Smart Infrastructure Market Overview
The global Smart Infrastructure Market size was valued at USD 82 billion in 2021 and is projected to reach USD 370 billion by 2028, growing at a CAGR of 24 % during the forecast period.
Smart infrastructure is referred to as a smart system that generally uses a data feedback loop to take better decisions regarding the smart grid, smart water network, intelligent transportation network, intelligent buildings, and others. Multiple operators from various industries including public transportation, energy, and public safety are focusing on adopting smart infrastructures through data-controlled machinery that communicates with the real environment. Smart infrastructure helps in forming a smart community that incorporates digital technology like the adoption of information & communication technology (ICT) to present self-monitoring values and precision in decision-making for improving sustainability. Factors such as the growing need for efficient management of resource usage, increasing concern for public safety, and rising urbanization and industrialization are several key factors that are burgeoning the market demand. The growing need for an environment with efficient energy utilization also plays a significant role in market expansion around the world.
COVID-19 Impact Analysis
Due to the COVID-19 outbreak, many governments and local authorities announced the imposition of strict lockdowns, social distancing norms, and the closure of our brick-and-mortar stores to reduce the spread of coronavirus. Additionally, there were disruptions in the supply chain for smart infrastructure maintenance and limited transportation operations. However, a significant decline was observed because of the suspension of planned smart infrastructure maintenance in a few countries owing to the unavailability of resources and workforce. Thus, these factors are expected to decline the market growth in the short run. Moreover, the smart infrastructure market is anticipated to attract high traction for long-run outlook due to the exponential demand for maintenance management solutions, and growing digitalization during the wake of COVID-19. Thus, the market is substantially growing owing to the high adoption of smart infrastructure to make improved decisions about the smart grid, intelligent transportation network, smart water network, intelligent buildings, and many other sectors.
Smart Infrastructure Market Segmentation:
The global Smart Infrastructure Market is segmented based on type (Smart Grid, Smart Water Network, Intelligent Transportation Network, Intelligent Buildings, Others), the basis of End-use (Utilities, Transport, Communications, The built environment)
The smart grid segment is expected to be the largest segment of the Smart Infrastructure Market
Based on type, the market is segmented into Smart Grid, Smart Water Networks, Intelligent Transportation Networks, Intelligent Buildings, and Others. The smart grid segment dominated the market and accounted for the largest revenue share in 2021. The smart grid automatically responds without human intervention to changes in local power usage, which offers various benefits compared to traditional distribution systems including lower rates of electricity theft, losses, meter reading costs, and low sustained outages. Also, it lower restoration costs, reduce equipment failures and decreases levels of carbon dioxide, Sulphur dioxide, and nitric oxide emissions into the atmosphere, which helps in maintaining a green and sustainable environment. Factors such as the growing awareness of environmental conservation, the rising number of government initiatives, and the high demand for commercial building infrastructure are contributing to the segment growth across the globe.
Smart Infrastructure Market Dynamics:
Drivers:
Growing Emphasis on Sustainability & Moving to Green Energy Means to Foster Growth
The rapidly growing urbanization has to lead a rising focus on sustainability and a shift moving to green energy mediums. The significance of green energies and carbon regulation has been accelerated due to the high threat posed by global warming and carbon emissions, which stimulated several difficulties for smart cities, in attaining maintainable solutions and refining environmental danger, which prompted smart cities to achieve sustainable solutions and reduce environmental risk. For instance, in Israel, the ministry of energy announced an initiative on April 19, 2021, to reduce the effects of greenhouse gas emissions by 80%. This strategy includes shutting down coal-fired power plants, improving power grid technology, and increasing the amount of electricity produced by renewable sources. Accordingly, governments from various regions recognized smart infrastructure as being similar to smart city development projects, as they focus on providing improvements to operations, sustainability, experience, and business vitality. Also, this development enhances positivity to the urban development and national economy and increases the quality of life of the entire population responding to comprehensive challenges of sustainability. The innovative smart building and smart city technologies allow users to overcome the challenges of efficient management and streamlined various operations. Leveraging these smart city services and solution further helps to promote economic development and help to maintain ecological stability, which, in turn, stipulates market growth shortly.
Regional Analysis:
North America is expected to account for the largest Smart Infrastructure market size in 2021.
North America is expected to account for the largest market size in 2021 owing to the high adoption of new technologies and solutions, along with the presence of developed economies such as the United States and Canada. In addition, the rapid-paced industrialization and growing digitalization, as well as the development of the ICT sector are attributed to the regional market growth. Moreover, many business sectors, including government, communications, and finance, among others, are constantly undergoing digital transformation, which is also fuelling market growth. For instance, in Chicago, the Array of Things (AoT) project was introduced to enhance the living experience by collecting real-time data. Likewise, the City of San Jose and Intel entered into a strategic collaboration to deploy Intel’s IoT smart city demonstration platform for City’s green vision initiative by forming environmental sustainability and improving the life quality. Therefore, the rising number of smart city initiatives across the region is presenting various growth opportunities for the smart infrastructure market during the estimated years.
Key Market Players and Competitive Landscape
Some of the key market players operating in the global Smart Infrastructure Market are:
The Beyond Market Insights research has segmented the Global Smart Infrastructure Market report based on Type, End User, and region
Smart Infrastructure Market, Type Outlook:
- Smart Grid
- Smart Water Network
- Intelligent Transportation Network
- Intelligent Buildings
- Others
Smart Infrastructure Market, End-user Outlook
- Utilities
- Transport
- Communications
- The built environment
Smart Infrastructure Market, Regional Outlook
- North America
- Europe
- France
- Germany
- UK
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of the APAC
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of the Middle East & Africa
Smart Infrastructure Market Report Scope |
Report Attribute | Details |
Market size value in 2022 | USD 102 billion |
Revenue forecast in 2028 | USD 370 billion |
Growth Rate | CAGR of 24 % from 2022 to 2028 |
Base year for estimation | 2021 |
Historical Data | 2017 – 2021 |
Forecast Years | 2022 – 2028 |
Quantitative Units | Revenue in USD million and CAGR from 2022 to 2030 |
Report Coverage | Revenue forecast, company ranking, Trends
competitive landscape, and growth factors |
Segments Covered | Type, End-User, Applications, Region |
Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
Key companies profiled | Accenture, Echelon, Schneider Electric, Aclara, Black and Veatch, Cityzenith, Holophane, Indra, Cree, Philips, Siemens, Topcon, Sensus, LSI, and Others |
Table of Content
Smart Infrastructure Market Size, Share, Growth, and Forecast Report
1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Type
1.4.2. End-user
2. Market Overview
2.1. Introduction
2.2. Analysis by Type, 2016-2028 (US$ Million)
2.3. Analysis by End-user, 2016-2028 (US$ Million)
2.4. Market Analysis by Region, 2016-2028 (US$ Million)
3. Smart Infrastructure Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Types
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Type
3.6.2. End-user
3.6.3. Region
3.7. Value Chain Analysis
4. Smart Infrastructure Market Competition Analysis
4.1. Smart Infrastructure Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion, and Distribution
5. Global Smart Infrastructure Market Analysis by Type and End-user, 2016-2028 (US$ Million)
5.1. Type
5.1.1. Global Smart Infrastructure Market Share, by Type, 2021 and 2028
5.1.2. Global Smart Infrastructure Market Revenue, by Type, 2016-2028 (US$ Million)
5.1.3. By Smart Grid Market Analysis 2016-2028 (US$ Million)
5.1.4. By Smart Water Network Market Analysis 2016-2028 (US$ Million)
5.1.5. By Intelligent Transportation Network Market Analysis 2016-2028 (US$ Million)
5.1.6. By Intelligent Buildings Market Analysis 2016-2028 (US$ Million)
5.1.7. By Others Type Market Analysis 2016-2028 (US$ Million)
5.2. End-user
5.2.1. Market Share, by End-user, 2021 and 2028
5.2.2. Market Revenue, by End-user, 2016-2028 (US$ Million)
5.2.3. By Utilities Market Analysis 2016-2028 (US$ Million)
5.2.4. By Transport Market Analysis 2016-2028 (US$ Million)
5.2.5. Communications Market Analysis 2016-2028 (US$ Million)
5.2.6. The built environment Market Analysis 2016-2028 (US$ Million)
6. Global Smart Infrastructure Market Type Analysis by Region, 2016-2028 (US$ Million)
6.1. Smart Grid Market Analysis 2016-2028 (US$ Million)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Smart Water Network Market Analysis 2016-2028 (US$ Million)
6.3. Intelligent Transportation Network Market Analysis 2016-2028 (US$ Million)
6.4. Intelligent Buildings Market Analysis 2016-2028 (US$ Million)
6.5. Other Type Market Analysis 2016-2028 (US$ Million)
7. Global Smart Infrastructure Market End-user Analysis by Region, 2016-2028 (US$ Million)
7.1. Utilities Market Analysis 2016-2028 (US$ Million)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Transport Market Analysis 2016-2028 (US$ Million)
7.3. Communications Market Analysis 2016-2028 (US$ Million)
7.4. The built environment Market Analysis 2016-2028 (US$ Million)
8. Smart Infrastructure Market Analysis by Geography, 2016-2028 (US$ Million)
8.1. North America Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.1.1. U.S. Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.1.1.1. Type
8.1.1.2. End-user
8.1.2. Canada Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.1.3. Mexico Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.2. Europe Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.2.1. UK Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.2.1.1. Type
8.2.1.2. End-user
8.2.2. France Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.2.3. Germany Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.2.4. Spain Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.2.5. Russia Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.2.6. Italy Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.2.7. Rest of Europe Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3. Asia Pacific Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3.1. China Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3.1.1. Type
8.3.1.2. End-user
8.3.2. Japan Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3.3. South Korea Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3.4. India Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3.5. Australia Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3.6. Southeast Asia Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3.7. Taiwan Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.3.8. Rest of Asia Pacific Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.4. Latin America Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.4.1. Brazil Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.4.1.1. Type
8.4.1.2. End-user
8.4.2. Argentina Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.4.3. Rest of Latin America Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.5. Middle East Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.5.1. Israel Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.5.2. Turkey Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.5.3. Saudi Arabia Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.5.4. UAE Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.5.5. Rest of Middle East Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.6. Africa Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.6.1. Egypt Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.6.1.1. Type
8.6.1.2. End-user
8.6.2. South Africa Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
8.6.3. Rest of Africa Smart Infrastructure Market Analysis 2016-2028 (US$ Million)
9. Company Profiles
9.1. Accenture
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Echelon
9.3. Schneider Electric
9.4. Aclara
9.5. Black and Veatch
9.6. Cityzenith
9.7. Holophane
9.8. Indra
9.9. Cree
9.10. Philips
9.11. Siemens
9.12. Topcon
9.13. Sensus
9.14. LSI
9.15. Others
10. COVID-19 Impact Analysis
10.1. Global Smart Infrastructure Market, 2020 – 2028, Pre V/S Post COVID 19
10.2. Estimated Impact Of The Coronavirus (Covid-19) Epidemic On The Smart Infrastructure Market Size In 2022, By Scenario
10.3. Impact on Supply Chain and Production in Smart Infrastructure Market
10.4. Impact on Import and Export
11. Import-Export Analysis
11.1. North America Smart Infrastructure Import-Export, 2016 – 2021
11.2. Europe Smart Infrastructure Import-Export, 2016 – 2021
11.3. Asia Pacific Smart Infrastructure Import-Export, 2016 – 2021
11.4. Latin America Smart Infrastructure Import-Export, 2016 – 2021
11.5. Middle East America Smart Infrastructure Import-Export, 2016 – 2021
11.6. Africa Smart Infrastructure Import-Export, 2016 – 2021
12. Smart Infrastructure Marketing Channel Analysis
12.1. Marketing Channel
12.1.1. Direct Marketing
12.1.2. Indirect Marketing
12.1.3. Development Trend
12.2. Market Positioning
13. Smart Infrastructure Manufacturing Cost Analysis
13.1. Key Raw Materials
13.2. Key Raw Material Suppliers
13.3. Market Concentration Rate
13.4. Manufacturing Cost Structure
13.5. Process Analysis
14. Conclusion
Smart Infrastructure Market, Type Outlook:
- Smart Grid
- Smart Water Network
- Intelligent Transportation Network
- Intelligent Buildings
- Others
Smart Infrastructure Market, End-user Outlook
- Utilities
- Transport
- Communications
- The built environment
