Smart Cities Market

Leading Companies in Smart Cities Industry - IBM (US) and Hitachi (Japan)

The smart cities market is projected to grow from USD 549.1 billion in 2023 to USD 1,114.4 billion by 2028 at a CAGR of 15.2% during the forecast period. Shifts in demographics, such as an aging population and changing consumer behaviors, drive demand for smart solutions in healthcare, transportation, and housing.

The major vendors covered in the 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), Vodafone (UK), AWS (US), Thales (France), Signify (Netherlands), Kapsch (Austria), Motorola (US), GE (US), Google (US), TCS (India), AT&T (US), Nokia (Finland), Samsung (South Korea), SAP (Germany), TomTom (Netherlands), AppyWay (UK), Ketos (US), Gaia (India), TaKaDu (Israel), FlamencoTech (India), XENIUS (India), Bright Cities (Brazil), Maydtech (Mexico), Zencity (Israel), Itron (US), and IXDen (Israel). These players have adopted various growth strategies to expand their smart cities market presence, such as partnerships, business expansions, agreements, collaborations, and new product launches.

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Hitachi offers IT solutions to healthcare, power, and defense industries. Hitachi offers various smart city-based products and solutions under its subsidiary, Hitachi Vantara. Hitachi Smart Spaces and Video Intelligence platforms combine IoT, AI, and analytics to improve the experience, safety, and efficiency. Its other smart city offerings include information control, smart grid, energy management, community energy management, intelligent water, and smart mobility solutions. Hitachi offers Transportation Management (TM) that allows the automation of transportation operations across all core business processes while providing a real-time view of freight orders, route and load building, shipment execution, shipment costing, and freight settlement processes in an integrated landscape. Hitachi’s smart building solutions consist of escalators, operations management systems, elevators, and air conditioning systems connected through an IoT platform. Its transportation mobility solutions include Intelligent Transportation Systems (ITS), electric cars, escalators, traffic hub stations, and EV infrastructure. Lumada for IoT and Operations Intelligence offers a 360-degree understanding of operations using holistic insights from video, IoT, and business data. It delivers insights for data-driven decisions using video from the physical world—from traffic and parking to customer behavior and preferences to manufacturing quality assurance.

IBM is a globally renowned provider of cutting-edge hardware, software, and services, offering innovative solutions across a broad spectrum of industries, from mainframe computing to nanotechnology. Specializing in cloud computing, mobile technology, cognitive computing, cybersecurity, and research, IBM is at the forefront of technological advancement. With a focus on enhancing urban environments, IBM delivers a suite of smart city solutions aimed at optimizing resource management and improving citizen well-being. These include the IBM Intelligent Utility Network, facilitating efficient energy management, and the IBM Intelligent Water platform, enabling intelligent water resource management. Additionally, IBM provides solutions such as IBM Enterprise Asset Management for energy and water utilities, the IBM Water Management Center, and offerings for customer operations transformation, smart metering, energy optimization, and intelligent transportation systems. By leveraging data analytics and IoT technologies, IBM empowers cities to collect and analyze data, enabling actionable insights for sustainable urban development and enhanced quality of life.

Related Reports:

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 2028

Mr. Aashish Mehra
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Smart Cities Market Size,  Share & Growth Report
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