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Smart Infrastructure Market Overview:
Smart Infrastructure can be defined as a cyber-physical system that integrates various technological tools to manage all its components efficiently. It utilizes data feedback loops to enhance decision-making, monitor, measure, analyse, communicate, and act based on data collected by sensors. Smart infrastructure is not only based on its physical structure but also on the principles of data, analytics, feedback, and adaptability. It collects valuable information using sensors, cameras, and connected devices to provide numerous benefits to the public, such as improved productivity, liveability, and resilience of cities, towns, and communities. The Smart Infrastructure Market is projected to grow from USD 124.9 Billion in 2023 to USD 754.3 Billion by 2032, at a CAGR of 25.20% during the forecast period (2023 – 2032).
In the context of a smart city, smart infrastructure is a key enabler for smart places, using technology to capture data and insights on the built and natural environment to improve productivity, liveability, and resilience of cities, towns, and communities. Additionally, smart infrastructure is essential for a sustainable future, shaping an ecosystem that connects the real world with the digital world, making decisions based on data and analytics to empower customers to make their energy systems and processes in buildings and industries more efficient and sustainable.
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Top Key Players:
Market Segmentations:
Type: The market can be segmented based on different types of smart infrastructure, such as smart water networks, built environment, smart utilities, smart citizen services, and smart energy.
End-user: The segmentation also includes end-user categories, which may encompass various sectors such as commercial, industrial, healthcare, education, public safety, and governance
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Market Opportunities
Infrastructure such as airports, dams, public utilities, power generation, rail & bus stations, and public infrastructure among other end-users are expected to provide major growth opportunities for the market players in the coming years. The smart utility segment forms an integral part of the city infrastructure and includes multiple domains such as water treatment, energy distribution, and civil distribution infrastructure management, among others.
The smart infrastructure market encompasses various components and services aimed at optimizing and managing urban infrastructure. It includes advanced metering infrastructure (AMI), energy management, HVAC systems, lighting systems, network management, integrated workspace management systems, and more. Additionally, it covers smart utilities such as energy/power, water, gas, and others, along with smart citizen services like healthcare, education, public safety, street lighting, and e-governance.
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Regional Impact
The global smart cities market is segmented into various regions, including North America, the US, Canada, and the Asia Pacific region, with factors such as rapid industrialization, population migration from villages to urban areas, and growing demand from the Asia Pacific region expected to drive the market.
The growth in digital disruption in people’s everyday lifestyles contributes to the growth in demand for smart infrastructure solutions. Moreover, the severe supply chain disruption during the pandemic has further empowered the growth of the segment as businesses rely on smart infrastructure solutions for efficient management of their resources.
Overall, smart infrastructure plays a crucial role in utilizing information and communication technology to improve operational efficiency, share information with the public, and provide better quality government services and citizen welfare, contributing to the development of smart cities and sustainable urban environments.
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