Smart Infrastructure Market 2030: What Will Be Changes In Investment Ratio With Opportunity Analysis??Posted by Mrudula Anil Karmarkar on January 4th, 2024 San Francisco, 04 January 2024: The ReportSmart Infrastructure MarketSize, Share & Trends Analysis Report By Offering (Products, Services), By Type, By End-user (Residential, Non-residential), By Region, And Segment Forecasts, 2024 - 2030 The global smart infrastructure market size is expected to reach USD 1,355.44 billion by 2030 and is projected to expand at a CAGR of 20.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The considerable growth of the market for smart infrastructure can be attributed to the significant industrialization & digitization, shifting organization focus on adoption of smart infrastructure solutions for efficiently managing businesses with larger networks, and rising demand for energy management systems to establish sustainable ecosystems by end-user companies. Additionally, rising awareness of integrating emerging technologies, including cloud computing, automation, and cybersecurity, for better resource utilization is creating robust opportunities for smart infrastructure industry growth. Notable technological advancements and rising internet penetration worldwide are driving the growth of the smart infrastructure industry. Additionally, smart infrastructure solutions’ ability to assist organizations in making data-driven decisions, minimize adverse environmental impact, and cost savings in maintenance & operations through predictive maintenance is further driving market growth. Smart infrastructure solutions derive analytics from data that assists end-users in resource allocation, policy-making, and strategic planning, supporting the industry trend. Such a benefit of smart infrastructure solutions is accelerating their adoption in various sectors such as BFSI, healthcare, and transport & logistics, among others. Rising public & private investments in intelligent transportation systems worldwide is creating a favorable environment in the market for smart infrastructure. A growing preference for digitization of various attributes of the transportation infrastructure ecosystem has emerged as one of the key trends encouraging the implementation of smart infrastructure solutions. These solutions manage real-time traffic data, navigation systems, video surveillance devices, and sensors, among others, supporting market growth. The considerable growth of the smart infrastructure market can be attributed to increasing public and private investments in smart city projects, supportive government initiatives for digitalization, and shifting focus of various end-user companies toward improving their consumer experience. Smart infrastructure collects valuable information using connected devices, cameras, and sensors to assist urban planners, transport department officials, and city leaders, among others, to provide countless benefits to citizens or end-users, thus supporting smart infrastructure market growth. Companies operating in this market, such as Siemens, Honeywell International Inc., and International Business Machines Corporation, are notably investing in developing smart infrastructure solutions, creating robust opportunities for the smart infrastructure industry. Request sample report of Smart Infrastructure Market@https://www.grandviewresearch.com/industry-analysis/smart-infrastructure-market-report/request/rs1 For instance, in November 2023, VMware announced a collaboration with International Business Machines Corporation (IBM) to integrate IBM Watsonx data and Artificial Intelligence (AI) on Red Hat OpenShift and VMware Private AI platform. This will enable their clients to improve operational efficiency of their AI-powered infrastructure and cloud platform. Smart Infrastructure Market Report Highlights
Shifting focus of governments of various countries such as China, India, Germany, Brazil, and South Africa towards smart cities to elevate living standards of citizens is creating a positive outlook for smart infrastructure market. Governments in these countries are launching various smart city projects, which are anticipated to fuel market growth. For instance, in April 2022, the Government of Mpumalanga province in South Africa announced the transformation of Nkosi city, which is located near the Kruger National Park, into a smart city. The project is valued at around USD 5.24 billion and has received all government approvals. Furthermore, various governments are organizing smart city exhibitions, which is propelling market growth. For instance, in October 2023, the Government of New York organized Smart City Expo USA 2023 in partnership with National League of Cities (NLC) and the African American Mayors Association (AAMA). The event was held at Pier 36 NYC, New York, and visited by various key market players who presented their latest technology-equipped smart infrastructure solutions, demos, and workshops, among others. Smart Infrastructure Market Report Scope
The growth of market is very high and pace is accelerating. The smart infrastructure market is characterized by a high degree of innovation owing to rapid advancements in various technologies such as Artificial Intelligence (AI), Machine Learning (ML), big data analytics, cybersecurity, and Blockchain, among others. Further, emerging AI and cloud platforms are disrupting the current market and creating new opportunities for market stakeholders. Key Companies & Market Share Insights Some of the key players operating in the market include ABB; Honeywell International Inc., International Business Machines Corporation; Siemens; and Cisco Systems, Inc.
Panamax Infotech, Huawei Technologies Co., Ltd., and Dynamic Ratings, Inc. are some of the emerging market participants in the smart infrastructure market.
List of Key Players in the Smart Infrastructure Market
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