Smart Cities Market

The smart cities market is projected to grow from USD 549.1 billion in 2023 to USD 1,114.4 billion by 2028 at a CAGR of 15.2% during the forecast period. Shifts in demographics, such as an aging population and changing consumer behaviors, drive demand for smart solutions in healthcare, transportation, and housing.

Leading Smart Cities Companies include

• Hitachi (Japan),
• IBM (US),
• Siemens (Germany),
• ABB (Switzerland),
• Ericsson (Sweden), and many more....

These players have adopted various growth strategies to expand their smart cities market presence, such as partnerships, business expansions, agreements, collaborations, and new product launches.

To know about the assumptions considered for the study download the pdf brochure

Hitachi

Hitachi offers IT solutions to healthcare, power, and defense industries. Hitachi offers various smart city-based products and solutions under its subsidiary, Hitachi Vantara. Hitachi Smart Spaces and Video Intelligence platforms combine IoT, AI, and analytics to improve the experience, safety, and efficiency. Its other smart city offerings include information control, smart grid, energy management, community energy management, intelligent water, and smart mobility solutions. Hitachi offers Transportation Management (TM) that allows the automation of transportation operations across all core business processes while providing a real-time view of freight orders, route and load building, shipment execution, shipment costing, and freight settlement processes in an integrated landscape. Hitachi’s smart building solutions consist of escalators, operations management systems, elevators, and air conditioning systems connected through an IoT platform. Its transportation mobility solutions include Intelligent Transportation Systems (ITS), electric cars, escalators, traffic hub stations, and EV infrastructure. Lumada for IoT and Operations Intelligence offers a 360-degree understanding of operations using holistic insights from video, IoT, and business data. It delivers insights for data-driven decisions using video from the physical world—from traffic and parking to customer behavior and preferences to manufacturing quality assurance.

IBM

IBM is a globally renowned provider of cutting-edge hardware, software, and services, offering innovative solutions across a broad spectrum of industries, from mainframe computing to nanotechnology. Specializing in cloud computing, mobile technology, cognitive computing, cybersecurity, and research, IBM is at the forefront of technological advancement. With a focus on enhancing urban environments, IBM delivers a suite of smart city solutions aimed at optimizing resource management and improving citizen well-being. These include the IBM Intelligent Utility Network, facilitating efficient energy management, and the IBM Intelligent Water platform, enabling intelligent water resource management. Additionally, IBM provides solutions such as IBM Enterprise Asset Management for energy and water utilities, the IBM Water Management Center, and offerings for customer operations transformation, smart metering, energy optimization, and intelligent transportation systems. By leveraging data analytics and IoT technologies, IBM empowers cities to collect and analyze data, enabling actionable insights for sustainable urban development and enhanced quality of life.

Siemens

Siemens, headquartered in Germany, is a key player in the Smart Cities market. Specializing in infrastructure and technology solutions, Siemens offers a comprehensive suite of products and services to enable cities to become smarter, more sustainable, and more efficient. Their offerings include smart grid solutions for energy management, intelligent transportation systems for traffic control and mobility management, digital building technologies for efficient infrastructure, and IoT platforms for data integration and analysis. Leveraging advanced technologies such as IoT, AI, and cloud computing, Siemens helps cities optimize resource usage, improve public services, and enhance quality of life for residents. With a strong focus on innovation and sustainability, Siemens is at the forefront of shaping the future of urban development and creating smarter, more livable cities around the world.

ABB

ABB, headquartered in Switzerland, is a prominent player in the Smart Cities market. Specializing in technology solutions for energy, industry, and infrastructure, ABB offers a range of products and services aimed at creating smarter and more sustainable cities. Their offerings include smart grid solutions for efficient energy distribution, electric vehicle charging infrastructure for sustainable mobility, intelligent building automation systems for energy management and comfort, and digital solutions for water and waste management. Leveraging advanced technologies such as IoT, AI, and data analytics, ABB enables cities to optimize resource usage, reduce environmental impact, and enhance quality of life for residents. With a strong focus on innovation and sustainability, ABB is driving the transformation of urban infrastructure and shaping the future of smart cities worldwide.

Ericsson

Ericsson, headquartered in Sweden, is a key player in the Smart Cities market. Specializing in telecommunications and technology solutions, Ericsson offers a range of products and services aimed at enabling smarter, more connected cities. Their offerings include smart infrastructure solutions for urban mobility, intelligent transportation systems for traffic management, and IoT platforms for data integration and analysis. Leveraging advanced technologies such as 5G, IoT, and cloud computing, Ericsson helps cities enhance connectivity, improve public services, and drive innovation. With a strong focus on sustainability and digitalization, Ericsson is at the forefront of shaping the future of urban development and creating smarter, more resilient cities around the world.

Related Reports:

Smart Cities Market by Focus Area, Smart Transportation, Smart Buildings, Smart Utilities, Smart Citizen Services (Public Safety, Smart Healthcare, Smart Education, Smart Street Lighting, and E-Governance) and Region - Global Forecast to 2028