Smart Cities Market Size

Robert Thomas19 Jul, 2024News

The global smart cities market size reached US$ 1,233.7 Billion in 2023. Looking ahead, IMARC Group predicts that the market will grow to US$ 4,633.9 Billion by 2032, showing an annual growth rate of 15.4% from 2024 to 2032.The widespread adoption of the Internet of Things (IoT) and artificial intelligence is driving the market. For example, in November 2023, Chandigarh Smart City Limited (CSCL) launched an AI-driven chatbot, 'BIRBAL,' aimed at improving the citizen services experience in the city. Moreover, it is specifically designed to offer accurate information and guide citizens toward appropriate resources, thereby creating seamless experiences for residents.