Smart Infrastructure Market Size Growing At 22.80% CAGR To Hit US$ 447.79 Billion By 2028 | IMARC Group

(MENAFN- IMARC Group) IMARC Group has recently released a new research study titled“ Smart Infrastructure Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitaive landscape to understand the current and future market scenarios.

How big is the smart infrastructure market?

The global smart infrastructure market size reached US$ 121.46 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 447.79 Billion by 2028, exhibiting a growth rate (CAGR) of 22.80% during 2023-2028.

Industry Overview:

Smart infrastructure refers to a network of interconnected physical assets and digital technologies that enable more efficient, sustainable, and data-driven management of cities and various facilities. It encompasses diverse elements, such as transportation systems, energy grids, water management, buildings, and communication networks, all integrated through the Internet of Things (IoT) and advanced data analytics. Smart infrastructure aims to enhance urban living by optimizing resource usage, reducing environmental impact, and improving overall quality of life. Through real-time monitoring and intelligent automation, it enables predictive maintenance, better traffic flow, energy conservation, and responsive services. Embracing smart infrastructure solutions empowers cities and organizations to make informed decisions, foster innovation, and build resilient environments.

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Smart Infrastructure Market Trends and Growth Factors:

The rising integration of the Internet of Things (IoT), artificial intelligence (AI), and other innovative technologies are enabling the creation of intelligent infrastructure systems that optimize energy, transportation, and communication which represents one of the key factors driving the growth of the market across the globe. The increasing population and the migration of people into urban areas necessitate the development of smart infrastructure to ensure efficiency and sustainability in city management. Various governments around the world are investing in and promoting smart infrastructure projects to modernize cities, improve living standards, and reduce environmental impact.

The rising need for sustainable solutions to minimize pollution and resource depletion is driving the adoption of smart technologies in infrastructure development. The necessity for robust security solutions to protect against potential cyber threats and physical risks is also contributing to the growth of the market. Collaboration between the public and private sectors, including public-private partnerships (PPPs), is playing a crucial role in funding, and implementing smart infrastructure projects which are creating a positive outlook for the market across the globe.

What Is Included In Market Segmentation?

The report has segmented the market into the following categorie

Breakup by Type:

  • Smart Grid
  • Smart Water Network
  • Intelligent Transportation Network
  • Intelligent Buildings
  • Others

Breakup by End User:

  • Utility
  • Transport
  • Communications
  • Built Environment

Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape with Key Players:

Companies Covered:

  • Aclara Technologies LLC (Hubbell Incorporated)
  • ABB Limited
  • AVEVA Group Limited
  • Black & Veatch Holding Company
  • Cisco Systems Inc.
  • Schneider Electric SE
  • Sensus USA Inc. (Xylem Inc.)\
  • Siemens AG
  • Verizon Communications Inc.

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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