02/23/2023
“The global smart cities market size was valued at USD 1,226.9 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. The current market size in 2023 is 1,398.75 billion and growing. The increasing urbanization, the need for efficient management of resource utilization, public safety concerns, and increasing demand for an environment with efficient energy utilization are the major driving factors for the smart cities' market growth.” - Grand View Research
“The global smart mobility market reached a value of US$ 41.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 115.4 Billion by 2027, exhibiting at a CAGR of 17.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.” - IMarc Group
“The North America intelligent traffic management system market size is expected to reach USD 9.50 billion by 2030 and grow at a significant CAGR of 11.5% from 2022 to 2030. The need to restructure transportation networks owing to an expanding urban population, and increased industrialization, are projected to drive the market growth. These technologies help alleviate traffic congestion, decrease delays, and provide correct information to commuters and traffic managers. The government plans to build smart cities with improved road networks are likely to positively influence the growth of the market.” - Cision PR Newswire