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North America Smart City Market To Reach USD 681.04 Billion By Year 2030

The North America Smart City Market size was valued at USD 365.23 Billion in 2022 and is projected to reach USD 681.04 Billion by 2030, growing at a CAGR of 8.1% from 2023 to 2030.

Swati Kalagate
IT and Telecom
Pristine Intelligence LLP

Market Overview:

The North America Smart City Market size was valued at USD 365.23 Billion in 2022 and is projected to reach USD 681.04 Billion by 2030, growing at a CAGR of 8.1% from 2023 to 2030.

Smart Cities in North America utilize advanced technologies to improve residents' quality of life and enhance overall efficiency in urban management. These cities integrate ICT, data analytics, and IoT to optimize infrastructure and services, addressing challenges like traffic congestion and energy consumption. Key components include IoT devices, data analytics, and digital infrastructure. Major cities such as New York City, San Francisco, and Toronto are leading the deployment of smart technologies. Collaboration between public and private sectors, along with investments in 5G and IoT, drives the market's growth, aided by regulatory support and increasing awareness of the benefits of smart solutions.

Top Key Players Covered in The Smart City Market:

    • Alphabet (United States)
    • Cisco Systems (United States)
    • Microsoft (United States)
    • General Electric (United States)
    • Siemens (Germany)
    • Honeywell (United States
    • IBM (United States)
    • Uber (United States) and Other Major Players

Market Dynamics and Factors:           

Smart City growth in North America is driven by renewing infrastructure and sustainability needs. Utilizing technologies like IoT and AI, cities aim to modernize infrastructure, improve efficiency, and reduce carbon footprints. Investments in smart grids, transportation systems, and eco-friendly infrastructure support urbanization challenges and long-term sustainability. This approach positions North America as a leader in Smart City initiatives, ensuring a resilient and intelligent urban future.

Urbanization and infrastructure upgrades in North America are driving the Smart City market. With a focus on efficiency and sustainability, smart technologies improve transportation, energy, healthcare, and safety. Real-time data monitoring and IoT integration optimize resource usage and city functionality. Governments and investors recognize the benefits, leading to public-private partnerships and investments in innovative solutions. This presents a strategic opportunity for creating more livable, resilient, and technologically advanced urban spaces

The Smart City Market Report highlights:

    • By Component, the software segment's dominance in Smart City initiatives is driven by its role in streamlining operations, enhancing decision-making, and addressing urban challenges across sectors like transportation, energy management, public safety, and governance. Its adaptability and scalability make it essential for building resilient and sustainable urban ecosystems, positioning it at the forefront of shaping the future of urban living in North America.
    • By Functional Area, Smart Healthcare involves the integration of advanced technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and Big Data analytics. These tools enable the real-time monitoring of health metrics, support predictive healthcare analysis, and streamline medical procedures, leading to enhanced patient results. Additionally, the adoption of telemedicine and remote patient monitoring systems enhances the accessibility of healthcare services, especially in densely populated urban regions. This interconnected healthcare infrastructure promotes seamless collaboration among healthcare providers, patients, and other stakeholders.
    • By Region, United States is Expected to Dominate the Market Over the Forecast Period. The United States is set to lead the smart city market, leveraging its robust technological infrastructure, significant R&D investments, and thriving innovation ecosystem. Major cities are actively adopting smart technologies to enhance urban living and resource management. Government support and public-private collaborations accelerate technology deployment. With leading technology companies contributing, the U.S. is positioned as a key player in global smart city development.

Key Industry Development:

In January 2023, Siemens bolstered its smart city portfolio with the acquisition of Enlighted, a prominent provider of smart building technology. This strategic move enhances Siemens' capabilities in delivering comprehensive solutions for urban development. By integrating Enlighted's innovative technologies, Siemens aims to further empower cities with advanced systems for enhancing building efficiency, optimizing energy usage, and improving overall sustainability.

In April 2023, Microsoft debuted its Azure Digital Twins platform, revolutionizing urban innovation. This technology empowers cities to create virtual replicas of physical infrastructure for data-driven decision-making. By offering digital twins of urban environments, municipalities gain insights into assets, operations, and interactions. This approach enhances resource management, predictive maintenance, and urban planning strategies, showcasing Microsoft's dedication to smart city development.

The Smart City Market Segmentation:

By Component

    • Hardware
    • Software
    • Service

By Functional Area

    • Smart Infrastructure
    • Smart Governance
    • mart Education
    • Smart Energy
    • Smart Mobility
    • Smart Healthcare
    • Smart Buildings
    • Public Safety

For this report, Pristine Intelligence Research has segmented the Smart City Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

 North America

    • The U.S.
    • Canada
    • Mexico

Eastern Europe

    • Russia
    • Bulgaria
    • The Czech Republic
    • Hungary
    • Poland
    • Romania
    • Rest of Eastern Europe

Western Europe

    • Germany
    • UK
    • France
    • Netherlands
    • Italy
    • Spain
    • Rest of Western Europe

Asia Pacific

    • China
    • India
    • Japan
    • Singapore
    • Australia
    • New-Zealand
    • Rest of APAC

Middle East & Africa

    • Turkey
    • Saudi Arabia
    • Qatar
    • UAE
    • Israel
    • South Africa

South America

    • Brazil
    • Argentina
    • Rest of SA
Pristine Intelligence LLP

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