India Smart Cities Market 2023 | Industry Size, Share and Forecast 2028

IMARC Group, a leading market research company, has recently releases report titled, “India Smart Cities Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the India smart cities market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the India smart cities market?

The India smart cities market is projected to exhibit a growth rate (CAGR) of 18.9% during 2023-2028.

What is smart cities?

Smart cities are urban environments that utilize advanced technology and data-driven solutions to enhance the quality of life for their residents while improving the efficiency of various municipal operations. These cities leverage digital infrastructure, sensors, and information and communication technology (ICT) to create a more connected, sustainable, and responsive urban ecosystem.  They also focus on optimizing the use of resources such as energy, water, and transportation. This includes initiatives like smart grids for electricity, water management systems, and intelligent traffic management.

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What are the growth prospects and trends in the India smart cities industry?

The India smart cities market is experiencing remarkable growth, driven by the government’s strong commitment to urban development through flagship initiatives like the Smart Cities Mission. Public-private partnerships have played a pivotal role in funding and implementing smart city projects, ensuring sustainable development. Additionally, the COVID-19 pandemic has underscored the importance of digitalization and contactless services, further accelerating the adoption of smart city solutions in areas such as healthcare, e-governance, and education. Furthermore, the Internet of Things (IoT) and data analytics are reshaping the landscape of Indian smart cities. These technologies enable real-time monitoring of essential services like water supply, waste management, and transportation, leading to improved efficiency and resource utilization. Moreover, the incorporation of renewable energy sources and eco-friendly practices within smart city frameworks aligns with India’s environmental goals and resonates with the growing global focus on sustainability. Moreover, the convergence of 5G technology poised to unlock a new realm of possibilities. Ultra-fast, low-latency connectivity will enable the seamless integration of devices and systems, facilitating innovations like autonomous vehicles and advanced public safety measures.

What is included in market segmentation?

The report has segmented the market into the following categories:

Focus Area Insights:

Smart Transportation Insights:

Smart Buildings Insights:

Smart Utilities Insights:

Smart Citizen Services Insights:

Breakup by Region:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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