Global Smart Cities Market Size & Outlook, 2023-2030
Global smart cities market, 2018-2030 (US$B)
Related Markets
Global smart cities market highlights
- The global smart cities market generated a revenue of USD 748.7 billion in 2023 and is expected to reach USD 3,728.3 billion by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 25.8% by 2030.
- In terms of segment, smart utilities accounted for a revenue of USD 214.2 billion in 2023.
- Environmental Solution is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 748.7 billion |
| Market revenue in 2030 | USD 3,728.3 billion |
| Growth rate | 25.8% (CAGR from 2023 to 2030) |
| Largest segment | Smart utilities |
| Fastest growing segment | Environmental Solution |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Smart Governance, Smart Building, Environmental Solution, Smart Utilities, Smart Transportation, Smart Healthcare |
Other key industry trends
- In terms of revenue, the North America accounted for 29.9% of the global smart cities market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, UK is the fastest growing regional market and is projected to reach USD 174.7 billion by 2030.
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Smart Cities Market Scope
Smart Cities Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global smart cities market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart cities market will help companies and investors design strategic landscapes.
Smart utilities was the largest segment with a revenue share of 28.61% in 2023. Horizon Databook has segmented the Global smart cities market based on smart governance, smart building, environmental solution, smart utilities, smart transportation, smart healthcare covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Smart Cities Application Outlook (Revenue, USD Billion, 2018-2030)
- Smart Governance
- Smart Building
- Environmental Solution
- Smart Utilities
- Smart Transportation
- Smart Healthcare
- Global Smart Cities Smart Governance Outlook (Revenue, USD Billion, 2018-2030)
- City Surveillance
- CCS
- E-governance
- Smart Lighting
- Smart Infrastructure
- Global Smart Cities Smart Utilities Outlook (Revenue, USD Billion, 2018-2030)
- Energy Management
- Water Management
- Waste Management
- Global Smart Cities Smart Transportation Outlook (Revenue, USD Billion, 2018-2030)
- Intelligent Transportation System
- Parking Management
- Smart Ticketing & Travel Assistance
- Global Smart Cities Governance Model Outlook (Revenue, USD Billion, 2018-2030)
- Public
- Private
- PPP
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Target buyers of Global smart cities market databook
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Our clientele includes a mix of smart cities market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global smart cities market , including forecasts for subscribers. This global databook contains high-level insights into Global smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global smart cities market size, by regions, 2018-2030 (US$B)
Top 10 countries: Smart cities market size, 2023 (US$B)
Global smart cities market share, by application, 2023 & 2030 (%, US$B)
Smart cities market: Opportunity assessment by country
Global smart cities market, by region, 2023 (US$B)
| Application | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 125.9 | 150.1 | 164.2 | 180.3 | 199.7 | 224.1 | 255.9 | 298.4 | 356.6 | 438.4 | 556.0 | 729.6 | 992.9 | 23.7% |
| Europe | 123.3 | 146.2 | 158.8 | 173.3 | 190.7 | 212.5 | 240.9 | 278.8 | 330.6 | 403.1 | 506.9 | 659.3 | 888.8 | 22.7% |
| Asia Pacific | 98.8 | 123.8 | 142.0 | 163.5 | 189.8 | 223.0 | 266.4 | 324.9 | 405.8 | 521.1 | 690.1 | 945.2 | 1,342.2 | 29.2% |
| Latin America | 16.5 | 20.2 | 22.8 | 25.7 | 29.4 | 33.9 | 39.9 | 47.9 | 59.0 | 74.7 | 97.6 | 131.9 | 185.0 | 27.4% |
| MEA | 25.3 | 31.4 | 35.8 | 40.9 | 47.2 | 55.1 | 65.4 | 79.3 | 98.5 | 125.8 | 165.8 | 226.0 | 319.5 | 28.6% |
| Overall | 389.8 | 471.7 | 523.6 | 583.8 | 656.8 | 748.7 | 868.5 | 1,029.2 | 1,250.5 | 1,563.1 | 2,016.4 | 2,691.9 | 3,728.3 | 25.8% |
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