Smart Infrastructure Market Segmentation:
Offering Segment Analysis
Product segment is predicted to dominate over 70.5% smart infrastructure market share by 2035, attributable to the adoption of smart technologies such as smart grid systems, BAS, and IoT-based environmental monitoring products. Smart grids optimize the operation of electrical services effectively concerning reliability over its components such as smart meters and advanced distribution management systems. The segment is driven by rapid urbanization, high focus on sustainability goals, and technological advancements. For instance, in February 2024, NEC Corporation India unveiled Advanced Smart City Tech Products such as NEC Mi-Command, NEC Mi-City, NEC Mi-Eye, and NEC Mi-WareSync setting the stage for global expansion.
Type Segment Analysis
The Smart Transportation System (STS) segment is expected to register a staggering revenue CAGR during the forecast period owing to the increasing need for transportation solutions to obtain efficiency, safety, and sustainability. STS is rapidly evolving with the integration of advanced technologies such as AI, IoT, and data analytics. Government transportation authorities and private firms are pooling investments to support and enhance the sustainable transportation ecosystem.
End user Segment Analysis
The non-residential segment has emerged as a dominant sector in the smart infrastructure market, comprising commercial, industrial, and institutional users. The demand for advanced technologies, such as smart energy management, intelligent transportation systems, and data analytics platforms is surging, to enhance operational efficiency, decrease costs, and improve customer experience. The investments in smart infrastructure is likely to ensure optimum use of energy consumption, ease of maintenance, and safety and security by non-residential users while increasing productivity and competitiveness. The sector is expected to continue playing a leading role in driving the growth of the market and account for the largest share of total revenue within it.
The residential area is poised to grow significantly during the forecast period due to increasing demand for smart home technologies and appliances. For example, India approved 12 new industrial smart cities along with other infrastructure projects to boost India’s manufacturing ecosystem. The smart city projects under the National Industrial Corridor Development Programme (NICDP) will entail an investment of USD 3.41 billion.
Our in-depth analysis of the market includes the following segments:
|
Offering |
|
|
Type |
|
|
End user |
|
