China Smart Cities Market Size & Outlook, 2023-2030
China smart cities market, 2018-2030 (US$B)
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China smart cities market highlights
- The China smart cities market generated a revenue of USD 103.0 billion in 2023 and is expected to reach USD 550.3 billion by 2030.
- The China market is expected to grow at a CAGR of 27% 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 103.0 billion |
| Market revenue in 2030 | USD 550.3 billion |
| Growth rate | 27% (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, China accounted for 13.8% 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 Asia Pacific, China smart cities market is projected to lead the regional market in terms of revenue in 2030.
- Vietnam is the fastest growing regional market in Asia Pacific and is projected to reach USD 57.7 billion by 2030.
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Smart Cities Market Scope
Smart Cities Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 29.22% in 2023. Horizon Databook has segmented the China 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.
Supportive government initiatives for smart cities and rising concerns related to energy consumption among buildings are driving the growth of the market. Moreover, transportation authorities, public infrastructure developers, and large construction companies in the country are focusing on automating the interaction and interface to improve the standard of living in urban areas.
In China, the companies operating in the market are partnering with technology providers to develop smart buildings, smart traffic management, and other solutions. For instance, in January 2020, BP plc invested USD 3.6 billion in R&B Technology, an energy management system developer in Shanghai, to develop an AI-equipped energy management platform for smart buildings.
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Target buyers of China 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 country-level data and insights on the China smart cities market , including forecasts for subscribers. This country databook contains high-level insights into China smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China smart cities market size, by application, 2018-2030 (US$B)
China Smart Cities Market Outlook Share, 2023 & 2030 (US$B)
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