In 2022, the revenue of smart cities industry in Malaysia amounted to around 0.48 billion U.S. dollar, an increase compared to the previous year. Statista Digital Market Insight estimated that the revenue for the smart city industry in the country will continue to increase and reach around one billion U.S. dollars by 2028.
Revenue of the smart cities market in Malaysia from 2018 to 2028
(in billion U.S. dollars)
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Revenue in billion U.S. dollars
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Definition:
Smart Cities term refers to usage of Internet of Things (IoT) technologies in order to improve the quality of life for its citizens, enhance sustainability, and optimize urban services. In a smart city, various devices and sensors are installed throughout the urban landscape to create the intelligent transportation systems, smart grids and public safety systems.
Additional information:
The Internet of Things market compromise of revenue and revenue growth as the key performance indicators. The market consists of revenue generated through selling of hardware (such as sensors, chips and other hardware), platforms (IoT platforms, security software and other software), connectivity (cellular, LoRa, SigFox and other connectivity) and services (equipment & system integration and maintenance). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.
Some of the key players include Alphabet, Huawei and Cisco.
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Statista. (August 1, 2023). Revenue of the smart cities market in Malaysia from 2018 to 2028 (in billion U.S. dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/forecasts/1410114/malaysia-smart-cities-market-revenue
Statista. "Revenue of the smart cities market in Malaysia from 2018 to 2028 (in billion U.S. dollars)." Chart. August 1, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/forecasts/1410114/malaysia-smart-cities-market-revenue
Statista. (2023). Revenue of the smart cities market in Malaysia from 2018 to 2028 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/forecasts/1410114/malaysia-smart-cities-market-revenue
Statista. "Revenue of The Smart Cities Market in Malaysia from 2018 to 2028 (in Billion U.S. Dollars)." Statista, Statista Inc., 1 Aug 2023, https://www.statista.com/forecasts/1410114/malaysia-smart-cities-market-revenue
Statista, Revenue of the smart cities market in Malaysia from 2018 to 2028 (in billion U.S. dollars) Statista, https://www.statista.com/forecasts/1410114/malaysia-smart-cities-market-revenue (last visited September 01, 2024)
Revenue of the smart cities market in Malaysia from 2018 to 2028 (in billion U.S. dollars) [Graph], Statista, August 1, 2023. [Online]. Available: https://www.statista.com/forecasts/1410114/malaysia-smart-cities-market-revenue