The Smart Cities Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Smart Cities Market?
The market size of smart cities has seen quick expansion in the recent years. The size of the market will increase from $792.03 billion in 2024 to $949.94 billion in 2025, with an accompanying compound annual growth rate (CAGR) of 19.9%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Smart Cities Industry?
The Smart Cities Global Market is forecasted to expand significantly in the next few years, reaching $1987.43 billion in 2029 with a compound annual growth rate (CAGR) of 20.3%.
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What are the Key Growth Drivers Fueling the Smart Cities Market?
The key drivers in the smart cities market are:
• Integration of 5G networks in city infrastructures
• Increased emphasis on health, safety measures, and disaster preparedness
• Strong focus on citizen engagement and inclusivity
• Integration of edge computing for real-time processing and smart building automation technology.
Global Market Segmentation: Identifying Major Smart Cities Industry Segments
The smart cities market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Type: Roadways, Railways, Airways
3) By Application: Smart Governance, Smart Building, Smart Utilities, Smart Transportation, Smart Healthcare, Other Applications
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What are the Emerging Trends Shaping the Future of the Smart Cities Market?
The key trends in the smart cities market are:
• The integration of 5G networks is a trend driving the smart cities industry.
• There is an emerging focus on health and safety, resilience and disaster readiness in smart city initiatives.
• Citizen engagement and inclusivity are growing trends in smart city development.
• Edge computing for real-time processing and digital twin technology for city modeling are emerging technologies in the sector.
Who Are the Top Competitors & Leading Players in the Smart Cities Market?
Major companies in the smart cities market are:
• Microsoft Corporation
• AT&T Inc.
• Huawei Technologies Co Ltd.
• Hitachi Ltd.
• Siemens AG
• General Electric Company
• Siemens Mobility GmbH
• Accenture plc
• Intel Corporation
• International Business Machines Corporation
• Cisco Systems Inc.
• Schneider Electric SE
• Honeywell International Inc.
• ABB Ltd.
• Nokia Corporation
• Telefonaktiebolaget LM Ericsson
• Koninklijke Philips N.V.
• Infineon Technologies AG
• Emerson Electric Co
• NXP Semiconductors N.V.
• Atsuke
• Xerox Holdings Corporation
• Giesecke+Devrient GmbH
• Cubic Corporation
• HID Global Corporation
• Scheidt & Bachmann GmbH
• Vix Technology Ltd.
• Confidex Ltd.
• Robert Bosch GmbH
• Capgemini SE
• Cognizant Technology Solutions Corporation
• Dell Technologies Inc.
• Fujitsu Limited
• Infosys Limited
• NEC Corporation
• Oracle Corporation
• SAP SE
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the smart cities market in 2024
