Global Big Data Market in Smarter Cities, By Data Generators (Sensors, Actuators, Digital Signage, Cameras, Others), Technology (Network Technology, Storage), Deployment (On Cloud, On Premise, Hybrid), Programming Model (Parallel Algorithm, Distributed Algorithm), Analytical Tool (Hadoop, NoSQL), Application (Smart Governance, Smart Energy, Smart Building, Smart Mobility, Smart Infrastructure, Others) – Industry Trends and Forecast to 2029.
Big Data Market in Smarter Cities Analysis and Size
The increased use of big data analytics by governments to improve smart cities and people's quality of life is what is driving the market for big data in smarter cities. The Internet of Things (IoT) and big data analytics are combined to make cities smarter and more sensible. Smart cities include both the essentials and cutting-edge technology for comfortable and high-quality living. Big Data makes it easier to develop smart cities by providing useful insights from vast amounts of data gathered from diverse data producers. As a result, the big data market in smarter cities will further propel over the forecast period.
Global big data market in smarter cities was valued at USD 211.36 million in 2021 and is expected to reach USD 1777.90 million by 2029, registering a CAGR of 30.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Big Data Market in Smarter Cities Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Data Generators (Sensors, Actuators, Digital Signage, Cameras, Others), Technology (Network Technology, Storage), Deployment (On Cloud, On Premise, Hybrid), Programming Model (Parallel Algorithm, Distributed Algorithm), Analytical Tool (Hadoop, NoSQL), Application (Smart Governance, Smart Energy, Smart Building, Smart Mobility, Smart Infrastructure, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Cisco Systems, Inc. (U.S.), IBM (U.S.), Siemens (Germany), Microsoft (U.S.), Hitachi Ltd.,(Japan), Schneider Electric (France), Huawei Technologies Co., Ltd (China), Intel Corporation (U.S.), NEC Corporation (Japan), ABB (Switzerland), Telefonaktiebolaget LM Ericsson (Sweden), Itron Inc., (U.S.), Oracle (U.S.), Fujitsu (Japan), Honeywell International Inc.,(U.S.), Accenture (Ireland), SAP SE (Germany), Sensoneo (Finland), Big belly solar, LLC (U.S.)
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Market Opportunities
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Market Definition
Smart cities have adopted smart governance, smart energy, smart buildings, smart mobility, smart infrastructure, smart technology, smart healthcare, and smart citizen solutions and technologies. Big Data makes it easier to develop smart cities by providing useful insights from vast amounts of data gathered from diverse data producers.
Big Data Market in Smarter Cities Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Accelerating Urbanization across the Globe
The smart cities have largely changed the human existence. Living in a smart environment is now feasible because to the transition from conventional computer to advanced computing with an increase in linking gadgets and sensors. Urbanization depends on social and communication infrastructure in addition to physical infrastructure. The big data and internet of things (IoT) have contributed significantly to the success of the smart city programme by providing a significant amount of data gathered from diverse sources. Unstructured data gathered through various methods makes up the majority of such data. Through highly networked services, IoT enables the integration of sensors, actuators, radio frequency, and Bluetooth in a real environment. Big data is becoming more important in creating smart cities due to the increased emphasis on efficiency brought on by rising urbanization.
- Favourable Initiatives Carried Out By The Government
The governments around the world have played a significant role in the smart cities business through rules and programmes aimed at deploying smart services as a significant component of their infrastructure. For instance, the General Services Administration's (GSA) Smart Building initiative, launched in May 2012, sought to lower costs and promote smart services through upgraded federal government buildings, largely through connected technologies. As a result of its emphasis on energy and climate goals, the market for smart cities in Europe is anticipated to expand significantly. To advance toward a low carbon future in this region, the government is concentrating on energy distribution using effective models and policies. Additionally, governments of developing nations like China, South Korea, Dubai, India, Singapore, and Japan aim for the economic growth of their nations. Therefore, the market is largely accelerating owing to the government's various favorable initiatives.
Furthermore, the growing adoption of big data analytics by governments to enhance smart cities will accelerate the overall market expansion during the forecast period. Additionally, the improvement in people's living standards is anticipated to drive the growth rate of the big data market in smarter cities. The rising disposable income of the population will further positively impact the market's growth rate during the forecast period.
Opportunities
- Adoption Of Various Advanced Technologies
The increased adoption of various advanced technologies is further estimated to generate lucrative opportunities for the market, which will further expand the big data market in smarter cities’ growth rate in the future. Advanced technologies such as the artificial intelligence, machine learning, big data, and block chain are being used to build smart cities. The use of these technologies in smart cities worldwide is rising due to their expanding use across numerous industries.
- Increased Investments
Additionally, the growing investment in environmentally friendly and sustainable technologies further offer numerous growth opportunities to the big data market in smarter cities. For instance, Saudi Arabia announced a $500 billion investment in the construction and development of the new city of Neom.
Restraints/Challenges
- High Implementation Costs
The cost is one of the factors that affects how quickly a market expands, and high implementation costs might slow that expansion. Smart technology implementation demands a significant financial investment. Infrastructure is needed to adopt cutting-edge technology such as smart parking systems, smart homes, virtual power plants, smart workplaces, and smart industries. These technologies can be quite expensive to build an infrastructure. Therefore, the high costs as well as the investments required are further expected to obstruct market growth over the forecast period.
- Data Privacy Concerns
Big Data's most pressing issue is the delicate one of data privacy and security, which most corporations are dealing with. As businesses feed more and more customer and vendor data into cutting-edge, AI-powered algorithms to create new sensitive information, unaware of the affected customers and employees, privacy concerns are emerging. This is particularly true in the field of smart cities, where there is a large amount of consumer data and where issues related to big data have been primarily centered on collecting consumer data. As a result, these data privacy issues will further create various challenges for the big data market in smarter cities.
This big data market in smarter cities report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the big data market in smarter cities contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Big Data Market in Smarter Cities
The big data market in smarter cities was immensely impacted by the outbreak of COVID-19 as the governments and local authorities have enacted strict lockdowns, movement restrictions, and the closure of neighborhood brick and mortar stores. The lockout had an impact on financial flow for the businesses, which had an impact on investments in smart cities. The whole world's attention was directed toward containing the rising virus, resulting in the big data market in smarter cities suffering. Also, the shortage of workers has impacted the ability of the government and other stakeholders to fulfil the requirements of intelligent city planning and initiatives. Additionally, the pandemic seriously affected the global manufacturing and healthcare industries.
However, several organizations have tried integrating cutting-edge technology like AI and IoT in order to address the issues caused by the pandemic. Digital city adoption is expected to be aided by the use of e-health and e-government services, as well as by emerging trends like remote employment, online education, and use of technology in common people's daily lives. With the start of vaccination campaigns and the restart of markets and trading near the end of the year, the market appeared to be recovering; however, the terrible second wave of the pandemic put an end to this. It may take some time before the global smart city market recovers to its pre-pandemic levels because of the ongoing semiconductor shortage, the energy crisis, and the Omicron-variant coronavirus appearance.
Recent Developments
- In May 2020, Cisco developed new products to enhance big data and analytics performance and boost the effectiveness of IT operations.
- In January 2020, to enable real estate and facility management professionals to more effectively utilise office space and provide a more enjoyable workplace environment, IBM added AI capabilities to its TRIRIGA system. With the help of this improvement, customers managing sizable real estate portfolios will be able to make better, data-driven decisions about how to manage their workspace.
Global Big Data Market in Smarter Cities Scope
The big data market in smarter cities is segmented on the basis of data generators, technology, deployment, application, programming model and analytical tool. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Data Generators
- Sensors
- Actuators
- Digital Signage
- Cameras
- Others
Technology
- Network Technology
- Storage
Deployment
- On Cloud
- On Premise
- Hybrid
Programming Model
- Parallel Algorithm
- Distributed Algorithm
Analytical Tool
- Hadoop
- NoSQL
Application
- Smart Governance
- Smart Energy
- Smart Building
- Smart Mobility
- Smart Infrastructure
- Others
Big Data Market in Smarter Cities Regional Analysis/Insights
The big data market in smarter cities is analyzed and market size insights and trends are provided by country, data generators, technology, deployment, application, programming model and analytical tool as referenced above.
The countries covered in the big data market in smarter cities report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the big data market in smarter cities because of the growing adoption of big data analytics coupled with the presence of a well-established infrastructure within the region over the forecast period of 2022 to 2029. Moreover, the many cities are largely becoming g smarter, which is further estimated to accelerate the expansion over the forecast period.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing population in cities within the region. Moreover, the rising number of smart cities in developing economies such as India, China, and Korea is a significant contributor to the regional market expansion.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Big Data Market in Smarter Cities Share Analysis
The big data market in smarter cities competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to big data market in smarter cities.
Some of the major players operating in the big data market in smarter cities are
- Cisco Systems, Inc. (U.S.)
- IBM (U.S.)
- Siemens (Germany)
- Microsoft (U.S.)
- Hitachi Ltd. (Japan)
- Schneider Electric (France)
- Huawei Technologies Co., Ltd (China)
- Intel Corporation (U.S.)
- NEC Corporation (Japan)
- ABB (Switzerland)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Itron Inc., (U.S.)
- Oracle (U.S.)
- Fujitsu (Japan)
- Honeywell International Inc.,(U.S.)
- Accenture (Ireland)
- SAP SE (Germany)
- Sensoneo (Finland)
- Big belly solar, LLC (U.S.)
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