Asia Pacific Smart Cities Market Size & Outlook, 2023-2030
Asia Pacific smart cities market, 2018-2030 (US$B)
Related Markets
Asia Pacific smart cities market highlights
- The Asia Pacific smart cities market generated a revenue of USD 223.0 billion in 2023.
- The market is expected to grow at a CAGR of 29.2% from 2024 to 2030.
- In terms of segment, smart utilities was the largest revenue generating application in 2023.
- Environmental Solution is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Vietnam is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 223.0 billion |
| Market revenue in 2030 | USD 1,342.2 billion |
| Growth rate | 29.2% (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 |
| Key market players worldwide | ABB Ltd, Schneider Electric SE, Cisco Systems Inc, Telefonaktiebolaget L M Ericsson ADR, Honeywell International Inc, International Business Machines Corp, Itron Inc, Kapsch Group, Huawei Technologies, Microsoft Corp, Oracle Corp, Ams-OSRAM AG, SAP SE, Siemens AG, Telensa, Verizon Communications Inc, Vodafone Group PLC |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 29.8% of the global smart cities market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,342.2 billion by 2030.
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Smart Cities Market Scope
Smart Cities Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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 28.83% in 2023. Horizon Databook has segmented the Asia Pacific 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.
Based on the estimates Asia's population is likely to reach 5.26 billion by 2050 and around 64% of the region's population is expected to become urban. To reduce the burden of the decreasing land-carrying capacity, governments in the region are focusing on improving the overall physical infrastructure.
This is expected to drive market growth in the region in the coming years. The increasing focus of governments across the Asia Pacific region to improve parking management and reduce traffic congestion and air pollution is expected to fuel the demand for smart parking systems over the forecast period.
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Target buyers of Asia Pacific 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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific smart cities market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific smart cities market size, by country, 2018-2030 (US$B)
Asia Pacific Smart Cities Market Outlook Share, 2023 & 2030 (US$B)
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