Global Smart Infrastructure Market is valued at approximately USD 119.03 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 23.80% over the forecast period 2023-2030. Smart infrastructure refers to the integration of advanced technologies and digital connectivity into traditional infrastructure systems to enhance their efficiency, sustainability, and overall functionality. The goal of smart infrastructure is to use data and technology to make cities and other built environments more intelligent, responsive, and user-friendly. This approach helps to address various challenges faced by modern urban areas, such as population growth, resource management, and environmental concerns. The Smart Infrastructure market is expanding because of factors such as the rising implementation of telecommunication networks, increasing focus on sustainability & switching to green energy resources.
Telecommunication networks play a crucial role in enabling the connectivity and communication required for smart infrastructure. The implementation of telecommunication networks provides the connectivity, data transmission, and communication capabilities necessary for the growth and development of smart infrastructure. It enables the integration of diverse systems, enhances efficiency, and unlocks the potential for innovative applications in areas such as transportation, energy, water management, and public services. Thus, the rising implementation of telecommunication networks is driving market growth. For instance, In May 2021, Mavenir collaborated with Cisco Systems and National Telecom Public Company Limited (NTI) to develop the networks of the future using cloud-native, open architecture software, making Ban Chang the first fully operational 5G-based smart city in Thailand. Also, The U.S. Environmental Protection Agency (EPA) is developing clean energy strategies for the year 2022-2026, and putting distribution networks, smart grids, and other things into place that are significantly reducing carbon emissions. Such initiatives are driving market growth. In addition, increasing technological advancement in smart grid technology and rising government investment are creating new opportunities for market growth. However, cyber security threats and privacy concerns over telecommunication technology hamper the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Smart Infrastructure Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as the increasing adoption of new technologies and solutions, rising government initiatives by promoting the adoption of green energy technologies, and rising development of new norms and policies in the region. Whereas, Europe is projected to grow at a significant rate owing to factors such as rising government investment in the development of smart communication networks, rising implementation of smart technologies and surging urbanization in the region.
Major market player included in this report are:
International Business Machine Corporation
Schneider Electric SE
Cisco Systems, Inc.
General Electric Company (GE)
Honeywell International Inc.
Huawei Technologies Co., Ltd.
Johnson Controls International plc
Recent Developments in the Market:
Ø In June 2021, Cityzenith joined the Digital Twin Consortium by creating the SmartWorldOS software platform. This platform creates virtual representations of structures, towns, and other infrastructure to detect, monitor, and optimize carbon emissions while reducing environmental harm.
Ø In May 2021, Roco Group, the global leader in bathroom design, production, and commercialization, and Schneider Electric reached an agreement to develop a roadmap for decarbonization. The agreement is divided into three stages: The Roco Group would define the vision and examine the current situation in the first phase. The Roco Group plant would be examined by Schneider Electric during the second phase to establish commitments for energy reduction and build a sustainable energy-producing unit. The organisations plan to advance the digitization of their internal processes and improve energy management in the final phase.
Global Smart Infrastructure Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, End-user, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Smart Water Network
Intelligent Transportation Network
The Built Environment
Middle East & Africa
Rest of Middle East & Africa