According to NMSC, the global smart cities market was valued at 392.9 billion U.S. dollars in 2019. By 2030, the market is forecast to have a value of 1380.21 billion U.S. dollars.

The Report Global Covers Smart City Surveillance System and the Market is segmented by Component (Camera, Storage, Video Management System, Video Analytics) and Geography (North America, Europe, Asia Pacific, and the rest of the world). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

According to Cognitive Market Research, the global smart cities market size is USD 552158.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 16.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 220863.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1656432771.08 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 126996.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.0% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 27607.93 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 11043.17 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.7% from 2024 to 2031.
The smart transportation

Market Dynamics of Smart cities Market

Key Drivers for Smart cities Market

Rapid urban growth to increase the demand globally

Rapid urban growth is significantly driving the global demand for smart city solutions. As cities expand, the need for efficient management of resources and infrastructure becomes critical. This urbanization surge is accompanied by increasing populations, leading to greater strain on transportation systems, energy supplies, and public services. To address these challenges, cities worldwide are turning to smart technologies. These innovations enhance urban living by improving traffic management, reducing energy consumption, and streamlining waste disposal. Additionally, smart solutions foster economic development and environmental sustainability. By leveraging advanced technologies such as IoT and AI, urban areas can become more resilient, adaptive, and efficient. This transformation is essential for accommodating the burgeoning urban populations and ensuring sustainable growth in the future.

Policies and funding for smart city projects to propel market growth

Policies and funding for smart city projects are crucial drivers of market growth, providing the necessary framework and resources for development. Governments worldwide are recognizing the importance of smart cities in addressing urban challenges and enhancing the quality of life. By implementing supportive policies, they create an environment conducive to innovation and collaboration between public and private sectors. Significant financial investments are being directed towards infrastructure upgrades, technology deployment, and research initiatives. These funds facilitate the integration of advanced technologies such as IoT, AI, and data analytics into urban planning and management. Additionally, grants and incentives encourage businesses and startups to participate in smart city initiatives. This robust support accelerates the development and adoption of smart city solutions, driving substantial market expansion and progress.

Restraint Factor for the Smart cities Market

Challenges in ensuring different systems and technologies work seamlessly together to Limit the Sales

Ensuring different systems and technologies work seamlessly together poses significant challenges that can limit sales in the smart cities market. Interoperability issues arise due to the diverse range of technologies, platforms, and standards used in smart city solutions. These discrepancies can lead to integration difficulties, where systems fail to communicate effectively, resulting in inefficiencies and data silos. Additionally, the lack of unified standards and protocols complicates the deployment and scaling of smart solutions. This fragmentation not only increases implementation costs but also deters potential investors and city planners wary of technical complexities and risks. As a result, the market's growth is hampered by the slow adoption rate, as stakeholders seek reliable and compatible solutions to ensure seamless operation and long-term sustainability.

Impact of Covid-19 on the Smart cities Market

The COVID-19 pandemic has had a notable negative impact on the smart cities market. Economic downturns and budget reallocations have led to ...

The Smart City Market Report is Segmented by Solution (Smart Mobility Management, Smart Public Safety, Smart Healthcare, Smart Building, Smart Utilities, Smart Security, Smart Education) and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

According to projections, Florida's real state market will be the worst affected by sea level rise by 2100 among coastal states in the U.S. By the end of the century, 11 of the 20 cities with the highest share of total housing units projected to be in high risk flooding zones are in Florida. The city most exposed is Miramar, with 95.2 percent of its housing units expected to be at risk.

The smart city platforms market analysis report by Future Market Insights reveals that global sales of the smart city platforms market in 2022 were held at US$ 157.6 billion. The projected market growth from 2023 to 2033 is expected to be 11%.

Scope of Report

This statistic shows the cities where Caviar is the most used food delivery service in the United States as of August 2017. In that year, Caviar held a 24.1 percent share of the food delivery service market in San Francisco.

Smart Cities Market size is estimated to be valued at US$ 559.01 Bn in 2022 and is expected to expand at a CAGR of 15.4%, reach US$ 1,736.65 Bn by 2030.

According to Cognitive Market Research, the global smart city platforms market size will be USD 192541.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 77016.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 57762.36 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 44284.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 9627.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 3850.82 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The data management platform is the fastest growing segment of the smart city platforms industry

Market Dynamics of Smart city platforms Market

Key Drivers for Smart city platforms Market

Urbanization and population growth to drive market growth

Urbanization and population growth are key drivers of the Smart City Platforms Market, as they create the need for more efficient urban management solutions. Rapid migration to cities places immense pressure on infrastructure, transportation, energy, and public services. To address these challenges, smart city platforms enable cities to optimize resource allocation, improve traffic management, and enhance public safety through data-driven decision-making. As urban populations grow, the demand for sustainable and scalable solutions increases, leading to investments in technologies like IoT, artificial intelligence, and data analytics. These platforms allow city administrators to manage services in real time, ensuring smoother operations and better living conditions. Furthermore, governments worldwide are supporting smart city initiatives to handle the socio-economic impacts of urbanization, boosting the market's expansion.

Increased demand for efficient public services to boost market growth

The increased demand for efficient public services is a major driver of growth in the Smart City Platforms Market. As urban populations expand, cities face pressure to improve the efficiency and quality of essential services such as transportation, healthcare, energy management, and waste disposal. Smart city platforms provide a solution by integrating various urban services through the use of IoT devices, big data, and real-time analytics. By leveraging these technologies, cities can streamline operations, reduce costs, and respond more effectively to residents' needs. For example, smart traffic systems can alleviate congestion, while intelligent energy grids optimize power consumption. Citizens also expect more responsive and transparent services, pushing governments to adopt smart platforms to enhance service delivery and public engagement. This rising demand for smarter, more efficient services is a key factor driving market growth.

Restraint Factor for the Smart city platforms Market

Data privacy and security concerns to limit market growth

Data privacy and security concerns pose significant challenges to the growth of the Smart City Platforms Market. As these platforms rely on massive amounts of data collected from IoT devices, sensors, and city infrastructure, they become potential targets for cyberattacks and unauthorized access. Breaches in public data can compromise critical systems, including transportation, healthcare, and public safety, leading to severe consequences. Citizens are increasingly concerned about how their personal information is being used and protected, which raises issues around trust and transparency. Furthermore, stringent regulations like GDPR and other regional data protection laws require cities to ensure robust security measures, which can increase implementation costs and complexity. The fear of potential data misuse or leaks can slow down the adoption of smart city technologies, limiting market growth despite their benefits.

Impact of Covid-19 on the ...

Among the 50 largest cities by population in the United States, Milwaukee, WI, had the largest homes in 2023. The average size of a home was over 2,000 square feet, while in Portland, OR, the average home was 1070 square feet. Since 1975, U.S. homes have grown substantially bigger.

The South American City Gas Distribution Market is Segmented by Type (Compressed Natural Gas (CNG) and Pipeline Natural Gas (PNG)), End-user (Industrial, Power Sector, Residential and Commercial, and Transportation), Geography (Brazil, Argentina, Chile, and Rest of South America). The report provides market sizes and forecasts in terms of value in USD billion for all the above segments.

United States geospatial analytics market size reached USD 25.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 60.1 Billion by 2033, exhibiting a growth rate (CAGR) of 10% during 2025-2033. The growing need for facilitating data-driven decisions, along with the rising focus of government bodies on improving situational awareness and monitoring of troops and enemy movements, is primarily propelling the market growth across the country.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on component, type, technology, enterprise size, deployment mode, and vertical.

In 2023, cities like San Francisco, New York, and Toronto emerged as dominant players in the North American IoT market. San Francisco's strong presence is driven by its tech ecosystem, with key IoT firms and startups setting up operations in the city. New York has invested heavily in IoT for transportation and public safety, while Toronto's Quayside Smart City project is a flagship initiative that has cemented its position as a leader in IoT-driven urban development.

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Smart Security Market Size 2024-2028

The smart security market size is forecast to increase by USD 49.21 billion at a CAGR of 19.77% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The increasing number of smart cities globally is driving market expansion, as these urban areas prioritize advanced security solutions to ensure public safety. Another significant trend is the emergence of Internet of Things (IoT) technology in video surveillance, enabling real-time monitoring and data analysis. Complex infrastructural requirements, such as integration with access control systems and analytics software, are also fueling market growth. These factors contribute to the dynamic development of the market, offering numerous opportunities for stakeholders.

What will be the Size of the Smart Security Market During the Forecast Period?

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The market In the United States is experiencing significant growth due to increasing crime rates and the demand for advanced security solutions. Biometric access systems, wireless alarms, and smart surveillance are key technologies driving market expansion. Artificial intelligence (AI) and machine learning are revolutionizing security systems, enabling real-time threat detection and response. The Internet of Things (IoT) is integrating security into various sectors, including smart cities, commercial buildings, finance facilities, data centers, enterprises, hospitality centers, and warehouses.
Additionally, automation, cloud-based security, and AIPowered security solutions are becoming increasingly popular. Urbanization plans and the integration of AI-powered assistants like Google and Amazon's Alexa, as well as smart home devices such as thermostats and CO listeners, are also contributing to market growth. The industrial segment is expected to dominate the market due to the need for advanced security solutions in critical infrastructure and manufacturing industries.

How is this Smart Security Industry segmented and which is the largest segment?

The smart security industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Surveillance systems
  Intruder alarms
  Access control systems


End-user

  Commercial
  Residential
  Utility infrastructure
  Government spending and others


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Product Insights

The surveillance systems segment is estimated to witness significant growth during the forecast period.

The market encompasses innovative surveillance systems for residential, commercial, and industrial sectors. Key components include cameras, such as IP, CCTV, and wireless models, used for real-time monitoring and recording. Video analytics software enhances security by detecting anomalous behavior and unauthorized access. Access control systems, including biometric, smart card, and keypad technologies, regulate entry to secure areas. The Internet of Things (IoT) facilitates integration with smart homes, buildings, and cities, enabling remote monitoring and customization. Artificial intelligence (AI) and machine learning algorithms enhance threat detection and behavioral analytics.

Additionally, global crime rates underscore the necessity for advanced security solutions, with applications in finance facilities, data centers, enterprises, hospitality centers, warehouses, and more. Cloud-based security and Newtype Urbanization initiatives in Smart Cities further expand market opportunities. Integration with home ecosystems, such as thermostats, CO listeners, and ZWave-compatible smart home alarms, offers added convenience and potential insurance incentives. Privacy data and security concerns necessitate ongoing advancements in customization, personalization, and AI-powered security solutions.

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The surveillance systems segment was valued at USD 9.76 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 41% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market encompasses advanced security solutions that integrate IoT, AI, and ML technologies to strengthen the protection of residential, commercial, and industrial spaces in North America. This market offers a ra

North America Bus Shelters Market size was valued at USD 924.84 Million in 2023 and is projected to reach USD 1,561.77 Million by 2031, growing at a CAGR of 7.77% from 2024 to 2031.

North America Bus Shelters Market Overview
Bus shelters are covered buildings usually seen at bus stops and intended to protect and soothe people waiting for public transportation. These shelters provide commuters with a dedicated and protected area and typically have a roof, side walls, and seating arrangements. Depending on the infrastructure and location, bus shelters can have basic forms or sophisticated constructions with contemporary amenities like digital displays, illumination, and connectivity options. They act as a conduit between passengers and public transportation systems, making them essential for suburban and urban transportation networks.

North America FOG Market size was valued at USD 10.35 Billion in 2024 and is projected to reach USD 14.35 Billion by 2031, growing at a CAGR of 4.6% from 2024 to 2031.

North America FOG Market Drivers

Stringent Environmental Regulations: One of the primary drivers for the FOG control market is the growing number of environmental regulations aimed at reducing wastewater contamination and protecting natural water bodies. Governments and environmental agencies worldwide are imposing stringent standards for wastewater treatment and disposal. FOG, when released untreated into sewer systems, can cause blockages and even lead to the contamination of rivers, lakes, and oceans. Regulations such as the Clean Water Act in the U.S. and similar policies in other regions mandate the removal of FOG from wastewater before it enters the public sewage system. As municipalities and industries must comply with these regulations, there is increasing demand for FOG control solutions.

Rising Urbanization and Population Growth: Urbanization and population growth are significant factors driving the FOG market. As cities grow and populations increase, there is a higher volume of wastewater generated, particularly from restaurants, food processing facilities, and households. These urban centers face an escalating need for effective wastewater treatment systems to manage the higher levels of fats, oils, and grease in the sewage. FOG from food waste, oils used in cooking, and other industrial processes often overwhelm traditional wastewater systems, requiring specialized solutions to prevent clogging and protect the infrastructure.

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Physical Security Market Size 2024-2028

The physical security market size is forecast to increase by USD 48.6 billion at a CAGR of 6.79% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. Primarily, heightened concerns over terrorism and crime have led businesses and governments to prioritize security measures. Furthermore, the widespread adoption of physical security solutions across various business sectors is fueling market expansion. Access control, video surveillance, and legacy solutions such as badge readers and alarm systems are integral parts of this infrastructure. Smart city initiatives and infrastructure projects prioritize employee safety and security, necessitating the adoption of advanced physical security systems. Additionally, the development of smart cities is creating a substantial demand for advanced security technologies. These trends are expected to continue, making the physical security market a crucial and dynamic sector in the coming years.

Market Analysis

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The market encompasses various solutions designed to safeguard both digital and physical assets from potential threats. These include vandalism, burglaries, theft, and fire incidences. Technological developments have led to advanced analytics and access control systems, such as badge readers and alarm systems, which enhance security measures. Cloud-based data storages and integrated sensors enable real-time monitoring and breach detection, while threat management and intrusion prevention systems ensure unauthorized access is minimized. Advanced logical security and connectivity solutions protect system segments from cyberattacks. Physical objects, including door locks and analog cameras, are essential components of comprehensive security systems. Smart city initiatives leverage these technologies to ensure employee safety and infrastructure protection. Video surveillance and breach detection systems are crucial for maintaining security in various industries and sectors.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Hardware and software
  Services


End-user

  Large enterprises
  SMEs


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Type Insights

The hardware and software segment is estimated to witness significant growth during the forecast period. The market encompasses video surveillance, access control, and perimeter security against potential burglaries, vandalism, and fire incidences. The system segment, which includes hardware and software, dominates the market due to substantial investments in advanced technological developments, such as cloud-based data storages, advanced analytics, and connectivity. End-users require separate hardware components, including surveillance cameras, intruder alarm systems, and fire alarm systems, to safeguard their premises. Retailers are increasingly investing in electronic article surveillance systems to mitigate theft and improve inventory management. Advanced logical security solutions, like badge readers, door locks, and alarm systems, offer enhanced access control and threat management. Technological advancements include intrusion prevention, breach detection, and threat management systems, ensuring the safety of rescuers and employees.

Furthermore, smart city initiatives and infrastructure development necessitate integrated sensors, video, and access systems. The large enterprise segment faces cyber threats, necessitating advanced security measures, while SMEs require cost-effective solutions. The market is witnessing a shift towards remote monitoring and integrated storage solutions, including analog cameras, Axis network cameras, video encoders, monitors, and storage solutions.

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The hardware and software segment accounted for USD 89.80 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is characterized by the protection of vital assets and resources, driven by the adoption of advanced technologies such as IoT and smart homes. Banking institutions and other critical infrastructure are major sectors investing in surveillance systems to mitigate r

The United States Data Center Market is segmented by Hotspot (Atlanta, Austin, Boston, Chicago, Dallas, Houston, Los Angeles, New Jersey, New York, Northern California, Northern Virginia, Northwest, Phoenix, Salt Lake City), by Data Center Size (Large, Massive, Medium, Mega, Small), by Tier Type (Tier 1 and 2, Tier 3, Tier 4) and by Absorption (Non-Utilized, Utilized). Market Volume in Megawatt (MW) is presented. Key Data Points observed include IT load capacity for existing and upcoming data centers, current and upcoming hotspots, average mobile data consumption, volume of fiber cable connectivity in KM, existing and upcoming submarine cables, rack space utilization, and number of data centers by tier.

United States CMMS Software Market was valued at USD 44.89 Million in 2024 and the market size will reach USD 89.84 Million by 2031, growing at a CAGR of 8.60% from 2024 to 2031.

United States CMMS Software Market Drivers

Improved Maintenance Efficiency and Cost Savings:

Streamlined Work Order Management: CMMS software facilitates the creation, assignment, and tracking of work orders, ensuring timely completion of maintenance tasks and reducing downtime.

Preventive Maintenance Scheduling: CMMS helps plan and schedule preventive maintenance activities, minimizing the risk of unexpected equipment failures and associated repair costs.

Inventory Management: These systems enable efficient inventory control of spare parts and materials, preventing stockouts and optimizing inventory levels to reduce storage costs.

Enhanced Data-Driven Decision Making:

Improved Asset Management: CMMS software provides a centralized platform to track asset information, maintenance history, and performance data, facilitating better asset management decisions.

Data Analysis and Reporting: CMMS generates reports that can be used to identify maintenance trends, analyze equipment performance, and optimize maintenance strategies for cost-effectiveness.

Increased Productivity and Transparency:

Improved Communication and Collaboration: CMMS streamlines communication between maintenance teams, managers, and other departments, enhancing collaboration and ensuring everyone is on the same page.

Mobile Accessibility: Many CMMS solutions offer mobile apps, allowing technicians to access work orders, update statuses, and report issues while on the go, improving field service efficiency.

Transparency and Accountability: CMMS promotes transparency by providing a clear record of maintenance activities and associated costs, facilitating accountability within organizations.

Market-Specific Drivers in the United States:

Focus on Building Automation and Smart Buildings: The growing trend towards smart buildings with interconnected systems creates a demand for CMMS solutions that can integrate with these technologies for efficient maintenance.

Aging Infrastructure and Asset Management: The aging infrastructure in the United States necessitates effective asset management strategies, making CMMS a valuable tool for extending the lifespan of critical assets.

Demand for Cloud-Based Solutions: The preference for cloud-based software due to its scalability, affordability, and ease of access is driving the adoption of cloud-based CMMS solutions in the US market.

While the market offers promising growth, some challenges exist:

Implementation Costs and Training: The initial costs of purchasing and implementing CMMS software, along with training employees on the new system, can be a hurdle for some businesses.

Data Integration Challenges: Integrating CMMS with existing enterprise software systems can be complex, requiring technical expertise and potentially incurring additional costs.

Security Concerns: As CMMS software stores sensitive asset and maintenance data, ensuring robust cybersecurity measures is crucial to prevent data breaches.

Smart Cities Market is growing at a CAGR of 24.7% from 2023 to 2032 | Projected to reach US$ 1,913.84 Bn by 2032 | Valued at US$ 331.37 Bn in 2022