Mexico Smart Cities Market Size & Outlook, 2024-2030
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Mexico smart cities market highlights
- The Mexico smart cities market generated a revenue of USD 10.0 million in 2024 and is expected to reach USD 41.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 28.7% 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.
Smart cities market data book summary
| Market revenue in 2024 | USD 10.0 million |
| Market revenue in 2030 | USD 41.7 million |
| Growth rate | 28.7% (CAGR from 2025 to 2030) |
| Largest segment | Smart governance |
| Fastest growing segment | Smart Transportation |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 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, Mexico accounted for 1.1% of the global smart cities market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil smart cities market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 41.7 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 |
Mexico 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 32% in 2024. Horizon Databook has segmented the Mexico 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.
Mexico has launched the Mexico City Smart Metropolitan Mobility initiative to improve public transport and mobility by integrating bus positioning into intelligent transport systems. It would be a GNSS-based system that would improve travel security and lower crime rates.
Further, the introduction of various smart city initiatives such as smart transportation, smart public infrastructures, and smart residential projects are been rapidly adopted by state and local bodies across the country.
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Our clientele includes a mix of smart cities market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico smart cities market , including forecasts for subscribers. This country databook contains high-level insights into Mexico smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico smart cities market size, by application, 2018-2030 (US$M)
Mexico Smart Cities Market Outlook Share, 2024 & 2030 (US$M)
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