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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Smart Cities Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The global smart cities market size reached US$ 362.3 Billion in 2019. A smart city refers to a framework that utilizes information and communication technology (ICT) to deploy, develop and promote sustainable development in urban areas. It also helps in sharing information with the public, improving operational efficiency and increasing the quality of citizen welfare. A smart city relies on both hardware components, such as chips, sensors and actuators, and software solutions like user interfaces (UIs), communication networks and the Internet of Things (IoT) devices to promote mixed-land use for unplanned areas, which offers a wide range of facilities at one location and aids in the optimum utilization of the available space. The data collected from these solutions is analyzed to monitor power plants, water supply, detect crime, manage waste and offer various other municipality services. IMARC Group expects the market value to reach US$ 670.3 Billion by 2025.

In smart cities, the data acquired and delivered by the IoT devices is stored in the cloud or on servers. The connection of these devices and the utilization of data analytics (DA) helps converge the physical and digital city elements, thereby increasing both public and private sector efficiency, facilitating economic benefits and enhancing the efficiency of the existing infrastructure. Presently, the primary infrastructure elements in smart cities include sanitation, affordable housing, sustainable environment, adequate water supply, assured electricity supply, health and education, efficient urban mobility and public transport, and robust IT connectivity and digitalization.

Increasing Population Influencing the Need for Smart Cities

According to the ‘World Population Prospects 2019 report prepared by the Population Division of the Department of Economic and Social Affairs of the United Nations (UN) Secretariat, the world’s population is anticipated to increase by 2 Billion in the next 30 years, from 7.7 Billion to 9.7 Billion by 2050. Thus, the escalating demand for sustainable infrastructure due to increasing population and urbanization represents one of the key factors propelling the growth of the smart cities market. As a result, governing agencies of both the developed and emerging economies are implementing policies and regulations for the deployment of cloud-based services to develop, facilitate and track their smart city initiatives. These agencies are also investing in smart city technology to fight against the coronavirus diseases (COVID-19) outbreak as it can be employed to track the spread of the pandemic, monitor patients, reduce the infection rate, and implement different medical strategies. Additionally, as the establishment of smart cities helps utilize technologies and connect data sensors to ensure quality economic and environmental development, countries around the world are investing in smart city development.

Advancements in Energy Infrastructure are Propelling Market Growth

The rising adoption of artificial intelligence (AI) solutions is providing a boost to the market growth. The utilization of AI-based CCTV cameras for facial recognition, sensors for smart parking assistance and smart traffic management systems are creating lucrative opportunities for the leading players in the smart cities industry. Besides this, intensifying urban migration and the rise in unplanned development is also fueling the need for smart cities worldwide. Advancements in energy infrastructure are also impelling market growth as numerous countries are facing threats in terms of grid reliability and maintenance of aging energy infrastructures. Smart cities provide improved infrastructure for the optimal utilization of energy and improve efficiency by implementing smart energy grids and related technologies. Furthermore, governance structures, technology ecosystems, advancements in infrastructure, and funding and financing models are some of the other factors anticipated to strengthen the growth of the smart cities market in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smart cities market report, along with forecasts for growth at the global, regional and country-level from 2020-2025. Our report has categorized the market based on region, smart citizen services, focus area, smart transportation, smart buildings and smart utilities.

Breakup by Smart Citizen Services:

  • Smart Education
  • Smart Healthcare
  • Smart Public Safety
  • Smart Street Lighting
  • Others


Breakup by Focus Area:

  • Smart Transportation
  • Smart Buildings
  • Smart Utilities
  • Smart Citizen Services


Smart transportation refers to the integrated application of modern technologies and management strategies in transportation systems. It currently holds the largest market share as it assists in speed control and travel time improvement.

Breakup by Smart Transportation:

  • Smart Ticketing
  • Traffic Management System
  • Passenger Information Management System
  • Freight Information System
  • Connected Vehicles
  • Others


At present, traffic management systems represent the leading segment. The systems stream real-time transport data from the complete traffic infrastructure into one Transportation Management Center (TMC). The TMC assists in processing the data and taking intelligent actions, which increase transport efficiency, mediate traffic congestion and improve safety.

Breakup by Smart Buildings:

  • Building Energy Optimization
  • Emergency Management System
  • Parking Management System
  • Others


Building energy optimization presently accounts for the majority of the total market share, as it aids in optimizing the energy efficiency of buildings. It integrates the conventional design method, along with stimulation-aided design methods, to form an automated process.

Breakup by Smart Utilities:

  • Advanced Metering Infrastructure
  • Distribution Management System
  • Substation Automation
  • Others


Advanced metering infrastructure (AMI) refers to a collective term that describes the complete infrastructure from smart meter to two-way communication network for controlling center equipment. Moreover, substation automation refers to the utilization of data from intelligent electronic devices (IED), control and automation capabilities within the substation, and control commands from remote users to control power-system devices.

Regional Insights:

  • Europe
  • North America
  • Asia Pacific
  • Latin America
  • Middle East and Africa


Europe enjoys the leading position in the market on account of the development in high-end infrastructure, considerable utilization of the internet of things (IoT), and easy accessibility to effectual network connectivity.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the smart cities market report, along with the detailed profiles of the major players operating in the industry. Some of these players are ABB Group (NYSE: ABB), Cisco Systems, Inc., Alphabet Inc., International Business Machines (IBM) Corporation, Microsoft Corporation, Oracle Corporation, Schneider Electric, Hitachi, Ltd., Siemens AG, Huawei Technologies Co., Ltd., Intel Corporation, General Electric (GE) Company, Telefonaktiebolaget L M Ericsson, Toshiba Corporation, Honeywell International Inc. and AT&T Communications, LLC.

Key Questions Answered in This Report:

  • How has the global smart cities market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global smart cities industry?
  • What are the key regional markets in the global smart cities industry?
  • What is the breakup of the market based on the focus area?
  • What is the breakup of the market based on the smart transportation?
  • What is the breakup of the market based on the smart building?
  • What is the breakup of the market based on the smart utilities?
  • What is the breakup of the market based on the smart citizen service?
  • What are the various stages in the value chain of the global smart cities industry?
  • What are the key driving factors and challenges in the global smart cities industry?
  • What is the structure of the global smart cities industry and who are the key players?
  • What is the degree of competition in the global smart cities industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Smart City Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19 
    5.4    Market Breakup by Focus Area
    5.5    Market Breakup by Smart Transportation
    5.6    Market Breakup by Smart Buildings
    5.7    Market Breakup by Smart Utilities 
    5.8    Market Breakup by Smart Citizen Services
    5.9    Market Breakup by Region
    5.10    Market Forecast
6    Market Breakup by Focus Area 
    6.1    Smart Transportation 
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Smart Buildings
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Smart Utilities
        6.3.1    Market Trends
        6.3.2    Market Forecast
    6.4    Smart Citizen Services
        6.4.1    Market Trends
        6.4.2    Market Forecast
7    Market Breakup by Smart Transportation
    7.1    Smart Ticketing 
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Traffic Management System 
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Passenger Information Management System
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Freight Information System
        7.4.1    Market Trends
        7.4.2    Market Forecast
    7.5    Connected Vehicles 
        7.5.1    Market Trends
        7.5.2    Market Forecast
    7.6    Others 
        7.6.1    Market Trends
        7.6.2    Market Forecast
8    Market Breakup by Smart Buildings 
    8.1    Building Energy Optimization 
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Emergency Management System
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Parking Management System
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Others
        8.4.1    Market Trends
        8.4.2    Market Forecast
9    Market Breakup by Smart Utilities
    9.1    Advanced Metering Infrastructure 
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Distribution Management System 
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Substation Automation
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Others
        9.4.1    Market Trends
        9.4.2    Market Forecast
10    Market Breakup by Smart Citizen Services
    10.1    Smart Education
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Smart Healthcare 
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Smart Public Safety 
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Smart Street Lighting
        10.4.1    Market Trends
        10.4.2    Market Forecast
    10.5    Others
        10.5.1    Market Trends
        10.5.2    Market Forecast
11    Market Breakup by Region
    11.1    Europe 
        11.1.1    Market Trends
        11.1.2    Market Forecast
    11.2    North America 
        11.2.1    Market Trends
        11.2.2    Market Forecast
    11.3    Asia Pacific 
        11.3.1    Market Trends
        11.3.2    Market Forecast
    11.4    Middle East and Africa
        11.4.1    Market Trends
        11.4.2    Market Forecast
    11.5    Latin America
        11.5.1    Market Trends
        11.5.2    Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porter’s Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Price Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    ABB 
        16.3.2    Cisco Systems 
        16.3.3    Alphabet
        16.3.4    IBM
        16.3.5    Microsoft
        16.3.6    Oracle
        16.3.7    Schneider Electric 
        16.3.8    Hitachi 
        16.3.9    Siemens AG 
        16.3.10      Huawei 
        16.3.11      Intel
        16.3.12      GE 
        16.3.13      Ericsson 
        16.3.14      Toshiba Corporation 
        16.3.15      Honeywell 
        16.3.16      AT&T


List of Figures

Figure 1: Global: Smart Cities Market: Major Drivers and Challenges
Figure 2: Global: Smart Cities Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Smart Cities Market: Breakup by Focus Area (in %), 2019
Figure 4: Global: Smart Cities Market: Breakup by Smart Transportation (in %), 2019
Figure 5: Global: Smart Cities Market: Breakup by Smart Buildings (in %), 2019
Figure 6: Global: Smart Cities Market: Breakup by Smart Utilities (in %), 2019
Figure 7: Global: Smart Cities Market: Breakup by Smart Citizen Services (in %), 2019
Figure 8: Global: Smart Cities Market: Breakup by Region (in %), 2019
Figure 9: Global: Smart Cities Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 10: Global: Smart Cities Industry: SWOT Analysis
Figure 11: Global: Smart Cities Industry: Value Chain Analysis
Figure 12: Global: Smart Cities Industry: Porter’s Five Forces Analysis
Figure 13: Global: Smart Cities (Smart Transportation) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 14: Global: Smart Cities  (Smart Transportation) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 15: Global: Smart Cities  (Smart Buildings) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 16: Global: Smart Cities (Smart Buildings) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 17: Global: Smart Cities (Smart Utilities) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 18: Global: Smart Cities (Smart Utilities) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 19: Global: Smart Cities (Smart Citizen Services) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 20: Global: Smart Cities (Smart Citizen Services) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 21: Global: Smart Cities (Smart Ticketing) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 22: Global: Smart Cities (Smart Ticketing) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 23: Global: Smart Cities (Traffic Management System) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 24: Global: Smart Cities (Traffic Management System) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 25: Global: Smart Cities (Passenger Information Management System) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 26: Global: Smart Cities (Passenger Information Management System) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 27: Global: Smart Cities (Freight Information System) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 28: Global: Smart Cities (Freight Information System) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 29: Global: Smart Cities (Connected Vehicles) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 30: Global: Smart Cities (Connected Vehicles) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 31: Global: Smart Cities (Other Transportation Types) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 32: Global: Smart Cities (Other Transportation Types) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 33: Global: Smart Cities (Building Energy Optimization) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 34: Global: Smart Cities (Building Energy Optimization) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 35: Global: Smart Cities (Emergency Management System) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 36: Global: Smart Cities (Emergency Management System) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 37: Global: Smart Cities (Parking Management System) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 38: Global: Smart Cities (Parking Management System) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 39: Global: Smart Cities (Other Smart Building Types) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 40: Global: Smart Cities (Other Smart Building Types) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 41: Global: Smart Cities (Advanced Metering Infrastructure) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 42: Global: Smart Cities (Advanced Metering Infrastructure) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 43: Global: Smart Cities (Distribution Management System) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 44: Global: Smart Cities (Distribution Management System) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 45: Global: Smart Cities (Substation Automation) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 46: Global: Smart Cities (Substation Automation) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 47: Global: Smart Cities (Other Smart Utilities) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 48: Global: Smart Cities (Other Smart Utilities) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 49: Global: Smart Cities (Smart Education) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 50: Global: Smart Cities (Smart Education) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 51: Global: Smart Cities (Smart Healthcare) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 52: Global: Smart Cities (Smart Healthcare) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 53: Global: Smart Cities (Smart Public Safety) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 54: Global: Smart Cities (Smart Public Safety) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 55: Global: Smart Cities (Smart Street Lighting) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 56: Global: Smart Cities (Smart Street Lighting) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 57: Global: Smart Cities (Other Smart Citizen Services) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 58: Global: Smart Cities (Other Smart Citizen Services) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 59: Europe: Smart Cities Market: Sales Value (in Billion US$), 2014 & 2019
Figure 60: Europe: Smart Cities Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 61: North America: Smart Cities Market: Sales Value (in Billion US$), 2014 & 2019
Figure 62: North America: Smart Cities Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 63: Asia Pacific: Smart Cities Market: Sales Value (in Billion US$), 2014 & 2019
Figure 64: Asia Pacific: Smart Cities Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 65: Middle East and Africa: Smart Cities Market: Sales Value (in Billion US$), 2014 & 2019
Figure 66: Middle East and Africa: Smart Cities Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 67: Latin America: Smart Cities Market: Sales Value (in Billion US$), 2014 & 2019
Figure 68: Latin America: Smart Cities Market Forecast: Sales Value (in Billion US$), 2020-2025


List of Tables

Table 1: Global: Smart Cities Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Smart Cities Market Forecast: Breakup by Focus Area (in Billion US$), 2020-2025
Table 3: Global: Smart Cities Market Forecast: Breakup by Smart Transportation (in Billion US$), 2020-2025
Table 4: Global: Smart Cities Market Forecast: Breakup by Smart Buildings (in Billion US$), 2020-2025
Table 5: Global: Smart Cities Market Forecast: Breakup by Smart Utilities (in Billion US$), 2020-2025
Table 6: Global: Smart Cities Market Forecast: Breakup by Smart Citizen Services (in Billion US$), 2020-2025
Table 7: Global: Smart Cities Market Forecast: Breakup by Region (in Billion US$), 2020-2025
Table 8: Global: Smart Cities Market Structure
Table 9: Global: Smart Cities Market: Key Players
 

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