The Middle East & Africa Smart Cities Market is projected to reach $40.38 billion by 2030, at a CAGR of 25% during the forecast period of 2024 to 2030. The growth of this market is driven by the increasing demand for sustainable urban infrastructure and growing investment in smart mobility and utility solutions. However, the significant initial investment requirements restrain the growth of this market. Furthermore, the growing integration of artificial intelligence and increasing deployment of advanced technologies such as IoT, AI, and big data analytics are expected to create market growth opportunities. However, the risk of data abuse by large corporations is a major challenge for the players operating in this market. The latest trends in the Middle East & Africa smart cities market are the proliferation of connected vehicles and autonomous drones.
Integration of Artificial Intelligence Provides Opportunity for the Growth of the Middle East & Africa Smart Cities Market
Artificial intelligence, machine learning, and data automation are pivotal to the development of smart cities. Artificial intelligence has become an integral part of many industries and is now being used to automate municipal operations across smart city projects. Smart cities use AI-driven technologies to improve sustainability and safety and provide residents with smart infrastructure. Machine learning and AI can also be helpful in waste collection, management, and disposal, which are vital municipal activities. AI can analyze how city resources are being utilized and gauge the overall functioning of systems. It assists city planners in understanding how a city is responding to various changes.
Artificial intelligence is crucial for building smart cities. The deployment of AI-enabled intelligent machines powered by Machine Learning creates a cyber-physical space, which includes traffic sensors, medical monitoring, industrial control systems, video cameras, environment sensors, and smart meters. The data generated by these intelligent sensors and systems can be analyzed, and insights can be leveraged for better decision-making and city planning.
Click here to: Get Free Sample Pages of this Report
Key Findings in the Middle East & Africa Smart Cities Market Study:
The Smart Utilities Segment to Register the Highest CAGR During the Forecast Period
Based on solutions, the smart utilities segment is projected to register the highest CAGR during the forecast period. The increasing need to optimize asset performance, gain insights into utility usage patterns, the increasing need to optimize asset performance, rising adoption of utility solutions to make performance improvements and enhance operational transparency, and the utilization of digital technologies such as advanced analytics and the Internet of Things (IoT) are expected to support the growth of this segment.
The Services Segment to Register the Highest CAGR During the Forecast Period
Based on component, the services segment is projected to register the highest CAGR during the forecast period. The increasing implementation of services to enhance the challenges of mobility, city services, and public safety and promote sustainability, the growing adoption of smart city services to enhance public safety by monitoring CCTV/ video/ surveillance solutions, and the rising use of smart services to reduce operational costs by smart infrastructure monitoring and management is expected to support this segment's growth.
The Cloud Computing Segment to Register the Highest CAGR During the Forecast Period
Based on technology, the cloud computing segment is projected to register the highest CAGR during the forecast period. The increasing adoption of the cloud computing platform to manage traffic management systems, public safety systems, and energy management systems and the growing demand for data storage, processing, and analysis in urban areas are expected to support the growth of this segment.
UAE to be the Fastest-growing Regional Market
In 2024, the UAE is expected to account for the largest share of the Middle East & Africa smart cities market, followed by Saudi Arabia, Israel, Qatar, and the Rest of Middle East & Africa. Also, the UAE is projected to register the highest CAGR during the forecast period. The rising initiatives for reducing carbon emissions & improving the quality of life, the increasing need for smart parking, waste management, and air quality monitoring, the rising government initiatives for promoting smart city initiatives through various policies and funding programs, and the growing adoption of new technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and blockchain contribute to the rapid growth of this regional market.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by the leading market participants in the Middle East & Africa smart cities market in the last three to four years. The key players operating in the Middle East & Africa smart cities market include Cisco Systems, Inc. (U.S.), Huawei Investment & Holding Co., Ltd. (China), IBM Corporation (U.S.), Siemens AG (Germany), Cognizant Technology Solutions Corporation (U.S.), Capgemini (France), Schneider Electric SE (France), Fujitsu Ltd. (Japan), Robert Bosch GmbH (Germany), Atos SE (France), LTIMindtree Limited (India), and General Electric Company (U.S.).
Scope of the Report:
Middle East & Africa Smart Cities Market Assessment, by Solution
- Smart Citizen Services
- Smart Public Safety
- Surveillance
- Command & Control Centers
- Smart Governance
- Smart Emergency Management
- Smart Law Enforcement
- E-Governance
- Smart Street Lighting
- Smart Education
- Smart Healthcare
- Connected Healthcare Solutions
- Telemedicine
- Smart Environment
- Climate Monitoring
- Smart Waste Management
- Air Quality Monitoring
- Noise Mapping & Monitoring
- Smart Buildings
- Smart Building Market, by Solution
- Smart Energy Management
- Smart Facility Management
- Safety And Security Management
- Smart Lighting Control Systems
- Elevators & Escalators Management Systems
- Smart Building Market, by Type
- Commercial Buildings
- Public Buildings
- Residential Buildings
- Smart Transportation
- Smart Transportation Market, by Solution
- Traffic Management Systems
- Parking Management Systems
- Freight Information Systems
- Ticketing & Travel Management Systems
- Passenger Information Management Systems
- Smart Transportation Market, by Application
- Roadways
- Railways
- Airways
- Waterways
- Smart Utilities
- Smart Energy Management
- Smart Grid
- Smart Meter
- Smart Energy Storage
- PV Monitoring
- Meter Data Management
- Power Electronics Converters
- Smart Water Management
- Smart Distribution Management
- Other Smart Solutions
Middle East & Africa Smart Cities Market Assessment, by Component
- Hardware
- Endpoint Devices
- Processing Devices
- Network Devices
- Other Devices
- Software
- IoT Device Software
- Gateway Software
- Cloud Software
- Computing Device Software
- Other Software
- Services
- Consulting Services
- System Integration & Deployment Services
- Infrastructure Monitoring & Management Services
- Network Services
- Other Services
Middle East & Africa Smart Cities Market Assessment, by Technology
- IoT (Internet of Things)
- Artificial Intelligence
- Cloud Computing
- Machine Learning
- Machine-To-Machine Communications
- Other Technologies
Middle East & Africa Smart Cities Market Assessment, by Country/Region
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- Qatar
- South Africa
- Egypt
- Oman
- Rest of Middle East & Africa
Key questions answered in the report:
