Smart Cities

• Smart cities will create significant business opportunities with a market value of US$ 2.46 trillion by 2025.
• Smart cities are forecast to generate business opportunities worth US$ 2.46 trillion by 2025 and Frost & Sullivan expects at least 26 smart cities to be established by then.
• Global spending on smart city projects is expected to more than double in the next five years.
• Frost & Sullivan has issued a new report that suggests spending on smart city solutions will grow at a compound annual rate of 22.7% to reach $327 billion by 2025, from $96 billion in 2019.
• Global spending on smart-city technology will climb to 13 trillion yen ($122.7 billion) in 2020, rising to 20 trillion yen in 2023.
• The Global Smart Cities Market is expected to be around US$ 2241.63 Million by 2025 at a CAGR of 23.1% in the given forecast period.
• Spending on smart cities worldwide is expected to reach USD 34.35 billion by 2020.
• The market that grows up around new smart city infrastructure in the next five years will create business opportunities with a value of $2.46 trillion by 2025.
• Smart cities will create significant business opportunities with a market value of $2.46 trillion by 2025, globally.
• Research by IDC conducted pre-pandemic forecast that $189.5 billion (about £144 billion) will be spent worldwide on smart cities initiatives by the year 2023.
• With $135 billion in technologies projected to be spent on cities by 2021, smart cities will evolve from discrete flagship projects to sizable market opportunities which will improve the quality of life for citizens and visitors.
• Global spending on smart city initiatives is expected to surpass $100 billion.
• The smart cities market is expected to have a 20% growth rate per year, from over $300 bn in 2015 to over $750 bn in 2020.
• The smart building market is expected to register a CAGR of over 23% over the forecast period (2020-2025).
• The estimation of overall market of smart cities will equal $2.57 trillion by 2025, increasing at a clip of 18.4% per year on average.
• IDC's latest forecasts show that by 2020, related to a total investment of global smart city market will reach $114.4 billion, an increase of 11.1% over the 2019 year.
• Latin America and Japan will experience the fastest growth in smart cities spending in 2020.
• Most quicker investments into the smart cities will grow in Latin America and Japan.
• Global spending on smart cities initiatives will total nearly $124 billion this year, an increase of 18.9% over 2019.
• A steady increase of smart city development around the world with the total value of the global smart city market projected to exceed US$ 2.5 trillion by 2025.
• Smart infrastructure: Large-scale creation of smart buildings and use of smart sensors could save roughly $940 billion by 2030.
• The global smart city market is expected to grow from USD 288,365.65 million 2017 to USD 862,853.35 million by the end of 2024 at a Compound Annual Growth Rate of 16.95%.

Last updated: 29 November 2020