    • Gas
    • Others

Market by Smart Citizen Services Type:

  • Smart Healthcare
    • Medical Devices
    • System and Software
    • Services
  • Smart Education
    • Solution
    • Services
  • Smart public safety
    • Solution
    • Services
  • Smart street lighting
    • Solution
    • Services
  • E-governance
    • Solution
    • Services

Market By Region:

  • North America
    • US
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Spain
    • Italy
    • Nordics
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia and New Zealand
    • South East Asia
    • Rest of Asia Pacific
  • Middle East and Africa
    • Middle East
      • United Arab Emirates
      • Kingdom of Saudi Arabia
      • Rest of Middle East
    • Africa
      • South Africa
      • Egypt
      • Nigeria
      • Rest of Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Smart Cities Market Technology Trends:

  • In October 2021, Siemens Mobility, a subsidiary of Siemens, acquired Squills, a leading Software as a Service (SaaS) provider for inventory management, reservation, and ticketing software. This strengthened Siemens’ portfolio of innovative, smart, and comprehensive mobility solutions.
  • In May 2021, Itron and Microsoft collaborated to provide customers with highly scalable cloud-based MDM services.
  • In October 2021, Hitachi partnered with Bao Viet Insurance to drive innovation in the insurance business using AI and medical big data. Bao Viet Insurance would use Hitachi’s technologies to improve health by predicting the risk of developing a disease.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 44)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
           TABLE 1 UNITED STATES DOLLAR, EXCHANGE RATES, 2018–2021
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 50)
    2.1 RESEARCH DATA 
           FIGURE 1 SMART CITIES MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    TABLE 2 LIST OF KEY PRIMARY INTERVIEW PARTICIPANTS
                    2.1.2.1 Breakup of primary profiles
                    2.1.2.2 Key industry insights
    2.2 MARKET BREAKUP AND DATA TRIANGULATION 
           FIGURE 2 DATA TRIANGULATION
    2.3 MARKET SIZE ESTIMATION 
           FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS AND SERVICES OF MARKET
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 - BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF FOCUS AREAS OF MARKET
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2  (DEMAND SIDE): SMART CITIES MARKET
    2.4 MARKET FORECAST 
           TABLE 3 FACTOR ANALYSIS
    2.5 COMPANY EVALUATION MATRIX METHODOLOGY 
           FIGURE 6 COMPANY EVALUATION MATRIX: CRITERIA WEIGHTAGE
    2.6 STARTUP/SME EVALUATION MATRIX METHODOLOGY 
           FIGURE 7 STARTUP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE
    2.7 STUDY ASSUMPTIONS 
    2.8 LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 62)
    FIGURE 8 SMART CITIES MARKET, 2020-2027 
    FIGURE 9 MARKET, REGIONAL AND COUNTRY-WISE SHARES, 2022 
    FIGURE 10 ASIA PACIFIC TO BE BEST MARKET FOR INVESTMENTS DURING FORECAST PERIOD 
 
4 PREMIUM INSIGHTS (Page No. - 67)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS SMART CITIES MARKET 
           FIGURE 11 INCREASED USE OF ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING, GROWING URBANIZATION, AND RESOURCE UTILIZATION TO DRIVE MARKET GROWTH
    4.2 MARKET IN NORTH AMERICA,  BY FOCUS AREA AND COUNTRY 
           FIGURE 12 SMART CITIZEN SERVICES AND UNITED STATES TO ACCOUNT FOR LARGEST SHARES IN MARKET IN 2022
    4.3 ASIA PACIFIC MARKET, 2022 
           FIGURE 13 SMART CITIZEN SERVICES AND CHINA TO ACCOUNT FOR HIGH MARKET SHARES IN ASIA PACIFIC IN 2022
    4.4 MARKET, BY COUNTRY 
           FIGURE 14 INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 70)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 15 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES:  SMART CITIES MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Artificial intelligence and machine learning to accelerate development of smart cities
                    5.2.1.2 Growing urbanization to drive adoption of smart city solutions
                               FIGURE 16 GLOBAL URBAN POPULATION
                    5.2.1.3 Need for efficient management and utilization of resources
                    5.2.1.4 Demand for fast and efficient transport
                    5.2.1.5 Public safety concerns to accelerate smart city adoption
                    5.2.1.6 Need for healthy environment with efficient energy consumption
                               FIGURE 17 GLOBAL CO2 EMISSIONS BY SECTOR, 2020
           5.2.2 RESTRAINTS
                    5.2.2.1 Privacy and security concerns
                    5.2.2.2 High cost of implementation
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Advancements in AI, cloud, IoT, and analytics technologies
                    5.2.3.2 Rise of 5G
                               FIGURE 18 PERCENTAGE OF GLOBAL CONNECTIONS IN 2018 AND 2023
                    5.2.3.3 Use of drones to enforce compliance during pandemics
           5.2.4 CHALLENGES
                    5.2.4.1 Absence of appropriate infrastructure in emerging economies
                               FIGURE 19 STATE OF MOBILE INTERNET CONNECTIVITY, BY REGION, 2020
                    5.2.4.2 Lack of knowledge among people about smart cities
                    5.2.4.3 Disruption in logistics and supply chains
    5.3 CUMULATIVE GROWTH ANALYSIS 
    5.4 ECOSYSTEM 
           TABLE 4 SMART CITIES MARKET: ECOSYSTEM
    5.5 VALUE CHAIN ANALYSIS 
    5.6 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 5 MARKET: PORTER’S FIVE FORCES MODEL
           5.6.1 THREAT OF NEW ENTRANTS
           5.6.2 THREAT OF SUBSTITUTES
           5.6.3 BARGAINING POWER OF BUYERS
           5.6.4 BARGAINING POWER OF SUPPLIERS
           5.6.5 COMPETITIVE RIVALRY
    5.7 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.7.1 KEY STAKEHOLDERS ON BUYING PROCESS
                    FIGURE 20 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
                    TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS (%)
           5.7.2 BUYING CRITERIA
                    FIGURE 21 KEY BUYING CRITERIA FOR TOP THREE END USERS
                    TABLE 7 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
    5.8 TECHNOLOGY ANALYSIS 
           5.8.1 INTRODUCTION
                    5.8.1.1 AI and ML
                    5.8.1.2 IoT
                    5.8.1.3 Big data analytics
                    5.8.1.4 5G
           5.8.2 TRENDS AND DISRUPTIONS IMPACTING BUYERS
                    FIGURE 22 REVENUE SHIFT FOR SMART CITIES MARKET
    5.9 PATENT ANALYSIS 
           5.9.1 METHODOLOGY
           5.9.2 DOCUMENT TYPE
                    TABLE 8 PATENTS FILED, 2019–2022
           5.9.3 INNOVATION AND PATENT APPLICATION
                    FIGURE 23 TOTAL NUMBER OF PATENTS GRANTED ANNUALLY BETWEEN 2019 TO 2022
                    5.9.3.1 Top applicants
                               FIGURE 24 TOP TEN COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2019–2022
    5.10 PRICING ANALYSIS 
           TABLE 9 PRICING ANALYSIS FOR SMART CITIES
    5.11 CASE STUDY ANALYSIS 
           5.11.1 CASE STUDY 1: ABB HELPED FASTNED EXPAND ITS EV FAST CHARGE NETWORK ACROSS EUROPE
           5.11.2 CASE STUDY 2: HONEYWELL ENABLED EFFICIENT FLIGHT ROUTING FOR NEWARK LIBERTY INTERNATIONAL AIRPORT
           5.11.3 CASE STUDY 3: BANE NOR SELECTED THALES TO PROVIDE NEXT-GENERATION NATIONWIDE TRAFFIC MANAGEMENT SYSTEM
           5.11.4 CASE STUDY 4: CURTIN UNIVERSITY ADOPTED HITACHI INTERNET OF THINGS SOLUTION TO IMPLEMENT SMART CAMPUS
           5.11.5 CASE STUDY 5: HUAWEI HELPED QINGHAI-TIBET RAILWAY IMPROVE SURVEILLANCE EFFICIENCY
    5.12 KEY CONFERENCES AND EVENTS IN 2022–2023 
           5.12.1 MARKET: DETAILED LIST OF CONFERENCES AND EVENTS IN 2022–2023
    5.13 REGULATORY COMPLIANCES 
 
6 SMART CITIES MARKET, BY FOCUS AREA (Page No. - 92)
    6.1 INTRODUCTION 
           FIGURE 25 SMART TRANSPORTATION SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 10 MARKET, BY FOCUS AREA, 2016–2021 (USD BILLION)
           TABLE 11 MARKET, BY FOCUS AREA, 2022–2027 (USD BILLION)
 
7 SMART CITIES MARKET, BY SMART TRANSPORTATION (Page No. - 94)
    7.1 INTRODUCTION 
           TABLE 12 SMART TRANSPORTATION MARKET, BY REGION, 2016–2021 (USD BILLION)
           TABLE 13 SMART TRANSPORTATION MARKET, BY REGION, 2022–2027 (USD BILLION)
           7.1.1 SMART TRANSPORTATION: MARKET DRIVERS
    7.2 COMPONENT 
           7.2.1 INCREASING PRESENCE OF SMART TECHNOLOGIES IN SMART TRANSPORTATION
                    TABLE 14 SMART TRANSPORTATION MARKET, BY COMPONENT, 2016–2021 (USD BILLION)
                    TABLE 15 SMART TRANSPORTATION MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
           7.2.2 SOLUTIONS
                    FIGURE 26 PASSENGER INFORMATION MANAGEMENT SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 16 SMART TRANSPORTATION MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
                    TABLE 17 SMART TRANSPORTATION MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
                    7.2.2.1 Smart ticketing
                    7.2.2.2 Traffic management
                               FIGURE 27 PARKING MANAGEMENT SEGMENT TO WITNESS HIGHER CAGR DURING FORECAST PERIOD
                               TABLE 18 TRAFFIC MANAGEMENT: SMART TRANSPORTATION MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                               TABLE 19 TRAFFIC MANAGEMENT: SMART TRANSPORTATION MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                               7.2.2.2.1 Parking management
                               7.2.2.2.2 Traffic surveillance
                    7.2.2.3 Passenger information
                    7.2.2.4 Connected logistics
                    7.2.2.5 Other smart transportation solutions
           7.2.3 SERVICES
                    FIGURE 28 INFRASTRUCTURE MONITORING AND MANAGEMENT SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 20 SMART TRANSPORTATION MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                    TABLE 21 SMART TRANSPORTATION MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                    7.2.3.1 Consulting
                    7.2.3.2 Deployment and integration
                    7.2.3.3 Infrastructure monitoring and management
    7.3 TYPE 
           7.3.1 RAPID INCREASE IN URBAN DEMOGRAPHICS AND GROWING ENVIRONMENTAL CONCERNS
                    FIGURE 29 RAILWAYS SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 22 SMART TRANSPORTATION MARKET, BY TYPE, 2016–2021 (USD BILLION)
                    TABLE 23 SMART TRANSPORTATION MARKET, BY TYPE, 2022–2027 (USD BILLION)
           7.3.2 ROADWAYS
           7.3.3 RAILWAYS
           7.3.4 AIRWAYS
 
8 SMART CITIES MARKET, BY SMART BUILDING (Page No. - 108)
    8.1 INTRODUCTION 
           8.1.1 SMART BUILDING: MARKET DRIVERS
                    TABLE 24 SMART BUILDINGS MARKET, BY REGION, 2016–2021 (USD BILLION)
                    TABLE 25 SMART BUILDINGS MARKET, BY REGION, 2022–2027 (USD BILLION)
    8.2 COMPONENT 
           8.2.1 INCREASING DEMAND FOR ENERGY-SAVING SOLUTIONS AND SERVICES
                    TABLE 26 SMART BUILDINGS MARKET, BY COMPONENT, 2016–2021 (USD BILLION)
                    TABLE 27 SMART BUILDINGS MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
           8.2.2 SOLUTIONS
                    FIGURE 30 ENERGY MANAGEMENT SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 28 SMART BUILDINGS MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
                    TABLE 29 SMART BUILDINGS MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
                    8.2.2.1 Building infrastructure management
                               TABLE 30 BUILDING INFRASTRUCTURE MANAGEMENT: SMART BUILDINGS MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                               TABLE 31 BUILDING INFRASTRUCTURE MANAGEMENT: SMART BUILDINGS MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                               8.2.2.1.1 Parking management system
                               8.2.2.1.2 Smart water management system
                               8.2.2.1.3 Elevators and escalators management system
                    8.2.2.2 Security and Emergency Management
                               TABLE 32 SECURITY AND EMERGENCY MANAGEMENT: SMART BUILDINGS MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                               TABLE 33 SECURITY AND EMERGENCY MANAGEMENT: SMART BUILDINGS MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                               8.2.2.2.1 Access control system
                               8.2.2.2.2 Video surveillance system
                               8.2.2.2.3 Safety system
                    8.2.2.3 Energy management
                               TABLE 34 ENERGY MANAGEMENT: SMART BUILDINGS MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                               TABLE 35 ENERGY MANAGEMENT: SMART BUILDINGS MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                               8.2.2.3.1 HVAC control systems
                               8.2.2.3.2 Lighting systems
                    8.2.2.4 Network management
                    8.2.2.5 Integrated workplace management system
           8.2.3 SERVICES
                    FIGURE 31 DEPLOYMENT AND INTEGRATION SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 36 SMART BUILDINGS MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                    TABLE 37 SMART BUILDINGS MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                    8.2.3.1 Consulting
                    8.2.3.2 Deployment and integration
                    8.2.3.3 Infrastructure monitoring and management
    8.3 TYPE 
           8.3.1 INCREASED NEED FOR ENERGY-EFFICIENT LIGHTING AND HVAC CONTROL SYSTEMS
                    FIGURE 32 INDUSTRIAL SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 38 SMART BUILDINGS MARKET, BY TYPE, 2016–2021 (USD BILLION)
                    TABLE 39 SMART BUILDINGS MARKET, BY TYPE, 2022–2027 (USD BILLION)
           8.3.2 RESIDENTIAL
           8.3.3 COMMERCIAL
           8.3.4 INDUSTRIAL
 
9 SMART CITIES MARKET, BY SMART UTILITY (Page No. - 121)
    9.1 INTRODUCTION 
           TABLE 40 SMART UTILITIES MARKET, BY REGION, 2016–2021 (USD BILLION)
           TABLE 41 SMART UTILITIES MARKET, BY REGION, 2022–2027 (USD BILLION)
           9.1.1 SMART UTILITY: MARKET DRIVERS
    9.2 COMPONENT 
           9.2.1 DIGITAL TRANSFORMATION IN UTILITY SECTOR TO DRIVE MARKET
                    TABLE 42 SMART UTILITIES MARKET, BY COMPONENT, 2016–2021 (USD BILLION)
                    TABLE 43 SMART UTILITIES MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
           9.2.2 SOLUTIONS
                    FIGURE 33 METER DATA ANALYTICS SYSTEM SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 44 SMART UTILITIES MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
                    TABLE 45 SMART UTILITIES MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
                    9.2.2.1 Advanced metering infrastructure
                               TABLE 46 ADVANCED METERING INFRASTRUCTURE: SMART UTILITIES MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                               TABLE 47 ADVANCED METERING INFRASTRUCTURE: SMART UTILITIES MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                    9.2.2.2 Meter data management
                               9.2.2.2.1 Meter data analytics
                               9.2.2.2.2 Smart meters
                               9.2.2.2.3 Other solutions
                    9.2.2.3 Distribution management system
                    9.2.2.4 Substation automation
                    9.2.2.5 Other smart utilities solutions
           9.2.3 SERVICES
                    FIGURE 34 INFRASTRUCTURE MONITORING AND MANAGEMENT SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 48 SMART UTILITIES MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                    TABLE 49 SMART UTILITIES MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                    9.2.3.1 Consulting
                    9.2.3.2 Deployment and integration
                    9.2.3.3 Infrastructure monitoring and management
    9.3 TYPE 
           9.3.1 INCREASING ADOPTION OF CLOUD-BASED SOLUTIONS
                    FIGURE 35 WATER SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 50 SMART UTILITIES MARKET, BY TYPE, 2016–2021 (USD BILLION)
                    TABLE 51 SMART UTILITIES MARKET, BY TYPE, 2022–2027 (USD BILLION)
           9.3.2 ENERGY
           9.3.3 GAS
           9.3.4 WATER
           9.3.5 OTHER TYPES
 
10 SMART CITIES MARKET, BY SMART CITIZEN SERVICE (Page No. - 134)
     10.1 INTRODUCTION 
               FIGURE 36 SMART HEALTHCARE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
               TABLE 52 SMART CITIZEN SERVICES MARKET, BY TYPE, 2016–2021 (USD BILLION)
               TABLE 53 SMART CITIZEN SERVICES MARKET, BY TYPE, 2022–2027 (USD BILLION)
               TABLE 54 SMART CITIZEN SERVICES MARKET, BY REGION, 2016–2021 (USD BILLION)
               TABLE 55 SMART CITIZEN SERVICES MARKET, BY REGION, 2022–2027 (USD BILLION)
             10.1.1 SMART CITIZEN SERVICE: MARKET DRIVERS
     10.2 SMART HEALTHCARE 
             10.2.1 GROWING DIGITALIZATION, INCREASING CONNECTIVITY, AND INNOVATION TO DRIVE MARKET
                       TABLE 56 SMART HEALTHCARE: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 57 SMART HEALTHCARE: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 58 SMART HEALTHCARE: SMART CITIZEN SERVICES MARKET, BY REGION,  2016–2021 (USD BILLION)
                       TABLE 59 SMART HEALTHCARE: SMART CITIZEN SERVICES MARKET, BY REGION,  2022–2027 (USD BILLION)
             10.2.2 MEDICAL DEVICES
             10.2.3 SYSTEMS AND SOFTWARE
             10.2.4 SERVICES
     10.3 SMART EDUCATION 
             10.3.1 RISE IN ADOPTION OF MOBILE DEVICES AND USE OF INTERNET OF THINGS TO ENHANCE LEARNING EXPERIENCE
                       TABLE 60 SMART EDUCATION: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 61 SMART EDUCATION: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 62 SMART EDUCATION: SMART CITIZEN SERVICES MARKET, BY REGION,  2016–2021 (USD BILLION)
                       TABLE 63 SMART EDUCATION: SMART CITIZEN SERVICES MARKET, BY REGION,  2022–2027 (USD BILLION)
             10.3.2 SOLUTIONS
             10.3.3 SERVICES
     10.4 SMART PUBLIC SAFETY 
             10.4.1 RISE IN SECURITY BREACHES TO DRIVE DEMAND FOR SMART PUBLIC SAFETY SOLUTIONS
                       TABLE 64 SMART PUBLIC SAFETY: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 65 SMART PUBLIC SAFETY: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 66 SMART PUBLIC SAFETY: SMART CITIZEN SERVICES MARKET, BY REGION,  2016–2021 (USD BILLION)
                       TABLE 67 SMART PUBLIC SAFETY: SMART CITIZEN SERVICES MARKET, BY REGION,  2022–2027 (USD BILLION)
             10.4.2 SOLUTIONS
             10.4.3 SERVICES
     10.5 SMART STREET LIGHTING 
             10.5.1 SMART PARKING, TRAFFIC VIDEO SURVEILLANCE, AND AIR QUALITY MONITORING TO DRIVE DEMAND FOR SOLUTIONS
                       TABLE 68 SMART STREET LIGHTING: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 69 SMART STREET LIGHTING: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 70 SMART STREET LIGHTING: SMART CITIZEN SERVICES MARKET, BY REGION,  2016–2021 (USD BILLION)
                       TABLE 71 SMART STREET LIGHTING: SMART CITIZEN SERVICES MARKET, BY REGION,  2022–2027 (USD BILLION)
     10.6 EGOVERNANCE 
             10.6.1 ENHANCING TRANSPARENCY AND DECREASING BURDEN OF KEEPING PAPER RECORDS
                       TABLE 72 SMART EGOVERNANCE: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 73 SMART EGOVERNANCE: SMART CITIZEN SERVICES MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 74 SMART EGOVERNANCE: SMART CITIZEN SERVICES MARKET, BY REGION,  2016–2021 (USD BILLION)
                       TABLE 75 SMART EGOVERNANCE: SMART CITIZEN SERVICES MARKET, BY REGION,  2022–2027 (USD BILLION)
             10.6.2 SOLUTIONS
             10.6.3 SERVICES
 
11 SMART CITIES MARKET, BY REGION (Page No. - 145)
     11.1 INTRODUCTION 
               FIGURE 37 MARKET: REGIONAL SNAPSHOT
               TABLE 76 MARKET, BY REGION, 2016–2021 (USD BILLION)
               TABLE 77 MARKET, BY REGION, 2022–2027 (USD BILLION)
     11.2 NORTH AMERICA 
             11.2.1 PESTLE ANALYSIS: NORTH AMERICA
                       FIGURE 38 NORTH AMERICA: MARKET SNAPSHOT
                       TABLE 78 NORTH AMERICA: SMART CITIES MARKET, BY FOCUS AREA, 2016–2021 (USD BILLION)
                       TABLE 79 NORTH AMERICA: MARKET, BY FOCUS AREA, 2022–2027 (USD BILLION)
                       TABLE 80 NORTH AMERICA: SMART TRANSPORTATION MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 81 NORTH AMERICA: SMART TRANSPORTATION MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 82 NORTH AMERICA: SMART TRANSPORTATION MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                       TABLE 83 NORTH AMERICA: SMART TRANSPORTATION MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                       TABLE 84 NORTH AMERICA: SMART TRANSPORTATION MARKET, BY SERVICE,  2016–2021 (USD BILLION)
                       TABLE 85 NORTH AMERICA: SMART TRANSPORTATION MARKET, BY SERVICE,  2022–2027 (USD BILLION)
                       TABLE 86 NORTH AMERICA: SMART TRANSPORTATION MARKET, BY TYPE,  2016–2021 (USD BILLION)
                       TABLE 87 NORTH AMERICA: SMART TRANSPORTATION MARKET, BY TYPE,  2022–2027 (USD BILLION)
                       TABLE 88 NORTH AMERICA: SMART BUILDINGS MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 89 NORTH AMERICA: SMART BUILDINGS MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 90 NORTH AMERICA: SMART BUILDINGS MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                       TABLE 91 NORTH AMERICA: SMART BUILDINGS MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                       TABLE 92 NORTH AMERICA: SMART BUILDINGS MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                       TABLE 93 NORTH AMERICA: SMART BUILDINGS MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                       TABLE 94 NORTH AMERICA: SMART BUILDINGS MARKET, BY TYPE, 2016–2021 (USD BILLION)
                       TABLE 95 NORTH AMERICA: SMART BUILDINGS MARKET, BY TYPE, 2022–2027 (USD BILLION)
                       TABLE 96 NORTH AMERICA: SMART UTILITIES MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 97 NORTH AMERICA: SMART UTILITIES MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 98 NORTH AMERICA: SMART UTILITIES MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
                       TABLE 99 NORTH AMERICA: SMART UTILITIES MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
                       TABLE 100 NORTH AMERICA: SMART UTILITIES MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                       TABLE 101 NORTH AMERICA: SMART UTILITIES MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                       TABLE 102 NORTH AMERICA: SMART UTILITIES MARKET, BY TYPE, 2016–2021 (USD BILLION)
                       TABLE 103 NORTH AMERICA: SMART UTILITIES MARKET, BY TYPE, 2022–2027 (USD BILLION)
                       TABLE 104 NORTH AMERICA: SMART CITIZEN SERVICES MARKET, BY TYPE,  2016–2021 (USD BILLION)
                       TABLE 105 NORTH AMERICA: SMART CITIZEN SERVICES MARKET, BY TYPE,  2022–2027 (USD BILLION)
                       TABLE 106 NORTH AMERICA: SMART CITIES MARKET, BY COUNTRY, 2016–2021 (USD BILLION)
                       TABLE 107 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
             11.2.2 US
                       11.2.2.1 Highest adoption of IoT to lead to market growth
             11.2.3 CANADA
                       11.2.3.1 Increased investments in industrial development to boost market growth
     11.3 EUROPE 
               TABLE 108 EUROPE: SMART CITIES MARKET, BY FOCUS AREA, 2016–2021 (USD BILLION)
               TABLE 109 EUROPE: MARKET, BY FOCUS AREA, 2022–2027 (USD BILLION)
               TABLE 110 EUROPE: SMART TRANSPORTATION MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
               TABLE 111 EUROPE: SMART TRANSPORTATION MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
               TABLE 112 EUROPE: SMART TRANSPORTATION MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
               TABLE 113 EUROPE: SMART TRANSPORTATION MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
               TABLE 114 EUROPE: SMART TRANSPORTATION MARKET, BY SERVICE, 2016–2021 (USD BILLION)
               TABLE 115 EUROPE: SMART TRANSPORTATION MARKET, BY SERVICE, 2022–2027 (USD BILLION)
               TABLE 116 EUROPE: SMART TRANSPORTATION MARKET, BY TYPE, 2016–2021 (USD BILLION)
               TABLE 117 EUROPE: SMART TRANSPORTATION MARKET, BY TYPE, 2022–2027 (USD BILLION)
               TABLE 118 EUROPE: SMART BUILDINGS MARKET, BY COMPONENT, 2016–2021 (USD BILLION)
               TABLE 119 EUROPE: SMART BUILDINGS MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
               TABLE 120 EUROPE: SMART BUILDINGS MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
               TABLE 121 EUROPE: SMART BUILDINGS MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
               TABLE 122 EUROPE: SMART BUILDINGS MARKET, BY SERVICE, 2016–2021 (USD BILLION)
               TABLE 123 EUROPE: SMART BUILDINGS MARKET, BY SERVICE, 2022–2027 (USD BILLION)
               TABLE 124 EUROPE: SMART BUILDINGS MARKET, BY TYPE, 2016–2021 (USD BILLION)
               TABLE 125 EUROPE: SMART BUILDINGS MARKET, BY TYPE, 2022–2027 (USD BILLION)
               TABLE 126 EUROPE: SMART UTILITIES MARKET, BY COMPONENT, 2016–2021 (USD BILLION)
               TABLE 127 EUROPE: SMART UTILITIES MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
               TABLE 128 EUROPE: SMART UTILITIES MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
               TABLE 129 EUROPE: SMART UTILITIES MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
               TABLE 130 EUROPE: SMART UTILITIES MARKET, BY SERVICE, 2016–2021 (USD BILLION)
               TABLE 131 EUROPE: SMART UTILITIES MARKET, BY SERVICE, 2022–2027 (USD BILLION)
               TABLE 132 EUROPE: SMART UTILITIES MARKET, BY TYPE, 2016–2021 (USD BILLION)
               TABLE 133 EUROPE: SMART UTILITIES MARKET, BY TYPE, 2022–2027 (USD BILLION)
               TABLE 134 EUROPE: SMART CITIZEN SERVICES MARKET, BY TYPE, 2016–2021 (USD BILLION)
               TABLE 135 EUROPE: SMART CITIZEN SERVICES MARKET, BY TYPE, 2022–2027 (USD BILLION)
               TABLE 136 EUROPE: SMART CITIES MARKET, BY COUNTRY, 2016–2021 (USD BILLION)
               TABLE 137 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
             11.3.1 UK
                       11.3.1.1 Higher adoption rate of smart technologies to boost smart cities solutions’ growth
             11.3.2 GERMANY
                       11.3.2.1 Increasing adoption of smart citizen services-related technologies to drive market
             11.3.3 FRANCE
                       11.3.3.1 Strong hold on infrastructure development to drive market
             11.3.4 SPAIN
                       11.3.4.1 Strong economy, high standard of living, and improved quality of life to boost market growth
             11.3.5 ITALY
                       11.3.5.1 High adoption of latest technologies to boost market growth
             11.3.6 NORDICS
                       11.3.6.1 Promoting sustainable development with smart cities solutions to drive market
             11.3.7 REST OF EUROPE
     11.4 ASIA PACIFIC 
             11.4.1 PESTLE ANALYSIS: ASIA PACIFIC
                       FIGURE 39 ASIA PACIFIC: MARKET SNAPSHOT
                       TABLE 138 ASIA PACIFIC: SMART CITIES MARKET, BY FOCUS AREA, 2016–2021 (USD BILLION)
                       TABLE 139 ASIA PACIFIC: MARKET, BY FOCUS AREA, 2022–2027 (USD BILLION)
                       TABLE 140 ASIA PACIFIC: SMART TRANSPORTATION MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 141 ASIA PACIFIC: SMART TRANSPORTATION MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 142 ASIA PACIFIC: SMART TRANSPORTATION MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                       TABLE 143 ASIA PACIFIC: SMART TRANSPORTATION MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                       TABLE 144 ASIA PACIFIC: SMART TRANSPORTATION MARKET, BY SERVICE,  2016–2021 (USD BILLION)
                       TABLE 145 ASIA PACIFIC: SMART TRANSPORTATION MARKET, BY SERVICE,  2022–2027 (USD BILLION)
                       TABLE 146 ASIA PACIFIC: SMART TRANSPORTATION MARKET, BY TYPE, 2016–2021 (USD BILLION)
                       TABLE 147 ASIA PACIFIC: SMART TRANSPORTATION MARKET, BY TYPE, 2022–2027 (USD BILLION)
                       TABLE 148 ASIA PACIFIC: SMART BUILDINGS MARKET, BY COMPONENT, 2016–2021 (USD BILLION)
                       TABLE 149 ASIA PACIFIC: SMART BUILDINGS MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
                       TABLE 150 ASIA PACIFIC: SMART BUILDINGS MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
                       TABLE 151 ASIA PACIFIC: SMART BUILDINGS MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
                       TABLE 152 ASIA PACIFIC: SMART BUILDINGS MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                       TABLE 153 ASIA PACIFIC: SMART BUILDINGS MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                       TABLE 154 ASIA PACIFIC: SMART BUILDINGS MARKET, BY TYPE, 2016–2021 (USD BILLION)
                       TABLE 155 ASIA PACIFIC: SMART BUILDINGS MARKET, BY TYPE, 2022–2027 (USD BILLION)
                       TABLE 156 ASIA PACIFIC: SMART UTILITIES MARKET, BY COMPONENT, 2016–2021 (USD BILLION)
                       TABLE 157 ASIA PACIFIC: SMART UTILITIES MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
                       TABLE 158 ASIA PACIFIC: SMART UTILITIES MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
                       TABLE 159 ASIA PACIFIC: SMART UTILITIES MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
                       TABLE 160 ASIA PACIFIC: SMART UTILITIES MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                       TABLE 161 ASIA PACIFIC: SMART UTILITIES MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                       TABLE 162 ASIA PACIFIC: SMART UTILITIES MARKET, BY TYPE, 2016–2021 (USD BILLION)
                       TABLE 163 ASIA PACIFIC: SMART UTILITIES MARKET, BY TYPE, 2022–2027 (USD BILLION)
                       TABLE 164 ASIA PACIFIC: SMART CITIZEN SERVICES MARKET, BY TYPE, 2016–2021 (USD BILLION)
                       TABLE 165 ASIA PACIFIC: SMART CITIZEN SERVICES MARKET, BY TYPE, 2022–2027 (USD BILLION)
                       TABLE 166 ASIA PACIFIC: SMART CITIES MARKET, BY COUNTRY, 2016–2021 (USD BILLION)
                       TABLE 167 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
             11.4.2 CHINA
                       11.4.2.1 Global leader in smart city initiatives and largest 5G market
             11.4.3 JAPAN
                       11.4.3.1 Leader in smart city governance
             11.4.4 SOUTH KOREA
                       11.4.4.1 Home to world’s first totally smart city
             11.4.5 INDIA
                       11.4.5.1 Growing urban population to boost market growth
             11.4.6 AUSTRALIA & NEW ZEALAND
                       11.4.6.1 Knowledge-based economy to offer growth opportunity for market
             11.4.7 SOUTHEAST ASIA
                       11.4.7.1 Rapid urbanization to drive market
             11.4.8 REST OF ASIA PACIFIC
     11.5 MIDDLE EAST & AFRICA 
             11.5.1 PESTLE ANALYSIS: MIDDLE EAST & AFRICA
                       TABLE 168 MIDDLE EAST & AFRICA: SMART CITIES MARKET, BY FOCUS AREA,  2016–2021 (USD BILLION)
                       TABLE 169 MIDDLE EAST & AFRICA: MARKET, BY FOCUS AREA,  2022–2027 (USD BILLION)
                       TABLE 170 MIDDLE EAST & AFRICA: SMART TRANSPORTATION MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 171 MIDDLE EAST & AFRICA: SMART TRANSPORTATION MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 172 MIDDLE EAST & AFRICA: SMART TRANSPORTATION MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                       TABLE 173 MIDDLE EAST & AFRICA: SMART TRANSPORTATION MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                       TABLE 174 MIDDLE EAST & AFRICA: SMART TRANSPORTATION MARKET, BY SERVICE,  2016–2021 (USD BILLION)
                       TABLE 175 MIDDLE EAST & AFRICA: SMART TRANSPORTATION MARKET, BY SERVICE,  2022–2027 (USD BILLION)
                       TABLE 176 MIDDLE EAST & AFRICA: SMART TRANSPORTATION MARKET, BY TYPE,  2016–2021 (USD BILLION)
                       TABLE 177 MIDDLE EAST & AFRICA: SMART TRANSPORTATION MARKET, BY TYPE,  2022–2027 (USD BILLION)
                       TABLE 178 MIDDLE EAST & AFRICA: SMART BUILDINGS MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 179 MIDDLE EAST & AFRICA: SMART BUILDINGS MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 180 MIDDLE EAST & AFRICA: SMART BUILDINGS MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                       TABLE 181 MIDDLE EAST & AFRICA: SMART BUILDINGS MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                       TABLE 182 MIDDLE EAST & AFRICA: SMART BUILDINGS MARKET, BY SERVICE,  2016–2021 (USD BILLION)
                       TABLE 183 MIDDLE EAST & AFRICA: SMART BUILDINGS MARKET, BY SERVICE,  2022–2027 (USD BILLION)
                       TABLE 184 MIDDLE EAST & AFRICA: SMART BUILDINGS MARKET, BY TYPE,  2016–2021 (USD BILLION)
                       TABLE 185 MIDDLE EAST & AFRICA: SMART BUILDINGS MARKET, BY TYPE,  2022–2027 (USD BILLION)
                       TABLE 186 MIDDLE EAST & AFRICA: SMART UTILITIES MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 187 MIDDLE EAST & AFRICA: SMART UTILITIES MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 188 MIDDLE EAST & AFRICA: SMART UTILITIES MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                       TABLE 189 MIDDLE EAST & AFRICA: SMART UTILITIES MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                       TABLE 190 MIDDLE EAST & AFRICA: SMART UTILITIES MARKET, BY SERVICE,  2016–2021 (USD BILLION)
                       TABLE 191 MIDDLE EAST & AFRICA: SMART UTILITIES MARKET, BY SERVICE,  2022–2027 (USD BILLION)
                       TABLE 192 MIDDLE EAST & AFRICA: SMART UTILITIES MARKET, BY TYPE,  2016–2021 (USD BILLION)
                       TABLE 193 MIDDLE EAST & AFRICA: SMART UTILITIES MARKET, BY TYPE,  2022–2027 (USD BILLION)
                       TABLE 194 MIDDLE EAST & AFRICA: SMART CITIZEN SERVICES MARKET, BY TYPE,  2016–2021 (USD BILLION)
                       TABLE 195 MIDDLE EAST & AFRICA: SMART CITIZEN SERVICES MARKET, BY TYPE,  2022–2027 (USD BILLION)
                       TABLE 196 MIDDLE EAST: SMART CITIES MARKET, BY COUNTRY, 2016–2021 (USD BILLION)
                       TABLE 197 MIDDLE EAST: MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
                       TABLE 198 AFRICA: MARKET, BY COUNTRY, 2016–2021 (USD BILLION)
                       TABLE 199 AFRICA: MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
             11.5.2 UAE
                       11.5.2.1 Cities to have environment-friendly business practices, paperless government services, and city-wide internet connectivity
             11.5.3 KSA
                       11.5.3.1 Planning of AI-powered city with flying cabs and artificial moon to drive smart cities market
             11.5.4 REST OF MIDDLE EAST
             11.5.5 SOUTH AFRICA
                       11.5.5.1 Advancement in transportation and wifi projects to boost market growth
             11.5.6 EGYPT
                       11.5.6.1 Developing people-centered digital policies
             11.5.7 NIGERIA
                       11.5.7.1 Rising urbanization to raise demand for smart cities
             11.5.8 REST OF AFRICA
     11.6 LATIN AMERICA 
             11.6.1 PESTLE ANALYSIS: LATIN AMERICA
                       TABLE 200 LATIN AMERICA: SMART CITIES MARKET, BY FOCUS AREA, 2016–2021 (USD BILLION)
                       TABLE 201 LATIN AMERICA: SMART CITIES MARKET, BY FOCUS AREA, 2022–2027 (USD BILLION)
                       TABLE 202 LATIN AMERICA: SMART TRANSPORTATION MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 203 LATIN AMERICA: SMART TRANSPORTATION MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 204 LATIN AMERICA: SMART TRANSPORTATION MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                       TABLE 205 LATIN AMERICA: SMART TRANSPORTATION MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                       TABLE 206 LATIN AMERICA: SMART TRANSPORTATION MARKET, BY SERVICE,  2016–2021 (USD BILLION)
                       TABLE 207 LATIN AMERICA: SMART TRANSPORTATION MARKET, BY SERVICE,  2022–2027 (USD BILLION)
                       TABLE 208 LATIN AMERICA: SMART TRANSPORTATION MARKET, BY TYPE,  2016–2021 (USD BILLION)
                       TABLE 209 LATIN AMERICA: SMART TRANSPORTATION MARKET, BY TYPE,  2022–2027 (USD BILLION)
                       TABLE 210 LATIN AMERICA: SMART BUILDINGS MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 211 LATIN AMERICA: SMART BUILDINGS MARKET, BY COMPONENT,  2022–2027 (USD BILLION)
                       TABLE 212 LATIN AMERICA: SMART BUILDINGS MARKET, BY SOLUTION,  2016–2021 (USD BILLION)
                       TABLE 213 LATIN AMERICA: SMART BUILDINGS MARKET, BY SOLUTION,  2022–2027 (USD BILLION)
                       TABLE 214 LATIN AMERICA: SMART BUILDINGS MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                       TABLE 215 LATIN AMERICA: SMART BUILDINGS MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                       TABLE 216 LATIN AMERICA: SMART BUILDINGS MARKET, BY TYPE, 2016–2021 (USD BILLION)
                       TABLE 217 LATIN AMERICA: SMART BUILDINGS MARKET, BY TYPE, 2022–2027 (USD BILLION)
                       TABLE 218 LATIN AMERICA: SMART UTILITIES MARKET, BY COMPONENT,  2016–2021 (USD BILLION)
                       TABLE 219 LATIN AMERICA: SMART UTILITIES MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
                       TABLE 220 LATIN AMERICA: SMART UTILITIES MARKET, BY SOLUTION, 2016–2021 (USD BILLION)
                       TABLE 221 LATIN AMERICA: SMART UTILITIES MARKET, BY SOLUTION, 2022–2027 (USD BILLION)
                       TABLE 222 LATIN AMERICA: SMART UTILITIES MARKET, BY SERVICE, 2016–2021 (USD BILLION)
                       TABLE 223 LATIN AMERICA: SMART UTILITIES MARKET, BY SERVICE, 2022–2027 (USD BILLION)
                       TABLE 224 LATIN AMERICA: SMART UTILITIES MARKET, BY TYPE, 2016–2021 (USD BILLION)
                       TABLE 225 LATIN AMERICA: SMART UTILITIES MARKET, BY TYPE, 2022–2027 (USD BILLION)
                       TABLE 226 LATIN AMERICA: SMART CITIZEN SERVICES MARKET, BY TYPE,  2016–2021 (USD BILLION)
                       TABLE 227 LATIN AMERICA: SMART CITIZEN SERVICES MARKET, BY TYPE,  2022–2027 (USD BILLION)
                       TABLE 228 LATIN AMERICA: SMART CITIES MARKET, BY COUNTRY, 2016–2021 (USD BILLION)
                       TABLE 229 LATIN AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD BILLION)
             11.6.2 BRAZIL
                       11.6.2.1 High foreign direct investment and presence of large enterprises to boost market growth
             11.6.3 MEXICO
                       11.6.3.1 Surge in number of smart city projects to boost market growth
             11.6.4 REST OF LATIN AMERICA
 
12 COMPETITIVE LANDSCAPE (Page No. - 210)
     12.1 OVERVIEW 
     12.2 MARKET EVALUATION FRAMEWORK 
               FIGURE 40 MARKET EVALUATION FRAMEWORK, 2019–2021
     12.3 KEY MARKET DEVELOPMENTS 
             12.3.1 PRODUCT LAUNCHES AND ENHANCEMENTS
                       TABLE 230 PRODUCT LAUNCHES AND PRODUCT ENHANCEMENTS, 2019–2021
             12.3.2 DEALS
                       TABLE 231 DEALS, 2019–2021
             12.3.3 OTHERS
                       TABLE 232 OTHERS, 2019–2021
     12.4 MARKET SHARE ANALYSIS OF TOP PLAYERS 
               TABLE 233 SMART CITIES MARKET: DEGREE OF COMPETITION
               FIGURE 41 MARKET SHARE ANALYSIS OF COMPANIES
     12.5 HISTORICAL REVENUE ANALYSIS 
               FIGURE 42 HISTORICAL REVENUE ANALYSIS, 2017-2021
     12.6 COMPANY EVALUATION MATRIX 
     12.7 COMPANY EVALUATION QUADRANT METHODOLOGY AND DEFINITIONS 
               TABLE 234 PRODUCT FOOTPRINT WEIGHTAGE
             12.7.1 STARS
             12.7.2 EMERGING LEADERS
             12.7.3 PERVASIVE PLAYERS
             12.7.4 PARTICIPANTS
                       FIGURE 43 MARKET: COMPANY EVALUATION MATRIX (2022)
     12.8 COMPANY PRODUCT FOOTPRINT ANALYSIS 
               TABLE 235 COMPANY PRODUCT FOOTPRINT
               TABLE 236 APPLICATION FOOTPRINT
               TABLE 237 INDUSTRY FOOTPRINT
               TABLE 238 REGIONAL FOOTPRINT
     12.9 COMPANY MARKET RANKING ANALYSIS 
               FIGURE 44 RANKING OF KEY PLAYERS IN SMART CITIES MARKET (2022)
     12.10 STARUP/SME EVALUATION MATRIX METHODOLOGY AND DEFINITIONS 
               FIGURE 45 STARTUPS/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE
               12.10.1 PROGRESSIVE COMPANIES
               12.10.2 RESPONSIVE COMPANIES
               12.10.3 DYNAMIC COMPANIES
               12.10.4 STARTING BLOCKS
                                   FIGURE 46 MARKET (GLOBAL): STARTUP/SME EVALUATION MATRIX, 2022
     12.11 COMPETITIVE BENCHMARKING FOR SME/STARTUPS 
                       TABLE 239 MARKET: DETAILED LIST OF KEY STARTUP/SMES
                       TABLE 240 SMART CITIES MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES
 
13 COMPANY PROFILES (Page No. - 228)
     13.1 MAJOR PLAYERS 
(Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Right to win, Strategic choices made, and Weaknesses and competitive threats)*
             13.1.1 SIEMENS
                       TABLE 241 SIEMENS: BUSINESS OVERVIEW
                       FIGURE 47 SIEMENS: COMPANY SNAPSHOT
                       TABLE 242 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 243 SIEMENS: PRODUCT LAUNCHES
                       TABLE 244 SIEMENS: DEALS
             13.1.2 CISCO
                       TABLE 245 CISCO: BUSINESS OVERVIEW
                       FIGURE 48 CISCO: COMPANY SNAPSHOT
                       TABLE 246 CISCO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 247 CISCO: PRODUCT LAUNCHES
                       TABLE 248 CISCO: DEALS
             13.1.3 HITACHI
                       TABLE 249 HITACHI: BUSINESS OVERVIEW
                       FIGURE 49 HITACHI: COMPANY SNAPSHOT
                       TABLE 250 HITACHI: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 251 HITACHI: PRODUCT LAUNCHES
                       TABLE 252 HITACHI: DEALS
                       TABLE 253 HITACHI: OTHERS
             13.1.4 IBM
                       TABLE 254 IBM: BUSINESS OVERVIEW
                       FIGURE 50 IBM: COMPANY SNAPSHOT
                       TABLE 255 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 256 IBM: PRODUCT LAUNCHES
                       TABLE 257 IBM: DEALS
             13.1.5 MICROSOFT
                       TABLE 258 MICROSOFT: BUSINESS OVERVIEW
                       FIGURE 51 MICROSOFT: COMPANY SNAPSHOT
                       TABLE 259 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 260 MICROSOFT: DEALS
                       TABLE 261 MICROSOFT: OTHERS
             13.1.6 SCHNEIDER ELECTRIC
                       TABLE 262 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
                       FIGURE 52 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
                       TABLE 263 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 264 SCHNEIDER ELECTRIC: NEW SOLUTION/SERVICE LAUNCHES
                       TABLE 265 SCHNEIDER ELECTRIC: DEALS
             13.1.7 HUAWEI
                       TABLE 266 HUAWEI: BUSINESS OVERVIEW
                       FIGURE 53 HUAWEI: COMPANY SNAPSHOT
                       TABLE 267 HUAWEI: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 268 HUAWEI: PRODUCT LAUNCHES
                       TABLE 269 HUAWEI: DEALS
             13.1.8 INTEL
                       TABLE 270 INTEL: BUSINESS OVERVIEW
                       FIGURE 54 INTEL: COMPANY SNAPSHOT
                       TABLE 271 INTEL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 272 INTEL: PRODUCT LAUNCHES
                       TABLE 273 INTEL: DEALS
             13.1.9 NEC
                       TABLE 274 NEC: BUSINESS OVERVIEW
                       FIGURE 55 NEC: COMPANY SNAPSHOT
                       TABLE 275 NEC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 276 NEC: PRODUCT LAUNCHES
                       TABLE 277 NEC: DEALS
                       TABLE 278 NEC: OTHERS
             13.1.10 ABB
                       TABLE 279 ABB: BUSINESS OVERVIEW
                       FIGURE 56 ABB: COMPANY SNAPSHOT
                       TABLE 280 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 281 ABB: PRODUCT LAUNCHES
                       TABLE 282 ABB: DEALS
                       TABLE 283 ABB: OTHERS
             13.1.11 ERICSSON
                       TABLE 284 ERICSSON: BUSINESS OVERVIEW
                       FIGURE 57 ERICSSON: COMPANY SNAPSHOT
                       TABLE 285 ERICSSON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 286 ERICSSON: DEALS
     13.2 OTHER PLAYERS 
             13.2.1 ORACLE
             13.2.2 FUJITSU
             13.2.3 HONEYWELL
             13.2.4 ACCENTURE
             13.2.5 VODAFONE
             13.2.6 AWS
             13.2.7 THALES
             13.2.8 SIGNIFY
             13.2.9 KAPSCH
             13.2.10 MOTOROLA
             13.2.11 GE
             13.2.12 GOOGLE
             13.2.13 TCS
             13.2.14 AT&T
             13.2.15 NOKIA
             13.2.16 SAMSUNG
             13.2.17 SAP
             13.2.18 TOMTOM
     13.3 STARTUP/SMES 
             13.3.1 APPYWAY
             13.3.2 KETOS
             13.3.3 GAIA
             13.3.4 TAKADU
             13.3.5 FLAMENCOTECH
             13.3.6 XENIUS
             13.3.7 BRIGHT CITIES
             13.3.8 MYADTECH
             13.3.9 ZENCITY
             13.3.10 IXDEN
*Details on Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Right to win, Strategic choices made, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
 
14 ADJACENT/RELATED MARKETS (Page No. - 297)
     14.1 INTRODUCTION 
             14.1.1 LIMITATIONS
     14.2 IOT IN SMART CITIES MARKET – GLOBAL FORECAST TO 2026 
             14.2.1 MARKET DEFINITION
             14.2.2 MARKET OVERVIEW
                       14.2.2.1 IoT in market, by offering
                                   TABLE 287 IOT IN MARKET, BY OFFERING, 2016–2020 (USD BILLION)
                                   TABLE 288 IOT IN SMART CITES MARKET, BY OFFERING, 2021–2026 (USD BILLION)
                       14.2.2.2 IoT in market, by solution
                                   TABLE 289 IOT IN MARKET, BY SOLUTION, 2016–2020 (USD BILLION)
                                   TABLE 290 IOT IN MARKET, BY SOLUTION, 2021–2026 (USD BILLION)
                       14.2.2.3 IoT in market, by service
                                   TABLE 291 SERVICES: IOT IN MARKET, BY TYPE, 2016–2020 (USD BILLION)
                                   TABLE 292 SERVICES: IOT IN SMART CITIES MARKET, BY TYPE, 2021–2026 (USD BILLION)
                                   TABLE 293 PROFESSIONAL SERVICES: IOT IN MARKET, BY TYPE,  2016–2020 (USD BILLION)
                                   TABLE 294 PROFESSIONAL SERVICES: IOT IN MARKET, BY TYPE,  2021–2026 (USD BILLION)
                       14.2.2.4 IoT in market, by application
                                   TABLE 295 IOT IN MARKET, BY APPLICATION, 2016–2020 (USD BILLION)
                                   TABLE 296 IOT IN MARKET, BY APPLICATION, 2021–2026 (USD BILLION)
                       14.2.2.5 IoT in market, by region
                                   TABLE 297 IOT IN MARKET, BY REGION, 2016–2020 (USD BILLION)
                                   TABLE 298 IOT IN MARKET, BY REGION, 2021–2026 (USD BILLION)
     14.3 SMART BUILDINGS MARKET — GLOBAL FORECAST TO 2026 
             14.3.1 MARKET DEFINITION
             14.3.2 MARKET OVERVIEW
                       14.3.2.1 Smart buildings market, by component
                                   TABLE 299 SMART BUILDINGS MARKET, BY COMPONENT, 2017–2020 (USD BILLION)
                                   TABLE 300 SMART BUILDINGS MARKET, BY COMPONENT, 2021–2026 (USD BILLION)
                       14.3.2.2 Smart buildings market, by solution
                                   TABLE 301 SMART BUILDING SOLUTIONS MARKET, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 302 SMART BUILDING SOLUTIONS MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       14.3.2.3 Smart buildings market, by service
                                   TABLE 303 SMART BUILDING SERVICES MARKET, BY TYPE, 2017–2020 (USD BILLION)
                                   TABLE 304 SMART BUILDING SERVICES MARKET, BY TYPE, 2021–2026 (USD BILLION)
                       14.3.2.4 Smart buildings market, by building type
                                   TABLE 305 SMART BUILDINGS MARKET, BY BUILDING TYPE, 2017–2020 (USD MILLION)
                                   TABLE 306 SMART BUILDINGS MARKET, BY BUILDING TYPE, 2021–2026 (USD MILLION)
                       14.3.2.5 Smart buildings market, by region
                                   TABLE 307 SMART BUILDINGS MARKET, BY REGION, 2017–2020 (USD MILLION)
                                   TABLE 308 SMART BUILDINGS MARKET, BY REGION, 2021–2026 (USD MILLION)
     14.4 SMART CITY PLATFORMS MARKET – GLOBAL FORECAST TO 2026 
             14.4.1 MARKET DEFINITION
             14.4.2 MARKET OVERVIEW
                       14.4.2.1 Smart city platforms market, by offering
                                   TABLE 309 SMART CITY PLATFORMS MARKET, BY OFFERING, 2016–2020 (USD BILLION)
                                   TABLE 310 SMART CITY PLATFORMS MARKET, BY OFFERING, 2021–2026 (USD BILLION)
                       14.4.2.2 Smart city platforms market, by delivery model
                                   TABLE 311 SMART CITY PLATFORMS MARKET, BY DELIVERY MODEL, 2016–2020 (USD BILLION)
                                   TABLE 312 SMART CITY PLATFORMS MARKET, BY DELIVERY MODEL, 2021–2026 (USD BILLION)
                       14.4.2.3 Smart city platforms market, by region
                                   TABLE 313 SMART CITY PLATFORMS MARKET, BY REGION, 2016–2020 (USD BILLION)
                                   TABLE 314 SMART CITY PLATFORMS MARKET, BY REGION, 2021–2026 (USD BILLION)
 
15 APPENDIX (Page No. - 309)
     15.1 DISCUSSION GUIDE 
     15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     15.3 CUSTOMIZATION OPTIONS 
     15.4 RELATED REPORTS 
     15.5 AUTHOR DETAILS 

This research study involved the use of extensive secondary sources, directories, and databases, to identify and collect information useful for this technical, market-oriented, and commercial study of the smart cities market. The primary sources were mainly several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, Service Providers (SPs), technology developers, alliances, and organizations related to the segments of this industry’s value chain. In-depth interviews were conducted with various primary respondents that included key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as assess prospects. The following illustrative figure shows the market research methodology applied in making this report on the smart cities market.

Secondary Research

The market size of the companies offering smart cities hardware, solutions, and services globally was arrived at based on the secondary data available through paid and unpaid sources. It was also arrived at by analyzing the product portfolios of the major companies and rating companies based on their performance and quality.

In the secondary research process, various secondary sources were referred to for identifying and collecting information for the study. The secondary sources included annual reports, press releases, investor presentations of companies, white papers, certified publications, and articles from recognized associations and government publishing sources. Smart city spending of various countries was extracted from the respective sources. The secondary research was mainly used to obtain key information about industry insights, the market’s monetary chain, the overall pool of key players, market classification, and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market and technology-oriented perspectives.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side included industry experts, Chief Experience Officers (CXOs), Vice Presidents (VPs), directors from business development, marketing, and product development/innovation teams, and related key executives from smart cities solution vendors, system integrators, professional service providers, industry associations, and key opinion leaders.

Primary interviews were conducted to gather insights, such as market statistics, data on revenue collected from the hardware, solutions, and services, market breakups, market size estimations, market forecasting, and data triangulation. Primary research also helped understand various trends related to technology, application, deployment, and region. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and installation teams of the governments/end users that use smart cities solutions were interviewed to understand the buyer’s perspective on the suppliers, products, service providers, and their current use of smart cities solutions, which is projected to impact the overall smart cities market growth.

Smart Cities Market Size, and Share

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Smart Cities Market Size Estimation

Multiple approaches were adopted for the estimation of the smart cities market. The first approach involved estimating the market size by the summation of company revenues generated through the different focus areas, smart transportation, smart buildings, smart utilities, and smart citizen services. The top-down and bottom-up approaches were used to estimate and validate the size of the smart cities market and various other dependent subsegments. The research methodology used to estimate the market size included the following details: the key players are not limited to Cisco (US), IBM (US), Siemens (Germany), Microsoft (US), Hitachi (Japan), Schneider Electric (France), Huawei (China), Intel (US), NEC (Japan), ABB (Switzerland), Ericsson (Sweden), and Oracle (US); other players in the market were identified through extensive secondary research, and their revenue contribution in the respective regions was determined through primary and secondary research. The entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights from industry leaders, such as Chief Executive Officers (CEOs), VPs, directors, and marketing executives. All percentage splits and breakups were determined using secondary sources and verified through primary sources.

All the possible parameters that affect the market covered in the research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The data was consolidated and added with detailed inputs and analysis from MarketsandMarkets.

Top-down and Bottom-up Approaches

Smart Cities Market Top-down and Bottom-up Approaches

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Data Triangulation

After arriving at the overall market size using the market size estimation processes explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To determine and forecast the smart cities market based on focus areas; smart transportation, smart buildings, smart utilities, smart citizen services, and region from 2022 to 2027, and analyze various macro and microeconomic factors that affect the market growth.
  • To forecast the size of the market’s segments with respect to five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market.
  • To analyze each submarket with respect to individual growth trends, prospects, and contributions to the total market.
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the smart cities market.
  • To profile key market players (top vendors and startups); provide a comparative analysis based on their business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscape.
  • To track and analyze competitive developments, such as mergers and acquisitions, new product launches and developments, partnerships, agreements, collaborations, business expansions, and Research & Development (R&D) activities, in the market.

Available customizations

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Nov, 2022
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