Spain Smart Cities Market Size & Outlook, 2023-2030
Spain smart cities market, 2018-2030 (US$B)
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Spain smart cities market highlights
- The Spain smart cities market generated a revenue of USD 11.0 billion in 2023 and is expected to reach USD 60.9 billion by 2030.
- The Spain market is expected to grow at a CAGR of 27.7% 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.
Smart cities market data book summary
| Market revenue in 2023 | USD 11.0 billion |
| Market revenue in 2030 | USD 60.9 billion |
| Growth rate | 27.7% (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, Spain accounted for 1.5% 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 Europe, UK smart cities market is projected to lead the regional market in terms of revenue in 2030.
- Spain is the fastest growing regional market in Europe and is projected to reach USD 60.9 billion by 2030.
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Smart Cities Market Scope
Smart Cities Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Spain 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 29.09% in 2023. Horizon Databook has segmented the Spain 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 rapid demand for advanced technologies across the communities is looking towards connected technologies, AI, IoT, and ML technologies which are expected to drive the required change in society. Spain is undertaking various initiatives for developing a wide range of applications and solutions, including the one which helps their cities in becoming more sustainable and efficient.
For instance, in March 2022, Cisco an enterprise networking and security solution provider, announced a strategic partnership with Real Madrid which aimed to deploy the largest Wi-Fi stadium network in Europe. Based on the development Santiago Bernabéu Stadium will become one of the leading and technologically advanced sports venues globally.
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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 Spain smart cities market , including forecasts for subscribers. This country databook contains high-level insights into Spain smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain smart cities market size, by application, 2018-2030 (US$B)
Spain Smart Cities Market Outlook Share, 2023 & 2030 (US$B)
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