Mexico Smart Cities Market Size & Outlook, 2023-2030
Mexico smart cities market, 2018-2030 (US$B)
Related Markets
Mexico smart cities market highlights
- The Mexico smart cities market generated a revenue of USD 8.6 billion in 2023 and is expected to reach USD 51.2 billion by 2030.
- The Mexico market is expected to grow at a CAGR of 29.1% 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 8.6 billion |
| Market revenue in 2030 | USD 51.2 billion |
| Growth rate | 29.1% (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, Mexico accounted for 1.1% 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 Latin America, Brazil smart cities market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 51.2 billion by 2030.
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Smart Cities Market Scope
Smart Cities Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 29.07% in 2023. Horizon Databook has segmented the Mexico 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.
Mexico has launched the Mexico City Smart Metropolitan Mobility initiative to improve public transport and mobility by integrating bus positioning into intelligent transport systems. It would be a GNSS-based system that would improve travel security and lower crime rates.
Further, the introduction of various smart city initiatives such as smart transportation, smart public infrastructures, and smart residential projects are been rapidly adopted by state and local bodies across the country.
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Target buyers of Mexico 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 Mexico smart cities market , including forecasts for subscribers. This country databook contains high-level insights into Mexico smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico smart cities market size, by application, 2018-2030 (US$B)
Mexico Smart Cities Market Outlook Share, 2023 & 2030 (US$B)
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