Internet of Things (IoT) in Smart Cities

Global Internet of Things (IoT) in Smart Cities Market to Reach US$987.9 Billion by 2030

The global market for Internet of Things (IoT) in Smart Cities estimated at US$290.7 Billion in the year 2023, is expected to reach US$987.9 Billion by 2030, growing at a CAGR of 19.1% over the analysis period 2023-2030. Solutions Component, one of the segments analyzed in the report, is expected to record a 20.3% CAGR and reach US$691.8 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 16.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$80.6 Billion While China is Forecast to Grow at 18.0% CAGR

The Internet of Things (IoT) in Smart Cities market in the U.S. is estimated at US$80.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$147.0 Billion by the year 2030 trailing a CAGR of 18.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 17.0% and 16.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.6% CAGR.

Global Internet of Things (IoT) in Smart Cities Market - Key Trends and Drivers Summarized

How Is the Internet of Things (IoT) Shaping the Future of Smart Cities?

The Internet of Things (IoT) is playing a crucial role in the development of smart cities, enabling urban planners and local governments to optimize city operations, improve sustainability, and enhance the quality of life for citizens. IoT-powered sensors and connected devices are used in smart cities to monitor traffic flow, manage energy usage, reduce pollution, and ensure public safety. These devices provide real-time data that helps authorities make informed decisions, such as adjusting traffic lights to reduce congestion or activating smart lighting systems to conserve energy. IoT solutions are also being deployed to improve public services, such as waste management and water supply, by providing continuous monitoring and predictive maintenance, ensuring more efficient and sustainable use of resources.

How Are Technological Advancements Driving IoT Adoption in Smart Cities?

Technological advancements such as 5G connectivity, edge computing, and artificial intelligence (AI) are driving the rapid adoption of IoT in smart cities. The rollout of 5G networks is significantly enhancing the capabilities of IoT by providing ultra-low latency and high-speed communication, allowing real-time data transmission across connected devices. Edge computing is enabling faster processing of data closer to the source, reducing reliance on cloud-based platforms and improving response times in critical urban applications such as traffic management and public safety. AI-powered analytics are being integrated into IoT platforms to analyze data from various sensors and devices, offering predictive insights that help city planners optimize resource allocation and improve urban services.

How Do Market Segments Define the Growth of IoT in Smart Cities?

Solutions include hardware such as sensors and connected devices, software platforms for data analysis and management, and services such as integration and maintenance. Key applications of IoT in smart cities include traffic management, smart energy grids, waste management, and public safety, with traffic management and smart energy grids being the largest segments as cities prioritize improving mobility and reducing energy consumption. Geographically, North America and Europe are leading the market, driven by large-scale smart city projects and investments in digital infrastructure, while the Asia-Pacific region is emerging as a growth area due to rapid urbanization and government initiatives to build sustainable, tech-driven cities.

What Factors Are Driving the Growth in the IoT in Smart Cities Market?

The growth in the IoT in smart cities market is driven by several factors, including the increasing need for efficient urban management, advancements in 5G and AI technologies, and the growing emphasis on sustainability. As cities face challenges related to population growth, traffic congestion, and environmental sustainability, IoT solutions offer a way to optimize city operations and improve the delivery of public services. Technological innovations in sensors, connectivity, and data analytics are enabling real-time monitoring and predictive maintenance, allowing cities to become more responsive and resilient. Additionally, government investments in smart city initiatives and the rising demand for sustainable, energy-efficient urban solutions are accelerating the adoption of IoT technologies in cities worldwide.

Select Competitors (Total 37 Featured) -
  • AGT International
  • ARM
  • Bosch
  • Cisco
  • Confidex
  • Deutsche Telekom
  • Enevo
  • Flamencotech
  • Hitachi
  • Honeywell
  • Huawei
  • IBM
  • Intel
  • Microsoft
  • Optibus
  • PTC
  • Quantela
  • SAP
  • Schneider Electric
  • Siemens
  • Sierra Wireless
  • Takadu
  • Tech Mahindra
  • Telensa
  • Verizon
  • Youon
Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.


I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Global Economic Update
Internet of Things (IoT) in Smart Cities – Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Rising Urbanization and Smart City Initiatives Propel Growth in IoT for Smart Cities
Technological Advancements in IoT-Enabled Infrastructure Strengthen Market Potential
Growing Focus on Smart Traffic Management and Urban Mobility Drives IoT Adoption
Expansion of IoT-Enabled Public Safety and Surveillance Systems Fuels Market Growth
Increasing Demand for Smart Energy and Water Management Solutions Expands IoT Market Opportunities
Rising Focus on Enhancing Citizen Engagement Through IoT-Powered Smart City Applications
Expansion of IoT in Public Transportation and Smart Parking Systems Fuels Adoption
Growing Use of IoT in Disaster Management and Emergency Response Expands Market Potential
Focus on Reducing Energy Consumption and Carbon Footprint Drives IoT in Smart Cities
Increasing Focus on Smart Building Solutions and Energy-Efficient Infrastructure Fuels IoT Adoption
Rising Use of IoT in Urban Planning and Development Expands Addressable Market
Technological Advancements in 5G and IoT Connectivity Solutions Propel Growth in Smart Cities
4. GLOBAL MARKET PERSPECTIVE
TABLE 1: World Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 2: World 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
TABLE 3: World Recent Past, Current & Future Analysis for Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 4: World 7-Year Perspective for Solutions by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 5: World Recent Past, Current & Future Analysis for Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 6: World 7-Year Perspective for Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 7: World Recent Past, Current & Future Analysis for Smart Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 8: World 7-Year Perspective for Smart Transportation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 9: World Recent Past, Current & Future Analysis for Smart Building by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 10: World 7-Year Perspective for Smart Building by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 11: World Recent Past, Current & Future Analysis for Smart Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 12: World 7-Year Perspective for Smart Utilities by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 13: World Recent Past, Current & Future Analysis for Smart Citizen Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 14: World 7-Year Perspective for Smart Citizen Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 15: World Internet of Things (IoT) in Smart Cities Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
TABLE 16: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 17: World 7-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
Internet of Things (IoT) in Smart Cities Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
TABLE 18: USA Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 19: USA 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 20: USA Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 21: USA 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
CANADA
TABLE 22: Canada Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 23: Canada 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 24: Canada Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 25: Canada 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
JAPAN
Internet of Things (IoT) in Smart Cities Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
TABLE 26: Japan Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 27: Japan 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 28: Japan Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 29: Japan 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
CHINA
Internet of Things (IoT) in Smart Cities Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
TABLE 30: China Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 31: China 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 32: China Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 33: China 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
EUROPE
Internet of Things (IoT) in Smart Cities Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
TABLE 34: Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 35: Europe 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
TABLE 36: Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 37: Europe 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 38: Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 39: Europe 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
FRANCE
Internet of Things (IoT) in Smart Cities Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
TABLE 40: France Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 41: France 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 42: France Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 43: France 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
GERMANY
Internet of Things (IoT) in Smart Cities Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
TABLE 44: Germany Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 45: Germany 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 46: Germany Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 47: Germany 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
ITALY
TABLE 48: Italy Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 49: Italy 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 50: Italy Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 51: Italy 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
UNITED KINGDOM
Internet of Things (IoT) in Smart Cities Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
TABLE 52: UK Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 53: UK 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 54: UK Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 55: UK 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
REST OF EUROPE
TABLE 56: Rest of Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 57: Rest of Europe 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 58: Rest of Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 59: Rest of Europe 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
ASIA-PACIFIC
Internet of Things (IoT) in Smart Cities Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
TABLE 60: Asia-Pacific Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 61: Asia-Pacific 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 62: Asia-Pacific Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 63: Asia-Pacific 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
REST OF WORLD
TABLE 64: Rest of World Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Component - Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 65: Rest of World 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Component - Percentage Breakdown of Value Sales for Solutions and Services for the Years 2024 & 2030
TABLE 66: Rest of World Recent Past, Current & Future Analysis for Internet of Things (IoT) in Smart Cities by Application - Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 67: Rest of World 7-Year Perspective for Internet of Things (IoT) in Smart Cities by Application - Percentage Breakdown of Value Sales for Smart Building, Smart Transportation, Smart Utilities, Smart Citizen Services and Other Applications for the Years 2024 & 2030
IV. COMPETITION

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings