IMARC Group has recently released a new research study titled “Smart Infrastructure Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the smart infrastructure market?
The global smart infrastructure market size reached US$ 121.46 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 447.79 Billion by 2028, exhibiting a growth rate (CAGR) of 22.80% during 2023-2028.
What is Smart Infrastructure?
Smart Infrastructure refers to the integration of digital technology and analytics into traditional infrastructure elements like transportation, energy, and utilities.
Smart Infrastructure Characteristics:
One of its most defining characteristics is its ability to enhance efficiency, safety, and sustainability. Through the use of sensors, automation, and real-time data analytics, smart infrastructure transforms static systems into dynamic, responsive ones. This focus on data-driven decision-making has led to advancements in smart infrastructure technologies, ranging from intelligent traffic management systems to automated energy grids. In terms of features, smart infrastructure offers a myriad of capabilities including real-time monitoring, predictive analytics, and adaptive control mechanisms. These elements are often managed via centralized software platforms that provide an overarching view of multiple infrastructure components, facilitating more informed management and operation.
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Smart Infrastructure Market Trends and Growth Factors:
The growing need for sustainable and efficient urban living is significantly shaping the smart infrastructure market. Government policies aimed at reducing carbon emissions and improving urban planning are in line with the growing demand for smarter, more efficient systems. This alignment fuels market growth and sets the stage for broad-scale adoption of smart infrastructure solutions.
Key drivers for this market include ongoing technological advancements in IoT (Internet of Things) and AI (Artificial Intelligence), which offer unprecedented levels of data collection and analysis.
Furthermore, increased investments in smart cities initiatives around the globe contribute to the rapid expansion of smart infrastructure applications, from waste management to public transportation. This convergence of technology, policy, and public interest creates a favorable market outlook for smart infrastructure. Government agencies, private companies, and academic institutions are collaboratively investing in research and development to further optimize and standardize smart infrastructure systems. This collaborative effort ensures that smart infrastructure will play a critical role in addressing the complex needs of a rapidly evolving global society.
What Is Included In Market Segmentation?
The report has segmented the market into the following categorie
Breakup by Type:
- Smart Grid
- Smart Water Network
- Intelligent Transportation Network
- Intelligent Buildings
- Others
Breakup by End User:
- Utility
- Transport
- Communications
- Built Environment
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape with Key Players:
Companies Covered:
Aclara Technologies LLC (Hubbell Incorporated), ABB Limited, AVEVA Group Limited, Black & Veatch Holding Company, Cisco Systems Inc., Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG, Verizon Communications Inc., etc.
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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