Smart Cities Market by Size, Share, Trends and Analysis Reports

The global smart cities market, valued at USD 748.7 billion in 2023, is on a robust growth trajectory, projected to expand at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. This growth is driven by increasing urbanization, the need for efficient resource management, and heightened public safety concerns. The rise in demand for energy-efficient environments further propels market expansion. The COVID-19 pandemic highlighted the critical role of smart city infrastructure in managing public health and urban resilience. As cities worldwide seek to recover and enhance their operational efficiency, the integration of emerging technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) is becoming essential. These technologies support advanced data analytics, smart infrastructure, and improved urban services, helping cities address challenges and meet the evolving needs of their populations.