Latin America Smart Cities Market Size & Outlook
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Latin America smart cities market highlights
- The Latin America smart cities market generated a revenue of USD 39.2 million in 2024.
- The market is expected to grow at a CAGR of 27% from 2025 to 2030.
- In terms of segment, smart governance was the largest revenue generating application in 2024.
- Smart Transportation is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 39.2 million |
| Market revenue in 2030 | USD 150.7 million |
| Growth rate | 27% (CAGR from 2025 to 2030) |
| Largest segment | Smart governance |
| Fastest growing segment | Smart Transportation |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smart Governance, Smart Building, Environmental Solution, Smart Utilities, Smart Transportation, Smart Healthcare, Smart Public Safety, Smart Security, Smart Education |
| Key market players worldwide | ABB Ltd, Schneider Electric SE, Cisco Systems Inc, Telefonaktiebolaget L M Ericsson ADR, Honeywell International Inc, International Business Machines Corp, Itron Inc, Kapsch Group, Huawei Technologies, Microsoft Corp, Oracle Corp, Ams-OSRAM AG, SAP SE, Siemens AG, Telensa, Verizon Communications Inc, Vodafone Group PLC |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.5% of the global smart cities market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,082.3 million by 2030.
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Smart Cities Market Scope
Smart Cities Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Telensa | View profile | 101-250 | Pampisford, Cambridgeshire, United Kingdom, Europe | http://www.telensa.com/ |
| Kapsch Group | View profile | 1001-5000 | Vienna, Wien, Austria, Europe | https://www.kapsch.net/ |
| Itron Inc | View profile | 5859 | 2111 North Molter Road, Liberty Lake, WA, United States, 99019 | https://www.itron.com |
| Vodafone Group PLC | View profile | 85225 | Vodafone House, The Connection, Newbury, Berkshire, United Kingdom, RG14 2FN | https://www.vodafone.com |
| Verizon Communications Inc | View profile | 105400 | 1095 Avenue of the Americas, New York, NY, United States, 10036 | https://www.verizon.com |
| Huawei Technologies | View profile | 10001+ | Shenzhen, Guangdong, China, Asia | http://huawei.com |
| Telefonaktiebolaget L M Ericsson ADR | View profile | 99952 | Torshamnsgatan 21, Kista, Stockholm, Sweden, SE-164 83 | https://www.ericsson.com |
| Ams-OSRAM AG | View profile | 22461 | Tobelbader Strasse 30, Premstaetten, Austria, 8141 | https://www.ams-osram.com |
| Cisco Systems Inc | View profile | 84900 | 170 West Tasman Drive, San Jose, CA, United States, 95134-1706 | https://www.cisco.com |
| SAP SE | View profile | 107602 | Dietmar-Hopp-Allee 16, Walldorf, BW, Germany, 69190 | https://www.sap.com |
| Honeywell International Inc | View profile | 95000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | https://www.honeywell.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
| Microsoft Corp | View profile | 221000 | One Microsoft Way, Redmond, WA, United States, 98052-6399 | https://www.microsoft.com |
| International Business Machines Corp | View profile | 282200 | One New Orchard Road, Armonk, NY, United States, 10504 | http://www.ibm.com |
| Schneider Electric SE | View profile | 162339 | 35, rue Joseph Monier - CS 30323, Rueil Malmaison, France, F-92506 | https://www.se.com |
| Oracle Corp | View profile | 164000 | 2300 Oracle Way, Austin, TX, United States, 78741 | https://www.oracle.com |
Latin America smart cities market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart cities market will help companies and investors design strategic landscapes.
Smart governance was the largest segment with a revenue share of 31.38% in 2024. Horizon Databook has segmented the Latin America smart cities market based on smart governance, smart building, environmental solution, smart utilities, smart transportation, smart healthcare, smart public safety, smart security, smart education covering the revenue growth of each sub-segment from 2018 to 2030.
The emergence of IoT technologies and the significant penetration of global players are driving Latin America's smart cities market growth. Advancements in cloud integrations and the proliferation of digital infrastructure service providers in the region further contribute to market growth.
The global market players are improving their brand presence in Latin America to achieve higher profitability in this potential market which has also been contributing to the growth of the smart cities market in the region.
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Target buyers of Latin America smart cities market databook
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Our clientele includes a mix of smart cities market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America smart cities market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America smart cities market size, by country, 2018-2030 (US$M)
Latin America Smart Cities Market Outlook Share, 2024 & 2030 (US$M)
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