The recent report by Astute Analytica on the global Smart Cities Market covers all the factors which will impact the market in the coming years. The report discusses several sections, such as COVID-19 impact, shareholding segments, etc. Moreover, it also outlines the list of past innovations and ongoing events to give an overview of the trends.  

The Global Smart Cities Market is projected to have a major leap forward in revenue from US$ 1,25,325.5 Mn in 2021 to US$ 6,70,424.1 Mn by 2030. The market is estimated to register a CAGR of 20.5% during the forecast period 2022-2030.

Factors Affecting the Market 

Technology is maintaining a vital place across all industrial verticals, including healthcare, automotive, construction, etc. Companies leverage cloud and service-based services to propel innovation and bring significant revolution. Thus, it will drive the growth of the global Smart Cities Market during the forecast period.  

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Growing investments in this market are expected to boost the growth of the overall market. For instance, the US Federal Government set aside $58.4 billion budget for IT at civilian Federal agencies in 2022, which is an increase of 2.4 percent from 2021. 

COVID-19 Impact Analysis 

The COVID-19 outbreak forced many organizations to adapt to digital methods, which rapidly accelerated digital transformation. Work environments changed abruptly as remote work became the new normal among organizations. As a result, it is forecast to strengthen the potential scope of the Smart Cities Market in the coming years. This report by Astute Analytica covers all the factors depicting the impact of the pandemic.  

Regional Analysis

By Technology Segment of the Global Smart Cities Market is sub-segmented into:

  • Artificial Intelligence (AI)
    • Deep Machine Learning
    • Artificial Neural Network
    • Voice Recognition
    • Pattern Recognition
    • Natural Language Processing
    • Others
  • Big Data Analytics
  • Cellular Technology
    • 5G Technology
    • Others
  • Cloud Technology
  • Edge Computing
  • High-Performance Computing
  • Internet of Things (IoT)
    • Satellite Network
    • Cellular Network
    • Radio Frequency Identification
    • Near Field Communication
    • Wi-Fi
  • Quantum Computing
  • Others

By Component Segment of the Global Smart Cities Market is sub-segmented into:

  • Hardware
    • Camera
    • Sensors/Detectors
    • Meters
    • Vehicles
    • Smart Robots
    • Others
  • Software
    • Cloud (IoT) Platform
      • Public
      • Private
    • Data Management & Analytics
    • Cyber Security
    • Remote Monitoring
  • Services
    • Consulting
    • System Integration and Deployment
    • Support and Maintenance
    • Managed Services

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By Application Segment of the Global Smart Cities Market is sub-segmented into:

  • Smart Transportation
    • Parking Management
    • Ticketing & Travel Management
    • Traffic Management
    • Passenger Information Management System
    • Freight Information System
    • Other Smart Transportation Systems
  • Smart Utilities
    • Energy management
    • Advanced Metering Infrastructure
    • Smart Grid
    • Water Management
    • Distribution Management
    • Other Smart Utilities
  • Smart Governance
    • E-Governance Solutions
    • Smart Public Safety
    • Law Enforcement
    • City Planning
    • Other Governance Services
  • Smart Home & Building
    • Building Automation System
    • Energy Management Systems
    • Parking Management System
    • Emergency Management System
    • Other Smart Building System
  • Smart Citizen Service
    • Smart Education
    • Smart Healthcare
    • Emergency Response System
    • Video Surveillance System
    • Assisted Living Solution
    • Other Citizen Services
  • Smart Mobility
    • Electric Vehicle Charging
    • Tunnel Management
    • Tolling Management
    • Other Mobility Solutions
  • Other Applications

By Deployment Segment of the Global Smart Cities Market is sub-segmented into:

  • Cloud
  • On-premise

By region Segment of the Global Smart Cities Market is sub-segmented into:

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Western Europe
      • The UK
      • Germany
      • France
      • Italy
      • Spain
    • Rest of Western Europe
      • Eastern Europe
      • Poland
      • Russia
      • Rest of Eastern Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • UAE
    • Saudi Arabia
    • Rest of MEA
  • Africa
    • Nairobi
    • Nigeria
    • South Africa
    • Rest of Africa
  • South America
    • Argentina
    • Brazil
    • Rest of South America

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Key Players Insights

Amazon, Asana, Basecamp, Gitlab, Github, Google, IBM, Invision, Microsoft, Time Doctor, Trello, Slack and Zoho Projects among others are included in the research study of the global digital collaboration tools and services market. New market entrants are adopting positioning strategy to target small group of customers with specific end-to-end user need, aiming to position themselves as an industry standard. For instance, Timyo sets priorities for replying to email or assigning an action date, Trello for collaborative Kanban project management, or Julie Desk, a virtual assistant to schedule appointments by email. Dropbox, on the other hand, focuses on file sharing and file storage that is protected and secure.

About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

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