Smart city connections in Europe in 2024

The number of smart city connections in Europe have been growing steadily since 2018. Between 2022 and 2023 the number of connections grew by nearly 20 percent and is expected to continue growing at a similar rate through the decade.

Smart city connections in Europe from 2018 to 2029 (in millions)

Characteristic	Connections in millions
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Supplementary notes

Data provided by Statista Market Insights are estimates.

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 pure IoT revenues generated through the sale 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 (integration &maintenance of equipment & systems). As an example, the pure IoT revenue for a smart security camera is only the component that makes the camera "smart" and connected, not the full product price. 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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