Canada Smart Cities Market Synopsis

Canada Smart Cities Market Size Was Valued at USD 1.68 Billion in 2023 and is Projected to Reach USD 4.15 Billion by 2032, Growing at a CAGR of 10.56 % From 2024-2032.

The Canada Smart Cities Market defines the innovative and interactive applications of technology-based solutions and services that are meant to address effectiveness, sustainability, and the general quality of life within Canadian cities. This market consists of several segments, namely Smart Mobility Management, Smart Public Safety, Smart Healthcare, Smart Building, and Smart Utilities, driven by enhanced hardware, software, and service subdivisions. It aims both at emerging and advanced Smart Cities, satisfying a wide range of target customers starting with governmental organizations, transits and logistics, energy and utilities companies, and healthcare and educational institutions. For this, the aim is to develop interconnected environments within cities so that data and technology can exchange information and aid in building, costs, and services for the Canadian public.

• As mentioned earlier, the Canada Smart Cities Market has been defined to be growing fast, supported by the federal level’s approach to promoting the application of smart technologies in urban growth. This market combines the highest providing options on many important areas of the world’s economy, such as SM2 – Smart Mobility Management, SPSM – Smart Public Safety, SHM – Smart Healthcare, SB – Smart Building, and SU – Smart Utilities. In achieving this goal, Canadian cities opt to provide industry-leading hardware, software, and services to optimize what it means to live in a city. The fundamentals that have continued to drive growth in the market include government policies, PDPs and investment in smart construction. These initiatives are designed to fit in the stage of development of the smart city from emerging smart cities to mature smart cities, hence the proper delivery will be relevant to the most fitting needs.
• Some of the smart city solutions’ end-users within Canada are from the government and/or municipalities; transport and logistics, energy and utilities, healthcare, and education. This broad application base indicates the complexity of integrated solutions in smart cities development by emphasizing the need to enhance public services, minimize the negative consequences of anthropogenic activities on the environment, and promote sustainable development principles at the urban level. Peculiarities of the smart city development in Canada are multifaceted, yet the central concepts of many projects include citizen activation and utilization of big data in decision-making processes which refer to a systemic approach in perspective. And as these programs progress further, the Canada Smart Cities Market shall stand as a reference to the adoption of technologies to advance smart city practices in management and planning internationally.

Canada Smart Cities Market Trend Analysis

Increasing adoption of Internet of Things (IoT) technologies

• IoT is an inclusive platform that integrates various connected devices and complex systems around urban environment for the purpose of real-time data monitoring and management. This connection enables more effective operation and strategic orchestration of this vital component of urban asset. For example, smart sensors are used in regulating traffic patterns, energy usage, and waste collection and to also ensure public safety. In line with smart cities, IoT integration also assists in the deployment of predictive maintenance for civil structures, faster and efficient handling of disaster incidences, and effective civil services that are in tandem with the residents’ standards. It reflects a growing IoT investment and creativity in applying innovative solutions to smart city initiatives throughout Canada.

Development and deployment of smart energy management systems

• Since cities are looking for ways to become more sustainable and to therefore minimize energy use, there is an increasing need for energy reduction, the incorporation of renewable energy into the market, and improvements on the stability of the power grid. Demand-side management, microgrids, energy storage systems, as well as smart energy management software are next-generation approaches that can revolutionize how cities manage energy production and consumption. Through the adoption of such systems, cities are therefore able to manage electricity usage more efficiently; save on the costs of their operations; and offer better options for energy consumers. Moreover, government support in terms of rebates and grant schemes encourages utilization of green technology and sustainable city concepts, which makes it a high-growth and potential high-reward area in the Smart City space for Canada.

Canada Smart Cities Market Segment Analysis:

Canada Smart Cities Market Segmented on the basis of solution and service, component and end-user.

By Solution And Services, Smart Mobility Management Segment Is Expected To Dominate The Market During The Forecast Period

• The Canada Smart Cities Market By Solution and Services is still in its nascent stage and growing at a fast pace, while in the same time there are specific segments in which there is a huge potential for growth within the period of the study: Smart Mobility Management. These aspects include the growth of an urban population, the quest for less traffic congestion in cities and growing awareness of the need for environmentally friendly transport. Smart Mobility Management pertains to a host of technologies or services that can improve transportation systems and some of the technological solutions include Intelligent Traffic Management, Live Information to Passengers, ride sharing and electric vehicle charging points. Such changes were intended to address issues of effectiveness, security, and sustainability of urban transport while enhancing the quality of urban life; thus, SMM is an essential component of smart city developments in Canada. More cities are now focused on solving these problems by developing smart mobility solutions, which will definably drive more growth and leadership in the Smart Mobility Management segment.

By Component, Hardware Segment Expected to Held The Largest Share

• Canada Smart Cities Market has also been bifurcated by components and in terms of the components it has been seen that the Hardware segment leads the market. This form of dominance stems from the observed trend of need for physical infrastructure needed to enable smart city developments. Sensors, smart meters, sophisticated communication infrastructure, and other interconnected devices are fundamental for the essence of smart city – real-time information gathering and processing. These devices are applied broadly within the urban sectors of transportation, utilities and safety hence are the core upon which smart city operation and management rely on to offer improved services. While such enhancements and upgrades will remain a conspicuous pipeline across various Canadian cities in the future because of continually advancing more intelligent and interconnected urban surroundings, this hardware segment is well positioned to achieve a higher value-added market share as a critical component of the smart city buildout environment.

Active Key Players in the Canada Smart Cities Market

• IBM Corporation (USA)
• Cisco Systems, Inc. (USA)
• Siemens AG (Germany)
• Schneider Electric SE (France)
• Microsoft Corporation (USA)
• Huawei Technologies Co., Ltd. (China)
• Ericsson (Sweden)
• Hitachi, Ltd. (Japan)
• SAP SE (Germany)
• Bell Canada (Canada)
• Other key Players

Key Industry Developments in the Canada Smart Cities Market:

• In March 2024, Metrolinx, the regional public transit operator for the Greater Toronto and Hamilton Area, has awarded Siemens Mobility an additional service contract to manage the track, signal, and right-of-way maintenance of the Central Region of Toronto's passenger railway infrastructure system.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. CANADA SMART CITIES MARKET BY SOLUTION AND SERVICE (2017-2032)
   1. CANADA SMART CITIES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SMART MOBILITY MANAGEMENT
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. SMART PUBLIC SAFETY
   5. SMART HEALTHCARE
   6. SMART BUILDING
   7. SMART UTILITIES
   8. OTHERS
7. CANADA SMART CITIES MARKET BY COMPONENT (2017-2032)
   1. CANADA SMART CITIES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. HARDWARE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SOFTWARE
   5. SERVICE
8. CANADA SMART CITIES MARKET BY END-USER (2017-2032)
   1. CANADA SMART CITIES MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. GOVERNMENT & MUNCIPALTIES
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. TRANSPORTATION & LOGISTICS
   5. ENERGY & UTILITIES
   6. HEALTHCARE
   7. EDUCATION
   8. OTHERS
9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Benchmarking
      2. CANADA SMART CITIES Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. IBM CORPORATION (USA)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. CISCO SYSTEMS, INC. (USA)
   4. SIEMENS AG (GERMANY)
   5. SCHNEIDER ELECTRIC SE (FRANCE)
   6. MICROSOFT CORPORATION (USA)
   7. HUAWEI TECHNOLOGIES CO., LTD. (CHINA)
   8. ERICSSON (SWEDEN)
   9. HITACHI, LTD. (JAPAN)
   10. SAP SE (GERMANY)
   11. BELL CANADA (CANADA)
10. INVESTMENT ANALYSIS
11. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies