AI in Smart Cities Market Top Players - IBM Corporation, Microsoft Corporation, Google LLC, Intel Corporation, Cisco Systems, Inc.
Type - Cloud and On-Premises, By Component - Hardware, Software, Services. The report also covers key countries in each region for market trends and competitive strategies. The report provides comprehensive market analysis, trends, and forecast to 2028. The AI in Smart Cities market is expected to grow significantly in the coming years. The market growth is driven by the increasing demand for AI-based solutions in smart cities.
AI in Smart Cities Market Top Players - IBM Corporation, Microsoft Corporation, Google LLC, Intel Corporation, Cisco Systems, Inc.
Date: 03-13-2025 08:11 AM CET | IT, New Media & Software
Press release from: Insightace Analytic Pvt Ltd. AI in Smart Cities Market InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global AI in Smart Cities Market- (By Application: Smart Mobility, Energy Management, Healthcare, Public Safety and Security, Waste Management, Environmental Monitoring, Water Management, Others), By Deployment Mode, By Component, By End User, By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031." According to the latest research by InsightAce Analytic, the Global AI in Smart Cities Market is valued at US$ 36.9 Bn in 2023, and it is expected to reach US$ 138.8 Bn by 2031, with a CAGR of 18.1% during the forecast period of 2024-2031.
The integration of artificial intelligence (AI) in smart cities
The integration of artificial intelligence (AI) in smart cities aims to enhance urban efficiency, sustainability, and overall quality of life. The market's growth is driven by the increasing deployment of AI in smart city applications, including transportation, energy management, and public safety. Rising investments in AI from both public and private sectors are further supporting market expansion. The implementation of AI in government-led smart city initiatives is also enhancing community engagement and improving the overall citizen experience. However, concerns surrounding data privacy, high implementation costs, and complex regulatory frameworks are notable challenges that could hinder market growth.
Prominent Players in the AI in Smart Cities Market
•IBM Corporation •Microsoft Corporation •Google LLC •Intel Corporation •Cisco Systems, Inc. •Siemens AG •Huawei Technologies Co., Ltd. •NVIDIA Corporation •Hitachi Vantara •NEC Corporation
Market Dynamics
Drivers: The growing demand for artificial intelligence (AI) in smart cities is driven by increasing concerns over inefficient urban management and declining quality of life. AI technology enables the automation and real-time analysis of data, allowing cities to optimize resource utilization, reduce traffic congestion, and enhance public safety.
Challenges: The high cost of implementation and the complexity of integrating AI systems into existing municipal infrastructure represent significant challenges for the smart cities market. Budget constraints and the substantial capital investment required to deploy AI solutions have made cities cautious about adopting these advanced technologies.
Regional Trends
The North American AI in smart cities market is expected to secure a significant share of global revenue and is projected to grow at a strong compound annual growth rate (CAGR) in the near term. This growth is driven by increasing demand for effective urban solutions to challenges such as traffic congestion and resource management, along with substantial financial investments by governments in smart city projects.
Recent Developments
•In July 2024, Oracle opened a second cloud region in Saudi Arabia, Riyadh. This is part of a $1.5 billion plan by Oracle to increase the country's cloud capacity in line with Saudi Vision 2030.
•In January 2024, IBM and the Department of Science and Technology, Government of Gujarat, signed an MoU to create and promote an AI Cluster using IBM Watson. The goal is to promote new ideas and collaboration among these institutions.
Segmentation of AI in the Smart Cities Market
AI in the Smart Cities Market- By Component •Hardware •Software •Services (Consulting, Maintenance, Training) AI in the Smart Cities Market- By Application •Smart Mobility •Energy Management •Healthcare •Public Safety and Security •Waste Management •Environmental Monitoring •Water Management •Others
About Us
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.