Europe Smart Cities Market Size & Outlook, 2023-2030
Europe smart cities market, 2018-2030 (US$B)
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Europe smart cities market highlights
- The Europe smart cities market generated a revenue of USD 212.5 billion in 2023.
- The market is expected to grow at a CAGR of 22.7% 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, Spain is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 212.5 billion |
| Market revenue in 2030 | USD 888.8 billion |
| Growth rate | 22.7% (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, Europe region accounted for 28.4% 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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Europe 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 28.52% in 2023. Horizon Databook has segmented the Europe 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 European government has been collaboratively working with various organizations and other regions to increase the adoption of the smart cities concept. France and Germany are some of the leading promoters of the concept.
Various partnership programs are being undertaken by the European Union to transform the region’s countries into smart cities. For instance, the European Innovation Partnership on Smart Cities and Communities, an initiative undertaken b y the European Commission, aims at associating European cities to improve urban life.
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Target buyers of Europe 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 Europe smart cities market , including forecasts for subscribers. This continent databook contains high-level insights into Europe smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe smart cities market size, by country, 2018-2030 (US$B)
Europe Smart Cities Market Outlook Share, 2023 & 2030 (US$B)
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