GITNUX MARKETDATA REPORT 2024

Must-Know Smart City Statistics [Recent Analysis]

With sources from: smartcity.press, globenewswire.com, statista.com, nextgov.com and many more

In this post, we will explore a collection of compelling statistics highlighting the rapid growth and impact of smart cities around the world. From market sizes and rankings to investment trends and future projections, these statistics paint a vivid picture of the evolving landscape of urban development and technology integration. Join us as we delve into the data shaping the cities of tomorrow.

Statistic 1

"By 2025, the global smart city market size will reach $820.7 billion, compared to $308 billion in 2018."

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Statistic 2

"Singapore is currently ranked as the number one smart city in the world."

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Statistic 3

"60% of the world’s population is expected to live in smart cities by 2050."

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Statistic 4

"55% of Americans think investing in smart city technology is a good use of taxpayer dollars."

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Statistic 5

"By 2021, more than 73% of all connected devices will be related to smart cities."

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Statistic 6

"Lighting is expected to be the fastest-growing application for smart cities, with a 24.4% CAGR from 2019 to 2026."

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Statistic 7

"In Europe, Amsterdam is the city with the most smart city initiatives (170 projects)."

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Statistic 8

"66% of US cities are investing in smart city technology."

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Statistic 9

"US municipalities are forecast to spend up to $41 billion on smart city initiatives in 2020."

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Statistic 10

"The Asia-Pacific smart city spending is forecasted to reach $28.3 billion in 2022."

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Statistic 11

"The Middle East and Africa will see the fastest growth in smart cities, at a growth rate of 26.4% from 2020 to 2027."

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Statistic 12

"8.3 billion IoT devices were active in smart city projects globally in 2020."

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Statistic 13

"Smart transportation sector accounts for almost 40% of the global smart city market."

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Statistic 14

"Building energy management systems will account for almost 35% share in the global smart cities market by 2027."

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Statistic 15

"By 2030, automated vehicles could form two-thirds of the traffic in the cities."

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Statistic 16

"50% of smart city objectives are expected to include climate change mitigation strategies by 2025."

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Statistic 17

"93% of cities are only in the early stages of developing their smart city vision."

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Interpretation

In conclusion, the statistics presented showcase a rapidly growing global trend towards smart city development, driven by a significant increase in market size, increasing urban population, and substantial investments in technology. Singapore leads the way as the top smart city, with various regions around the world following suit with ambitious initiatives and substantial financial commitments. As smart city infrastructure continues to expand, particularly in sectors such as lighting, transportation, and energy management, the potential for innovation and sustainable urban development is vast. However, despite the progress made, many cities are still in the early stages of developing their smart city vision, indicating significant opportunities for future growth and advancement in this evolving landscape.

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