Meticulous Research® Releases Comprehensive Report on Middle East & Africa Smart Cities Market, Forecasted to Reach $40.38 Billion by 2030
Meticulous Research®, a global leader in market research and
consulting, has published a new comprehensive report titled, “Middle East
& Africa Smart Cities Market by Solution (Smart Citizen Services, Smart
Utilities, Smart Transportation), Component (Software, Hardware, Services),
Technology (IoT, AI, Cloud Computing, Machine Learning), and Geography -
Forecast to 2030.” This latest analysis projects that the Middle East &
Africa smart cities market will achieve a valuation of $40.38 billion by 2030,
representing a robust compound annual growth rate (CAGR) of 25% over the
forecast period.
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The report highlights the key drivers, challenges, and
opportunities shaping the smart cities market in the region. The escalating
demand for sustainable urban infrastructure, coupled with substantial
investments in smart mobility and utility solutions, are identified as primary
growth drivers. Conversely, the market’s expansion is tempered by the high
initial capital investment required. Nonetheless, the increasing integration of
cutting-edge technologies such as artificial intelligence (AI), the Internet of
Things (IoT), and big data analytics is expected to open new avenues for
growth. However, concerns around potential data misuse by large corporations
remain a significant challenge for market players.
Emerging Trends: Connected Vehicles and Autonomous Drones
One of the key trends identified in the report is the
proliferation of connected vehicles and autonomous drones, which are
increasingly being integrated into smart city frameworks across the region.
These technologies are revolutionizing urban mobility, enhancing public safety,
and contributing to the efficiency of city services.
Market Segmentation: Solutions, Components, and
Technologies
The Middle East & Africa smart cities market is
segmented based on solutions, components, and technologies. The solution
segment is further divided into smart citizen services, smart utilities, smart
transportation, smart buildings, smart environment, and other smart solutions.
In 2024, the smart citizen services segment is
expected to dominate the market, driven by the growing adoption of digital
platforms and technologies aimed at creating more efficient, sustainable, and
livable urban environments. The increasing implementation of smart public
safety measures and the rise of digital citizen engagement platforms are also
contributing to this segment's growth.
However, the smart utilities segment is poised to
experience the highest CAGR during the forecast period. This growth is
attributed to the rising need for optimizing asset performance, improving
operational efficiencies, and gaining insights into utility usage patterns. The
adoption of advanced utility solutions is becoming increasingly critical as
cities strive to enhance transparency and operational efficiency.
In terms of components, the market is divided into services,
hardware, and software. The hardware segment is expected to hold the
largest market share in 2024, owing to the rising adoption of hardware
components such as sensors, which are crucial for data collection, transfer,
processing, and storage in smart city ecosystems.
On the other hand, the services segment is
anticipated to register the fastest growth, fueled by the increasing demand for
implementation, installation, and maintenance services for advanced smart city
technologies. The growing focus on integrating various smart city components to
enhance public safety, mobility, and sustainability is also driving this
segment’s expansion.
The report further segments the market based on technology
into IoT, cloud computing, machine learning, AI, machine-to-machine
communications, and other emerging technologies. The cloud computing
segment is expected to lead the market in 2024, reflecting the increasing need
for scalable and efficient data management solutions in smart cities. Moreover,
this segment is also forecasted to achieve the highest CAGR, underlining the
growing importance of cloud-based platforms in managing urban systems,
including traffic, public safety, and energy management.
Regional Insights: UAE Leading the Market
Geographically, the Middle East & Africa smart cities
market is segmented into the UAE, Saudi Arabia, Israel, Qatar, and the Rest of
Middle East & Africa. The UAE is projected to dominate the market in
2024, driven by the widespread adoption of new technologies such as IoT, AI,
and blockchain. The UAE government’s proactive initiatives, including policies
and funding programs aimed at promoting smart city development, are also
playing a critical role in this growth. Additionally, the country’s commitment
to reducing carbon emissions and enhancing the quality of life through smart
technologies is further bolstering its market position. The UAE is also
expected to register the highest CAGR during the forecast period.
Key Market Players
The report identifies several key players driving the Middle
East & Africa smart cities market. These include global giants such as
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.).
About
Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as
Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under
the Companies Act, 1956. Since its incorporation, the company has become the
leading provider of premium market intelligence in North America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and
values. Since the inception, we have only thrived to research, analyze, and
present the critical market data with great attention to details. With the
meticulous primary and secondary research techniques, we have built strong
capabilities in data collection, interpretation, and analysis of data including
qualitative and quantitative research with the finest team of analysts. We
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