German smart city market to grow 16.5% per year to 2022

Monday 31 July 2017 | 09:00 CET | News
The smart city market in Germany is expected to grow from revenues of EUR 20.4 billion in 2017 to EUR 43.8 billion in 2022, equal to average annual growth of 16.5 percent according to a study by Arthur D Little for industry group Eco. 

The report found the market is interesting not just for internet companies, but other industries as well, and now is the time to start launching products and testing services with customers. A big challenge is ensuring the scale needed, through cooperation with other companies, to bring the new services to market.

The biggest segment of the market is smart mobility services, such as intelligent parking systems, integration of different traffic systems and smart traffic management. Also significant is the IT security and network infrastructure market, with sales of around EUR 3.5 billion in 2017 and expected average annual growth of more than 13 percent. The study also predicts strong growth in the education market (+27% per year) and high investment in healthcare as part of the smart city development. 

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