Newark, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global smart infrastructure market will grow from USD 370.22 Billion in 2023 to USD 2,038.48 Billion by 2033. Successful implementation of smart infrastructure necessitates an inclusive and holistic strategy, which entails the participation of a diverse set of actors, such as public entities, corporations, and citizens. Stakeholders must engage in collaborative efforts that facilitate effective coordination among different elements of smart infrastructure deployment, ensuring equitable distribution across communities. Collaboration between the public and private sectors is critical in efficiently funding and executing projects related to intelligent infrastructure solutions, which is critical by leveraging expertise from both domains.
Get a Free Sample Research Report: https://www.thebrainyinsights.com/enquiry/sample-request/14529
Smart infrastructure is strongly associated with smart cities, which strive to employ technology to enhance the welfare of city dwellers. By interconnecting intelligent infrastructural systems throughout different domains—such as transportation, energy regulation, water management, and waste disposal—smarter arrangements can be formed that are both more resourceful and ecologically sustainable for urban inhabitants.
Key Insight of the Smart infrastructure Market
Asia Pacific region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, Asia Pacific is expected to grow at the highest CAGR during the forecast period within the global smart infrastructure market. The Asia Pacific region will significantly expand. China and India are key regions within the Asia Pacific region. Urbanization in Asia is at an all-time high, with millions of individuals entering cities annually. This swift urbanization addresses infrastructure development challenges such as managing traffic congestion, accommodating burgeoning populations and tackling environmental issues. To solve these problems effectively, countries within this area are adopting smart infrastructure options to bolster efficiency and sustainability measures across their respective metropolitan areas. China has become a dominant region in the smart infrastructure market due to its extensive urbanization initiatives and robust government backing for intelligent city programs. The Chinese government's emphasis on developing innovative cities as part of its broader economic plan has fuelled major outlays into advanced technologies devoted to building smart infrastructure. Major populated cities like Beijing, Shanghai, and Shenzhen are adopting advanced tools for traffic control, energy conservation measures, and public security systems, thus contributing substantially to China's impressive market share in the global market. These factors are contributing towards the regional market growth and development.
The intelligent transportation networks segment is expected to grow at the highest CAGR during the forecast period.
The type segment includes smart grid, smart water network, intelligent buildings, intelligent transportation network, and others. Intelligent transportation networks segment is expected to grow at the highest CAGR during the forecast period. The implementation of Intelligent Transportation Network technology is fueled by remarkable progress in IoT, AI, and data analytics. These innovations facilitate live monitoring and management of transportation systems, leading to smoother traffic flow, minimized congestion, and enhanced safety. Smart traffic lights are a prime example, as they can adapt their timing based on present conditions, resulting in less vehicle waiting time. Additionally, the application of AI and ML within Intelligent Transportation Networks continues to surge, with them being utilized to assess congested areas beforehand while optimizing transport routes accordingly.
The residential segment is expected to grow at the highest CAGR during the forecast period.
The end-user segment includes residential and non-residential. The residential segment is expected to grow at the highest CAGR during the forecast period. The surge in demand for HVAC management, smart home lighting, smart meters, and door lock security systems has contributed to the growth of this segment. It's expected that heightened awareness about smart grids, the expansion of the consumer electronics sector, increased personal income in developing nations, and enhanced power line communication will further improve its prospects. This aspect indicates a positive trend towards monitoring and managing electrical and mechanical structures within buildings with smarter technology offerings.
Browse Detailed Summary of Research Report with TOC: https://www.thebrainyinsights.com/report/smart-infrastructure-market-14529
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 18.6% |
| 2033 Value Projection | USD 2,038.48 Billion |
| Market Size in 2023 | USD 370.22 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Nature, End-Use Industry, Sales Channel |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Smart Infrastructure Market Growth Drivers | Increasing Investments in Infrastructure Development |
Recent Developments:
• In May 2023: At ONUG, IBM revealed IBM Hybrid Cloud Mesh, a software-as-a-service (SaaS) offering. With the help of this solution, businesses can efficiently manage their hybrid multi-cloud architecture. Intending to automate application connectivity procedures, management, and observability, the system functions according to the "Application-Centric Connectivity" concept.
Market Dynamics
Driver: Rise of Smart Cities
Smart infrastructure development is integral to the emergence of smart cities. Creating such cities emphasizes employing technology to elevate life standards, enhance urban services efficiency and facilitate sustainable practices. As a result, globally, many municipalities are investing in technologies that support their transition into smart cities to address various challenges associated with rapid urbanization while improving citizenry welfare; this has fuelled growth within the global market for smart infrastructures.
Restraint: Cybersecurity Concerns and Data Privacy Issues
The prevalence of digital technologies and interconnected systems in smart infrastructure poses a considerable threat to cybersecurity. With the rise of data-driven connected networks, there is an elevated risk for cyberattacks on vital infrastructures such as energy grids, transportation networks, and water management systems. The ramifications could be substantial - from severe disruptions or financial losses to potential threats to public safety. This factor is restraining the current market growth and development.
Opportunity: Proliferation of the Internet of Things (IoT)
The expansive growth of the Internet of Things (IoT) substantially influences the global smart infrastructure market. By facilitating real-time data collection, communication, and control through interconnecting physical devices and systems, IoT technology has become instrumental in monitoring and managing various components of smart infrastructures, such as roads, bridges, buildings, and utilities. This factor is anticipated to have a positive impact on the market growth and development.
Some of the major players operating in the Smart infrastructure Market are:
• ABB
• Aclara Technologies LLC (Hubbell Incorporated)
• Broadcom, Inc. (VMware)
• Siemens
• Schneider Electric
• Honeywell International Inc.
• Hewlett Packard Enterprise Development LP
• L&T Technology Services Limited
• International Business Machines Corporation
• Panamax Infotech
• Huawei Technologies Co., Ltd.
• Dynamic Ratings
• Wipro
• Xylem (Sensus)
• Cisco Systems, Inc.
Key Segments Cover in the Market:
By Type:
• Smart Grid
• Smart Water Networks
• Intelligent Buildings
• Intelligent Transportation Networks
• Others
By End-user:
• Residential
• Non-residential
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Ask for Customization: https://www.thebrainyinsights.com/enquiry/request-customization/14529
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: www.thebrainyinsights.com
