Market Overview:
Austria Smart Cities Market Size Was Valued at USD 561 Million in 2022, and is Projected to Reach USD 1,212.3 Million by 2030, Growing at a CAGR of 10.11% From 2023-2030.
Austria's government has been key in advancing smart city development, providing substantial funding and policy support. With a robust innovation ecosystem and strong collaboration between academia, industry, and government, Austria fosters cutting-edge solutions. Leveraging its well-developed urban infrastructure, the country integrates smart technologies seamlessly. Sustainability is a key focus, with a commitment to reducing carbon footprint and promoting eco-friendly practices. Smart tourism initiatives enhance visitor experiences through navigation and personalized services. Digital transformation is evident, with Vienna leading the charge in innovative urban development and sustainable living. Utilizing digital solutions, data analytics, and IoT, Austria aims to improve urban services, resource management, and overall city efficiency, prioritizing the well-being of its residents and visitors alike.
Top Key Players Covered In The Smart Cities Market:
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- Kapsch TrafficCom AG (Austria)
- EVN Group (Austria)
- Telekom Austria Group (Austria)
- AVL List GmbH (Austria)
- Siemens AG (Germany)
- ABB (Switzerland)
- Honeywell (USA)
- Schneider Electric (France)
- IBM (USA)
- Cisco Systems (USA)
- Ericsson (Sweden)
- Microsoft (USA)
- Huawei Technologies Co. Ltd. (China)
- Nokia (Finland)
- Thales Group (France)
- Bosch (Germany)
- Infineon Technologies Austria AG (Austria)
- Wiener Netze (Austria)
- Swarco AG (Austria)
- TTTech Computertechnik AG (Austria), and Other Major Players
Market Dynamics and Factors:
Strong government backing and support are pivotal drivers of the Austria Smart Cities market. This active involvement ensures adequate funding and investment, facilitating smoother project implementation. With a favorable policy framework established by the government, smart city initiatives encounter fewer bureaucratic hurdles, enabling quicker decision-making and coordination among various departments. Government support acts as a catalyst for innovation and efficiency, propelling sustainable urban development forward and enhancing citizens' quality of life.
Increasing tourism advancements present significant opportunities for Austria's Smart Cities market. Leveraging smart city technologies, cities can transform the tourist experience by offering seamless access to information and personalized recommendations. Smart mobility solutions further revolutionize transportation for tourists, optimizing connectivity and providing eco-friendly options. By integrating these technologies, Austria's Smart Cities can position themselves as modern, tourist-friendly destinations, attracting more visitors and contributing to the sustainable growth of the tourism industry and overall city development.
The Smart Cities Market Report Highlight:
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- By Solution and Service, the Smart Utilities segment is Anticipated to Dominate the Market Over the Forecast Period. With the increasing global emphasis on energy conservation and sustainability, smart utility solutions offer the potential to optimize energy consumption, reduce wastage, and promote energy efficiency in cities. Smart utility solutions enable real-time monitoring and data analytics, allowing cities to manage their water, electricity, and gas resources more effectively and respond quickly to demand fluctuations.
- By Component, the Hardware segment dominates the market over the forecast period. This segment includes physical components such as sensors, IoT devices, networking equipment, and infrastructure like smart meters, cameras, etc. Hardware is fundamental for collecting data from the city environment. In some cases, the hardware segment could dominate if there's heavy investment in sensor networks, surveillance systems, or infrastructure upgrades.
- By Country, Vienna, Graz, and Linz are three prominent cities in Austria actively investing in smart city technologies to enhance urban living. Each city has its own set of initiatives aimed at improving efficiency, reducing environmental impact, and enhancing the overall quality of life for its citizens. Vienna, as the capital city, leads the way with various smart city projects, including the development of a smart grid, the deployment of smart sensors, and the implementation of a smart waste management system. These efforts are geared towards creating a more sustainable and digitally integrated urban environment.
Key Industry Development:
In Sept 2022, AVL opened a New Hydrogen and Fuel Cell Test Center in Graz, the company’s know-how covers the development of a diverse range of vehicle applications, in the fields of marine, rail, and aviation, stationary power generation, and efficient hydrogen production.
In Nov 2022, With the "Green Gantry", Kapsch TrafficCom introduced a gantry made from local and renewable resources that pave the way for sustainable road infrastructure with its positive carbon footprint. The gantry developed by Kapsch TrafficCom, made of Austrian wood, binds more than 20 tons of CO2 and thus has a positive carbon footprint.
The Smart Cities Market Segmentation:
By Solution and Service
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- Smart Mobility Management
- Smart Public Safety
- Smart Healthcare
- Smart Building
- Smart Utilities
- Others
By Component
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- Hardware
- Software
- Service
By Level
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- Emerging Smart Cities
- Developing Smart Cities
- Mature Smart Cities
By End-user
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- Government & Municipalities
- Transportation & Logistics
- Energy & Utilities
- Healthcare
- Education
- Others
For this report, Pristine Intelligence has segmented the Smart Cities Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
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- The U.S.
- Canada
- Mexico
Eastern Europe
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- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
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- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
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- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
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- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
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- Brazil
- Argentina
- Rest of SA
