By 2050, the challenges facing humanity will be lost or won in cities. By then, nearly 70% of the world’s population will live in cities, against 50% now. Increased urbanization is already causing infrastructure headaches for cities which will only get worse. This is driving the creation of smart cities, a market that will be worth $833bn by 2030, by our estimates, up from $441bn in 2018.
Smart cities’ future infrastructure will rely on the analysis of data relayed by the sensors in buildings, infrastructure, transportation, and power grids, enabling city authorities to make critical decisions in real-time. The foundation will be smart city applications and platforms, whose governance, agility, and flexibility will be what makes a smart city smart.
Two closely connected factors are critical if smart cities are going to succeed: citizens’ trust over the stewardship of their data, and the cybersecurity theat. The debate over Google offshoot Sidewalk Labs’ plans for Toronto’s waterfront area demonstrates that mistrust of Big Tech means citizens will no longer allow the use of their data to be taken for granted and nor will regulators. In Barcelona, officials insist smart cities are not defined by technologies but by people. Technology is just a means to an end.
- This report provides an overview of the global smart cities market.
- It identifies the key trends impacting growth of the theme over the next 12 to 24 months.
- It includes a comprehensive industry analysis, outlining the main growth areas and the competitive landscape.
- It provides a forecast of global smart cities spending to 2030, broken down by key areas such as smart city platforms, smart buildings, smart grid, smart infrastructure, and smart transportation.
Reasons To Buy
- This report provides in-depth analysis of the global smart cities market, highlighting leading players across different segments of the value chain.
It provides analysis of the growth potential of the theme and identifies recent technological developments and upcoming areas of interest.
- It identifies highlights specific cities that have taken a leadership role in the drive to become smart and discusses key elements of their strategies.