Market Overview:

Saudi Arabia Smart Cities Market Size Was Valued at USD 0.80 Billion in 2023 and is Projected to Reach USD 1.48 Billion by 2030, Growing at a CAGR of 9.19 % From 2023-2030.

Saudi Arabia is focusing on developing smart cities with advanced digital infrastructure, including high-speed internet connectivity, wireless networks, and fiber-optic communication systems. The country's smart city projects use IoT technology to connect and monitor devices and sensors, enabling data collection and analysis for informed decision-making. Smart transportation systems are also being developed, including intelligent traffic management, smart parking solutions, and integrated autonomous vehicles. Riyadh, the capital and largest city, is known for its modern skyline, bustling markets, and historical sites like Masmak Fort. It is also a significant business center with government offices, international companies, and diplomatic missions. Jeddah, the second largest city, is known for its vibrant culture, historic architecture, and diverse expatriate population. The city's Corniche promenade is popular among locals and tourists, with the King Fahd Fountain, also known as the Jeddah Fountain, being a prominent landmark. Mecca, Islam's holiest city, is home to the Masjid al-Haram and the Kaaba, but non-Muslims are not allowed to visit due to its religious importance.

Top Key Players Covered in The Saudi Arabia Smart Cities Market:

• • IBM (US)
  • Cisco Systems (US)
  • Siemens (Germany)
  • CETA Testsystems (Germany)
  • Schneider Electric (France)
  • Saudi Aramco (Saudi Arabia)
  • NEOM (Saudi Arabia)
  • Saudi Telecom Company (STC) (Saudi Arabia)
  • Mobily (Etihad Etisalat) (Saudi Arabia)
  • Saudi Electricity Company (SEC) (Saudi Arabia), and Other Major Players

Market Dynamics and Factors:          

Saudi Arabia Smart Cities sector is driven by rapid urbanization and population expansion, requiring efficient urban management solutions. Government initiatives like Vision 2030 emphasize smart infrastructure development for quality of life, sustainability, and economic diversification. These market dynamics are influenced by a robust regulatory framework and investment incentives for market players.

The growing awareness of smart technologies among city planners, businesses, and citizens is driving a culture of adoption and collaboration, leading to partnerships between the public and private sectors for comprehensive smart city projects. Advancements in IoT, AI, cloud computing, and data analytics are fueling innovation and market competitiveness.

Digital transformation trends in industries like transportation, energy, healthcare, and public services are integrating smart solutions into infrastructure, leading to efficient resource utilization, cost savings, and enhanced service delivery. The Saudi Arabia Smart Cities market is characterized by government initiatives, technological advancements, and stakeholder collaboration, creating a fertile environment for innovation and expansion.

The Saudi Arabia Smart Cities Market Report Highlight:

• • By Solution and Service, Smart Building segment is expected to dominate the market during the forecast period. Saudi Arabia's smart cities market is expected to grow due to energy efficiency and environmental sustainability, utilizing technologies like automation, lighting, and HVAC to optimize energy consumption.
  • By Component, Software segment held the largest share of the market. Software enhancing data analytics, IoT integration, and urban infrastructure management, enhancing citizen services, resource optimization, and sustainability.
  • By Country, Riyadh, Saudi Arabia's leading smart city, utilizes advanced technologies like the KAFD, smart grid, and Smart Riyadh program for efficiency and sustainability.

Key Industry Development:

In Oct 2022, Riyadh – Saudi Telecom Company (STC) announced the launch of Center3 with an investment value of $1 billion to promote digital economy growth in Saudi Arabia. The new company will own the digital infrastructure assets owned by the STC group, including data centers, submarine cables, and internet exchange points (IXPs), according to a recent press release.

In Dec 2022, The Saudi Arabian Oil Company (“Aramco”) and TotalEnergies made the final investment decision for the construction of a world-scale petrochemical facility in Saudi Arabia. The “Amiral” complex will be owned, operated, and integrated with the existing SATORP refinery located in Jubail on Saudi Arabia’s eastern coast. The investment decision is subject to customary closing conditions and approvals.

The Saudi Arabia Smart Cities Market Segmentation:

By Solution and Service

• • Smart Mobility Management
  • Smart Public Safety
  • Smart Healthcare
  • Smart Building
  • Smart Utilities
  • Others

By Component

• • Hardware
  • Software
  • Service

 By Level

• • Emerging Smart Cities
  • Developing Smart Cities
  • Mature Smart Cities

By End-user

• • Government & Municipalities
  • Transportation & Logistics
  • Energy & Utilities
  • Healthcare
  • Education
  • Others

For this report, Pristine Intelligence has segmented the Saudi Arabia Smart Cities 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