Market Share of Smart Cities Industry
The smart cities market is semi-consolidated during the forecast period. The major players in the market are ABB Ltd, Cisco Systems Inc., Emerson Electric Co., IBM Corporation, and Ericsson Inc. Players in the market are adopting strategies such as partnerships, innovations, investments, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In June 2023, ABB announced the acquisition of Eve Systems, a Munich-based leader in smart home products with operations in the United States and Europe, to strengthen its smart home technology portfolio. Through this acquisition, the company aims to meet the accelerating demand for smart, safe, and sustainable retrofitting of buildings driven by energy prices and climate policies.
In June 2023, Siemens AG announced the opening of Egypt's first Smart Cities Experience Centre to offer customers an immersive experience that combines the digital and real worlds. The center will showcase the latest technologies for creating efficient and sustainable smart city infrastructure, buildings, and industries. Through this concept, visitors can understand the benefits of transforming current communities into smart cities.
Smart Cities Market Leaders
ABB Ltd
Cisco Systems Inc.
Emerson Electric Co.
IBM Corporation
Ericsson Inc.
*Disclaimer: Major Players sorted in no particular order
