Global Smart Cities Market Outlook to 2028

The growing need for sustainable infrastructure and efficient resource utilization for cities, continued advancements in technologies, government initiations, and fundings are some of the few factors driving the Smart Cities market growth.

The impact of Covid-19 on the smart cities market has been severe. The pandemic has put a lot of pressure on the government to boost fallen economies globally; for now, smart city programs look like a luxury.

Asia-Pacific is anticipated to foresee the highest growth rate in the smart cities market. China and India will play a prominent role in this booming sector. With a population base of ~1.35 billion and one of the world's fastest-growing economies, India will be vital for smart cities' development in the future. Due to rapid urbanization and a growing population, India's smart cities investment on the rise after the launch of the smart cities mission in 2015 by India's government. Under this mission, till March 2018 has released an amount of INR 10,459.2 Crores to states and union territories to develop smart cities in three financial years.

This market research report provides an overview of the competitive landscape for the Smart Cities. The study also comprehensively analyses the Smart Cities market by segmenting it based on technology (smart building, smart utility, smart mobility, and others) and geography (North America, Europe, Asia-Pacific, South America, and the Middle East & Africa).

The report also addresses present and future market opportunities, market trends, developments, new product launches, regions, and segments poised for the fastest growth, competitive landscape, and impact of Covid-19 on the Smart Cities market. Further, the Smart Cities market size, demand forecast, and growth rates will also be provided in the report.