Smart Infrastructure Market To Reach $1,355.44 Billion By 2030

Smart Infrastructure Market Growth & Trends

The global smart infrastructure market size is expected to reach USD 1,355.44 billion by 2030 and is projected to expand at a CAGR of 20.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The considerable growth of the market for smart infrastructure can be attributed to the significant industrialization & digitization, shifting organization focus on adoption of smart infrastructure solutions for efficiently managing businesses with larger networks, and rising demand for energy management systems to establish sustainable ecosystems by end-user companies. Additionally, rising awareness of integrating emerging technologies, including cloud computing, automation, and cybersecurity, for better resource utilization is creating robust opportunities for smart infrastructure industry growth.

Notable technological advancements and rising internet penetration worldwide are driving the growth of the smart infrastructure industry. Additionally, smart infrastructure solutions’ ability to assist organizations in making data-driven decisions, minimize adverse environmental impact, and cost savings in maintenance & operations through predictive maintenance is further driving market growth. Smart infrastructure solutions derive analytics from data that assists end-users in resource allocation, policy-making, and strategic planning, supporting the industry trend. Such a benefit of smart infrastructure solutions is accelerating their adoption in various sectors such as BFSI, healthcare, and transport & logistics, among others.

Rising public & private investments in intelligent transportation systems worldwide is creating a favorable environment in the market for smart infrastructure. A growing preference for digitization of various attributes of the transportation infrastructure ecosystem has emerged as one of the key trends encouraging the implementation of smart infrastructure solutions. These solutions manage real-time traffic data, navigation systems, video surveillance devices, and sensors, among others, supporting market growth.

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Smart Infrastructure Market Report Highlights

• Services offerings are anticipated to register the highest CAGR from 2024 to 2030 in the market for smart infrastructure. Shifting end-user focus toward services for efficient implementation, management, and maintenance of smart infrastructure solutions is expected to drive growth

• In terms of type, smart waste management solutions is expected to expand at a significant CAGR in the forecast period. Increasing awareness about pollution and end-user companies' high emphasis on recycling & reuse of products to contribute towards establishing a sustainable ecosystem is propelling segment growth

• The residential end-user segment is anticipated to register a notable CAGR from 2024 to 2030. Growing need for energy savings and high emphasis of end-users on home automation for enhanced accessibility & security is fueling segment growth

• The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Supportive government initiatives for digitalization, rising smart city projects, and significant penetration by global market players are some prominent factors driving regional smart infrastructure growth

• In February 2023, Schneider Electric selected a software vendor for Internet-of-Things (IoT) and embedded solutions, MicroEJ, to integrate its MICROEJ VEE software container for Schneider Electric’s Industrial IoT (IIoT). This solution, coupled with Schneider Electric’s EcoStruxure solutions, will assist the company in the digitalization of smart connected devices

Smart Infrastructure Market Segmentation

Grand View Research has segmented the global smart infrastructure market based on offering, type, end-user, and region:

Smart Infrastructure Offering Outlook (Revenue, USD Billion, 2018 - 2030)

• Products

• Services

Smart Infrastructure Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Smart Transportation System

• Smart Energy Management System

• Smart Safety & Security Systems

• Smart Waste Management Solutions

• Others

Smart Infrastructure End-user Outlook (Revenue, USD Billion, 2018 - 2030)

• Residential

• Non-residential

Smart Infrastructure Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in the Smart Infrastructure Market

• ABB

• Aclara Technologies LLC (Hubbell Incorporated)

• Broadcom, Inc. (VMware)

• Cisco Systems, Inc.

• Dynamic Ratings

• Honeywell International Inc.

• Hewlett Packard Enterprise Development LP

• Huawei Technologies Co., Ltd.

• International Business Machines Corporation

• L&T Technology Services Limited

• Panamax Infotech

• Schneider Electric

• Siemens

• Wipro

• Xylem (Sensus)