Smart City Information And Communication Technologies (ICT) Infrastructure

Smart City Information And Communication Technologies (ICT) Infrastructure

Global Smart City Information And Communication Technologies (ICT) Infrastructure Market to Reach US$213.5 Billion by 2030

The global market for Smart City Information And Communication Technologies (ICT) Infrastructure estimated at US$70.7 Billion in the year 2023, is expected to reach US$213.5 Billion by 2030, growing at a CAGR of 17.1% over the analysis period 2023-2030. Smart Utilities, one of the segments analyzed in the report, is expected to record a 20.1% CAGR and reach US$103.0 Billion by the end of the analysis period. Growth in the Smart Transport segment is estimated at 17.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$19.3 Billion While China is Forecast to Grow at 24.7% CAGR

The Smart City Information And Communication Technologies (ICT) Infrastructure market in the U.S. is estimated at US$19.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$55.6 Billion by the year 2030 trailing a CAGR of 24.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 12.6% and 15.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.8% CAGR.

Global Smart City Information And Communication Technologies (ICT) Infrastructure Market - Key Trends & Drivers Summarized

How Are Smart Cities Transforming Urban Living Through ICT Infrastructure?

Smart cities represent the next frontier in urban development, leveraging Information and Communication Technologies (ICT) to enhance the quality of life for their residents. At the heart of this transformation is the ICT infrastructure, which enables the seamless integration of various city functions, from traffic management and energy distribution to public safety and healthcare services. By deploying sensors, cameras, and other connected devices, cities can collect vast amounts of data, which can be analyzed to improve decision-making and resource allocation. This data-driven approach is helping cities become more efficient, sustainable, and responsive to the needs of their citizens.

What Technological Innovations Are Powering Smart City ICT Infrastructure?

The development of smart city ICT infrastructure is being propelled by a range of technological innovations, including the proliferation of IoT devices, the advent of 5G networks, and the integration of AI and big data analytics. These technologies are enabling cities to move beyond traditional, siloed approaches to urban management and towards more holistic, integrated solutions. For instance, smart grids are revolutionizing energy management by optimizing electricity distribution and reducing waste, while smart transportation systems are easing congestion and improving mobility through real-time traffic monitoring and management. Additionally, AI-powered analytics are helping cities predict and mitigate potential issues, such as crime or pollution, before they become critical.

What Industry Trends Are Driving the Adoption of Smart City ICT Infrastructure?

The adoption of smart city ICT infrastructure is being driven by several key industry trends, including the increasing urbanization of the global population, the growing focus on sustainability, and the rising demand for efficient public services. As more people move to cities, the pressure on urban infrastructure is intensifying, necessitating the development of smarter, more resilient systems. Furthermore, the need to reduce carbon emissions and improve environmental sustainability is prompting cities to invest in green technologies and smart grids. The COVID-19 pandemic has also underscored the importance of digital infrastructure in maintaining public health and safety, leading to increased investment in smart healthcare and emergency response systems.

What Are the Key Drivers Behind the Growth of the Smart City ICT Infrastructure Market?

The growth in the smart city ICT infrastructure market is driven by several factors, including the rapid pace of urbanization, the increasing need for sustainable development, and the rising demand for efficient and secure urban services. The deployment of 5G networks is a major enabler of smart city initiatives, providing the high-speed, low-latency connectivity required for real-time data transmission and analysis. Additionally, the growing adoption of IoT devices is driving the need for robust, scalable ICT infrastructure capable of handling vast amounts of data. Government initiatives aimed at improving urban living standards and reducing environmental impact are also playing a crucial role in driving the adoption of smart city ICT infrastructure.

Select Competitors (Total 49 Featured) -

• ABB Ltd.
• Accenture Plc
• AT&T, Inc.
• China Mobile Ltd.
• Cisco Systems, Inc.
• Deutsche Telekom AG
• Hitachi Ltd.
• Honeywell International, Inc.
• Huawei Technologies Co., Ltd.
• International Business Machines Corp.
• Microsoft Corp.
• Nokia Corp.
• NTT Communications
• Oracle Corporation
• Schneider Electric SE
• Siemens AG;

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