(MENAFN- GlobeNewsWire - Nasdaq) Key opportunities in the smart cities market include growth in solutions and services, notably in smart transportation. Asia-Pacific leads expansion, with China as a key market. Focus areas: innovative services, AI-driven management, public-private partnerships, and emerging markets, especially in sustainable infrastructure.

Dublin, Nov. 13, 2025 (GLOBE NEWSWIRE) -- The "Smart Cities Global Market Opportunities And Strategies To 2034" has been added to ResearchAndMarkets's offering.

Smart Cities Global Market Opportunities And Strategies To 2034 offers essential insights for strategists, marketers, and senior management to evaluate the global smart cities market's trajectory as it recovers from COVID-19. This comprehensive report spans 15 key geographic zones, providing a detailed perspective on market impacts due to the pandemic and pathways for emergence and growth post-COVID-19.

The smart cities market is experiencing robust growth as technological advancements and environmental imperatives drive transformative urban developments. Targeting the periods of 2019-2024, and amid projections extending to 2034, the market's evolution is evident. The global smart cities market reached approximately $792.02 billion in 2024, expanding at a compound annual growth rate (CAGR) of 11.41% since 2019. Projections indicate a continued rise, reaching an impressive $1.88 trillion by 2029 at a CAGR of 18.89%, and escalating further to $4.41 trillion by 2034 with a CAGR of 18.61%.

The expansion during the historic period was propelled by IoT proliferation, advancements in smart devices, escalating traffic and mobility challenges, the integration of 5G technology, and significant infrastructure investments. However, cybersecurity threats and substantial implementation costs posed challenges. In the forecast period, growth will be driven by an increasing appetite for smart homes, stringent environmental measures, demand for energy efficiency, smart grid adoption, and the rise of sustainable building practices. Yet, potential impediments include geopolitical tensions, regulatory complexities, and socio-political and ethical issues.

Dissecting the market by components, solutions were the leading segment in 2024, valued at $594.91 billion and comprising 75.11% of the market. However, services are anticipated to be the faster-growing segment through 2029, showcasing a CAGR of 23.66%. By application, smart transportation led, accounting for 28.29% or $224.04 billion in 2024, and it is expected to remain the fastest-growing application segment with a CAGR of 21.59%.

Geographically, Asia-Pacific dominated the smart cities market in 2024, with 46.32% of the market share, equivalent to $366.88 billion. The rapid growth trajectory for this region is expected to persist, with Asia-Pacific and Eastern Europe leading future market expansion at CAGRs of 22.36% and 19.40%, respectively. Africa and South America follow closely with projected CAGRs of 19.19% and 15.69% respectively.

Market dynamics indicate fragmentation, with numerous small-scale players. In 2024, the top 10 players, including Cisco Systems Inc. and Siemens AG, had only a 9.48% market share collectively. Cisco led with a 2.58% market share. Region-specific opportunities are notable, with the solutions segment poised to gain $716.33 billion by 2029, and smart transportation expected to see a $371.43 billion increase in the same timeframe. China's market expects a $292.86 billion boost.

Strategic market trends involve enhancing real-time location tracking, advancing multifunctional smart lighting, bolstering urban ecosystems through partnerships, and integrating AI for traffic management. Major players are advised to pursue service innovation to boost urban efficiency, emphasize AI-driven solutions, and leverage emerging and developed markets. Establishing public-private partnerships, implementing value-based pricing, engaging stakeholders, and enhancing end-user participation in transportation are critical for capitalizing on growth opportunities in smart cities.

Chapter Highlights

• Market Characteristics: Detailed segmentation, including components and applications.
• Key Trends: Major market trends and anticipated developments.
• Growth Analysis: PESTEL analysis and market growth rates, both historical (2019-2024) and forecast (2024-2029, 2034F).
• Regional and Country Analysis: Detailed analysis including regional breakdowns and comparative market shares.
• Market Segmentation: Comprehensive market values and growth analysis for different components and applications.
• Competitive Landscape: Profiling leading players with estimated market shares and company strategies.
• Mergers and Acquisitions: Key financial details of influential recent mergers and acquisitions.
• Market Opportunities and Strategies: Identification of growth opportunities by geography and segment, with strategic advice.
• Conclusions and Recommendations: Strategic recommendations for service and product offerings, geographic expansion, and target marketing strategies.

Companies Featured

• Cisco Systems Inc
• Siemens AG
• Honeywell International Inc
• Microsoft Corporation
• Schneider Electric SE
• Hitachi Ltd.
• NEC Corporation
• ABB Ltd.
• Huawei Technologies Co Ltd.
• International Business Machines (IBM) Corporation
• Fujitsu Limited
• Govee
• Telkom
• PT Solusi Tunas Pratama Tbk. (STP)
• PT Len Industri (Persero)
• PT Sisindokom Lintasbuana
• Qualcomm Technologies
• SB Technology (SBT)
• Cybertrust Japan Co., Ltd.
• ZTE
• Inspur
• CRRC
• SenseTime
• Yitu Technology
• Dahua Technology
• Hikvision
• SuperMap
• Tuya Inc.
• WeRide
• Sentient KK
• Intel Corporation
• ABB Group
• Nokia Corporation
• Accenture
• Capgemini
• Dell Technologies
• Infosys Limited
• Ecube Labs
• Seoul Robotics
• Neubility
• Deep In Sight Co., Ltd.
• SAP SE
• Koninklijke Philips N.V.
• Infineon Technologies AG
• General Electric Company
• AT&T Inc.
• Emerson Electric Co.
• NXP Semiconductors N.V.
• Atsuke
• Giesecke+Devrient GmbH
• HID Global Corporation
• Scheidt & Bachmann GmbH
• Robert Bosch GmbH
• Oracle Corporation
• Patrizia
• Telefonica, S.A.
• Yunex GmbH
• BT Group plc
• Milestone Systems
• Urbana Smart Solutions SRL
• Actility
• GoodVision
• Rekola
• ECOTEN
• Sensority, s.r.o.
• DataFromSky
• Glovo
• Mycroft Mind, a.s.
• InnoConnect s.r.o.
• SENSORTEC s.r.o.
• CITIQ s.r.o.
• Cities Ai
• AI4Cities
• Telensa
• ENIS Solutions
• AiVA Vision
• NTechLab
• Rostec
• Sitronics Group
• 2GIS
• Verizon
• Ericsson
• Kapsch Group
• Nice Systems
• Airobotics
• Verint Systems
• Mobily
• Nemo
• DataVolt
• Turkcell
• Turk Telecom
• Etisalat Group
• du Telecommunications
• Orange
• Rabbit Mobility
• Dimension Data (an NTT company)
• EOH Holdings

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