PUBLISHER: Grand View Research | PRODUCT CODE: 1406006
PUBLISHER: Grand View Research | PRODUCT CODE: 1406006
The global smart infrastructure market size is expected to reach USD 1,355.44 billion by 2030 and is projected to expand at a CAGR of 20.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The considerable growth of the market for smart infrastructure can be attributed to the significant industrialization & digitization, shifting organization focus on adoption of smart infrastructure solutions for efficiently managing businesses with larger networks, and rising demand for energy management systems to establish sustainable ecosystems by end-user companies. Additionally, rising awareness of integrating emerging technologies, including cloud computing, automation, and cybersecurity, for better resource utilization is creating robust opportunities for smart infrastructure industry growth.
Notable technological advancements and rising internet penetration worldwide are driving the growth of the smart infrastructure industry. Additionally, smart infrastructure solutions' ability to assist organizations in making data-driven decisions, minimize adverse environmental impact, and cost savings in maintenance & operations through predictive maintenance is further driving market growth. Smart infrastructure solutions derive analytics from data that assists end-users in resource allocation, policy-making, and strategic planning, supporting the industry trend. Such a benefit of smart infrastructure solutions is accelerating their adoption in various sectors such as BFSI, healthcare, and transport & logistics, among others.
Rising public & private investments in intelligent transportation systems worldwide is creating a favorable environment in the market for smart infrastructure. A growing preference for digitization of various attributes of the transportation infrastructure ecosystem has emerged as one of the key trends encouraging the implementation of smart infrastructure solutions. These solutions manage real-time traffic data, navigation systems, video surveillance devices, and sensors, among others, supporting market growth.