Top Smart Cities Companies

The global smart cities market is experiencing strong growth due to several important factors. Urbanization, as a growing share of the global population continues to move into cities, is putting pressure on municipalities to implement digital solutions to improve livability. Technology developments such as AI, the Internet of Things (IoT), 5G and edge computing are advancing real-time data collection and smart infrastructure that facilitates better energy use and transportation efficiencies and improved public safety. Governments around the world are committing funds for smart grids, intelligent transportation systems, and energy-efficient buildings to spur market growth.

Industry Overview

According to SkyQuest Technology “Smart Cities Market By Component (Hardware, Software, Services), By Technology (IoT, AI & ML, Cloud Computing, 5G Networking, Edge Computing), By Application, By Solution, By Region - Industry Forecast 2025-2032,” Global Smart Cities Market is projected to grow at a CAGR of over 18.4% by 2032, on account of urgent need for automating quantified data. Sustainability, and greater environmental awareness, has also prompted cities to pursue carbon-neutral communities and smart energy management systems to mitigate their ecological footprint. Economic expansion and innovation in cities, including investment in innovation hubs and smart city/technology projects, are driving market growth by stimulating investment and jobs. Together, these factors are fueling the evolution of smart, efficient, and sustainable urban areas.

Top 10 Global Smart Cities Companies

1. Verkada

Founded in 2016, Verkada is a U.S.-based provider of cloud-based physical security solutions. The company offers a unified hardware and software platform that integrates video surveillance cameras, access control systems, environmental sensors, intercoms, and alarms, and which is managed in the cloud. Verkada serves more than 33,000 organizations across the globe, with most customers being Fortune 500 companies, and focuses on straightforward installation, real-time monitoring and data security. The company aims to be an "operating system for the physical world" and has captured adoption in both private and public smart city projects. 

2. ASTEC

Headquartered in the United States, ASTEC Industries focuses on the development of construction technologies related to infrastructure and smart cities, mainly in the areas of road building, materials processing, and sustainable infrastructure solutions. The company looks to develop urban infrastructure that incorporates intelligent construction equipment, asphalt solutions, and digital monitoring technologies. ASTEC engages smart city construction technologies in the urban environment by creating more public works enduring infrastructure, more energy efficient infrastructure, and attributes that provide, and increase connectivity in urban transportation systems.

3. BRAUMS

BRAUMS is headquartered in Australia and is regarded as a leader in intelligent transport systems (ITS) and smart city solutions. The company provides a wide variety of advanced technologies used for traffic management, including AddInsight Traffic Intelligence System, which provides real-time data on traffic flow. BRAUMS also offers the Intelligent Outstation (BIO) for use in vehicle-to-infrastructure (V2X) applications, incident detection, and congestion monitoring.

4. Centch Electronics

Centch Electronics is a technology company from China that focuses on electronic components, smart sensors, and Internet of Things (IoT)-made products. Its solutions complement smart city infrastructures by providing connectivity modules, data collection devices, and energy-efficient products. The company specializes in advanced integrated sensor technologies appropriate for smart light, implemented in intelligent utilities and connected devices that improve city efficiency.

5. DGT Systems

DGT Systems provides intelligent transport management and connectivity examples customized for applications in smart cities. The company supplies upgrades for traffic control software, monitoring platforms, and data-driven infrastructure systems within an urban mobility landscape. Combining both hardware and software solutions allows DGT Systems to assist cities reduce congestion, improve road safety, and utilize public transit systems more efficiently.

6. EHang

From its base in China, EHang is an innovative autonomous aerial vehicle (AAV) technologies firm that supports smart mobility in urban areas. Its vehicles include passenger drones and courier or cargo transport drones as well as urban air mobility platforms. EHang is the most advanced manufacturer of autonomous air taxi services designed to alleviate congestion in metropolitan areas. For 2024 the company furthered advances in pilot projects for urban air mobility positioned future smart urban transport ecosystems EHang as a large part of that.

7. Evecom

Evecom specializes in digital communication systems, IoT infrastructure, and smart mobility solutions. The company develops connected devices, monitoring devices, and wireless communication systems to enhance smart city ecosystems. Evecom devices are commonly used for traffic management, environmental monitoring, and real-time data collection; empowering city administrations to make evidence-based policy decisions.

8. FETC International

FETC International, located in Taiwan, is a major provider of electronic toll collection (ETC) systems and transportation solutions. The company focuses on artificial intelligence-powered tolling, traffic management, and intelligent transportation systems (ITS). FETC International in Asia and other international markets is leading the digitization of transportation infrastructure providing multi-lane free-flow tolling and data-driven urban mobility solutions particularly in Asia and other global markets.

9. Smarter City Solutions

Smarter City Solutions is an Australian company offering digital parking and mobility management systems. It has two core parking enforcement and payment systems, Pay-by-Plate and PayStay, that enable frictionless parking payment and enforcement using cloud-based platforms. The company is focused on smart mobility ecosystems that merge the three areas of parking, enforcement, and transport management to assist cities in mitigating congestion and improve commuter experience.

10. Traffic Technologies

Traffic Technologies Limited, based in Australia, provides traffic management and road safety solutions for smart city applications. They design and produce traffic signals, electronic road signage, and intelligent traffic systems. They also have IoT-enabled platforms for traffic monitoring and control, to assist public agencies and municipalities in developing safe, smart, and efficient transport networks.

Other Leading Global Smart Cities Companies

• Cisco Systems
• IBM Corporation
• Siemens AG
• Microsoft Corporation
• Schneider Electric SE
• Huawei Technologies
• Intel Corporation
• Hitachi Ltd
• ABB Ltd
• Ericsson

Conclusion

The global smart cities market is expected to grow significantly in the coming years due to demand in urbanization, technology advancements, and sustainability initiatives. Public and private entities are investing in smart infrastructure and IoT-enabled and AI-driven systems to improve energy efficiency, transportation, public safety, and quality of life. The intersection of innovation, economic development, and sustainability is setting smart cities up to become a part of the future of urban populations, making them more connected, efficient, and environmentally sustainable for their residents. As technology advances and is adopted at a rapid pace across the globe, the smart city market is expected to double in size, providing notable opportunities for technology providers, city planners, and investors.