Canada Smart Cities Market Size & Outlook, 2023-2030
Canada smart cities market, 2018-2030 (US$B)
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Canada smart cities market highlights
- The Canada smart cities market generated a revenue of USD 45.4 billion in 2023 and is expected to reach USD 229.5 billion by 2030.
- The Canada market is expected to grow at a CAGR of 26% 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.
Smart cities market data book summary
| Market revenue in 2023 | USD 45.4 billion |
| Market revenue in 2030 | USD 229.5 billion |
| Growth rate | 26% (CAGR from 2023 to 2030) |
| Largest segment | Smart utilities |
| Fastest growing segment | Environmental Solution |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 6.1% of the global smart cities market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. smart cities market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 229.5 billion by 2030.
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Smart Cities Market Scope
Smart Cities Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 28.63% in 2023. Horizon Databook has segmented the Canada 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.
The Canadian government is undertaking various projects, such as The Resilient and Intelligent Infrastructure Project, for increasing the adoption of the smart cities concept in the country.
Further, the increasing smart infrastructure in Canada has elevated the demand for intelligent transportation systems in the country under its ITS Canada Strategic Plan 2020-25 initiative. Under this Smart City, ITS (Canada) will supply and integrate intelligent transportation systems for municipalities and agencies across Canada.
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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 country-level data and insights on the Canada smart cities market , including forecasts for subscribers. This country databook contains high-level insights into Canada smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada smart cities market size, by application, 2018-2030 (US$B)
Canada Smart Cities Market Outlook Share, 2023 & 2030 (US$B)
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