Smart Infrastructure Market Size, Share, Growth Analysis, By Offering, Focus Area (Smart Transportation, Smart Buildings, Smart Utilities, Smart Government), End User (Commercial, Residential, Industrial) and Region - Global Forecast to 2029

Smart Infrastructure Market Size, Share, Growth Analysis, By Offering, Focus Area (Smart Transportation, Smart Buildings, Smart Utilities, Smart Government), End User (Commercial, Residential, Industrial) and Region - Global Forecast to 2029

MarketsandMarkets forecasts that the smart infrastructure market is projected to grow from USD 923.0 billion in 2024 to USD 2,109.5 billion by 2029 at a CAGR of 18.0% during the forecast period. Many countries are facing challenges related to aging infrastructure that require modernization and upgrades. Smart infrastructure solutions offer a way to improve the reliability, safety, and performance of existing infrastructure systems.

“By professional services, the consulting & implementation services segment is expected to grow with the highest CAGR during the forecast period.”

Consulting and implementation services are indispensable. They serve as guiding lights, illuminating the path from conceptualization to realization of smart solutions. These services start by assessing stakeholders' unique needs and goals and crafting tailored plans that harness the potential of technology for efficiency, sustainability, and safety. They navigate the maze of available technologies, selecting the most suitable options and integrating them seamlessly into existing infrastructure. With meticulous project management, they orchestrate the complex dance of stakeholders, ensuring projects stay on track, on budget, and on time. Beyond mere implementation, they customize solutions, providing bespoke software, hardware, and training to empower clients to embrace the future with confidence.

“By professional services, the support & maintenance services segment is expected to hold the largest market size during the forecast period.”

Support and maintenance services are integral to the efficient functioning of smart infrastructure systems. They encompass various tasks such as system monitoring, software updates, hardware maintenance, remote diagnostics, training, predictive maintenance, and compliance support. By providing continuous monitoring and proactive troubleshooting, these services minimize downtime and ensure optimal performance. Regular updates and upgrades keep systems secure and up to date, while hardware maintenance prevents failures and extends component lifespan. Remote diagnostics enables swift problem resolution, saving time and resources. Training sessions empower personnel to handle day-to-day operations and minor issues independently. Predictive maintenance strategies leverage data analytics to schedule maintenance activities proactively, minimizing unplanned downtime and reducing costs.

“Asia Pacific is expected to grow with the highest CAGR during the forecast period.”

The Asia Pacific region is witnessing a surge in smart infrastructure markets, driven by factors like rapid urbanization and the imperative for sustainable development. From the bustling cities to the sprawling countryside, initiatives are underway to integrate technologies that enhance efficiency and livability. The region comprises major growing economies, such as China, Japan, India, and Southeast Asia, which offer notable growth opportunities for the smart infrastructure market. Smart city projects are revolutionizing urban landscapes through the deployment of IoT sensors, data analytics, and AI to manage resources more effectively. Transportation systems are becoming smarter with advancements in traffic management, real-time information, and electric vehicle infrastructure.

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company: Tier 1–35%, Tier 2–40%, and Tier 3–25%

By Designation: C-Level Executives –35%, Managers–35, and Others–40%

By Region: North America–30%, Europe–35%, APAC–25%, RoW–10%

The major players in the smart infrastructure market are Siemens (Germany), Cisco (US), Honeywell (US), Hitachi (Japan), IBM (US), Schneider Electric (France), Microsoft (US), Huawei (China), ABB (Switzerland), Johnson Controls (Ireland), Intel (US), Oracle (US), TCS (India), Fujitsu (Japan), Itron (US), Accenture (Ireland), Sense (US), AppyWay (UK), Telensa (UK), Gaia (India), Panamax Infotech (India), Envelio (Germany), XENIUS (India), Anavision (Hong Kong), Enevo (US), Cubic Telecom (Ireland). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the smart infrastructure market.

Research Coverage

The report segments the global smart infrastructure market based on offerings that have been classified into hardware, software, services (professional services (consulting & implementation, support & maintenance, training & education), and managed services). The focus area segment is classified by smart transportation, smart buildings, smart utilities, smart healthcare, smart hospitality, smart agriculture, smart manufacturing, smart government, and other focus areas. The end users are classified as commercial, residential, industrial, and government & defense. By region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Key benefits of the report

The report would help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall smart infrastructure market and the subsegments. It would also help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (proliferation of IoT, AI, smart infrastructure, and connected devices, growing urbanization and demand for sustainable solutions, sustainable energy transition), restraints (high implementation costs, lack of standardization), opportunities (growing smart city initiatives, rising public and private investments), and challenges (integration with existing infrastructure, data security and privacy concerns).

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the smart infrastructure market.

Market Development: Comprehensive information about lucrative markets – the report analyses the smart infrastructure market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the smart infrastructure market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players such as Siemens (Germany), Cisco, (US), Honeywell (US), Hitachi (Japan), IBM (US), Schneider Electric (France), Microsoft (US), Huawei (China), ABB (Switzerland), Johnson Controls (Ireland), Intel (US), Oracle (US), TCS (India), Fujitsu (Japan), Itron (US), Accenture (Ireland), Sense (US), AppyWay (UK), Telensa (UK), Gaia (India), Panamax Infotech (India), Envelio (Germany), XENIUS (India), Anavision (Hong Kong), Enevo (US), Cubic Telecom (Ireland).