GITNUX MARKETDATA REPORT 2024
Smart City Industry Statistics
Smart city industry is expected to reach a market size of $2.57 trillion by 2025, with a CAGR of 17.7% from 2020 to 2025.
In this post, we will explore a multitude of statistics surrounding the smart city industry, shedding light on the rapid growth and substantial economic opportunities it presents. From the increasing number of connected devices to projected market values and regional growth trends, these statistics offer valuable insights into the expanding landscape of smart cities worldwide.
Statistic 1
"By 2025, it's estimated that there will be approximately 30 billion connected devices around the world."
Statistic 2
"As of 2021, more than 500 cities globally are taking smart city initiatives."
Statistic 3
"The smart city market is projected to be worth over $820 billion by 2025."
Statistic 4
"The Asia-Pacific region is set to have the highest rate of smart city growth, with an annual growth rate of around 21% between 2020 and 2027."
Statistic 5
"About 88% of people agree that smart city initiatives are beneficial to improving quality of life."
Statistic 6
"The cost of sensors, which are the critical technology for smart cities, is expected to decrease by 30% by 2022."
Statistic 7
"Spends on smart city technology in the United States amounted to around $41 billion in 2020."
Statistic 8
"Intelligent traffic management systems, a key component of smart cities, are expected to grow at a CAGR of over 12% during 2021-2026."
Statistic 9
"By 2027, global smart security market in smart cities is expected to reach $13.63 billion."
Statistic 10
"The global market of smart space in smart cities is expected to grow from $8.9 billion in 2020 to $15.3 billion by 2025."
Statistic 11
"The Internet of Things (IoT) in smart city market is projected to reach $219.6 billion by 2025."
Statistic 12
"Smart cities are projected to create business opportunities worth $2.46 trillion by 2025 globally."
Statistic 13
"By 2023, 40% of infrastructure for smart cities will go to recurring revenue generated from public-private-partnership (PPP) model."
Statistic 14
"In 2022, 50% of all new smart city projects will be dominated by Tier 2 and Tier 3 cities."
Statistic 15
"By 2023, smart street lighting is expected to achieve a market penetration of approximately 20% across the globe."
Statistic 16
"By 2025, it is projected that the smart waste management sector will reach a market value of $3.6 billion."
Statistic 17
"By 2025, the smart parking solutions market, a component of smart cities, is projected to reach $11.13 billion."
Statistic 18
"The Middle East and Africa smart cities market size is expected to grow at a CAGR of 14.8% from 2020 to 2027."
Statistic 19
"The Europe Smart Cities market size was valued at $102.3 billion in 2020 and is expected to grow at a CAGR of 20.4% from 2021 to 2030."
Jannik Lindner
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The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.
