Malaysia Smart Cities Market (2023-2029) | Companies, Forecast, Growth, Analysis, COVID-19 IMPACT, Share, Size, Value, Revenue, Trends & Industry

Malaysia Smart Cities Market Synopsis

The Malaysia Smart Cities Market has been attaining substantial growth and a number of factors have a key role to play in its prominent growth. For the past few decades Malaysia has been witnessing rapid growth in urbanisation with recently 78% of the Malaysian population is living in urban areas concentrated in large cities such as Kuala Lumpur, Penang, Johor Bahru and Melaka. This provided significant demand for resources, land, infrastructure and essential services provision and provides ample opportunities to smart city projects in the country. In 2019, the federal government proposed the Malaysia Smart City Framework developed by the Ministry of Housing and Local Government which acted as a catalyst for smart city implementation, especially for local governments. There are 4 pilot project smart cities under development in the country namely Kuala Lumpur, Kota Kinabalu in Sabah, Kuching in Sarawak, Johor Baharu in Johor are driving the continuous demand for smart solutions in the country.

According to 6Wresearch, Malaysia Smart Cities market size is anticipated to grow at a CAGR of 12.2% during 2023-2029F. Malaysia’s Smart City Framework under the 12th Malaysia Plan 2021-2025 as well as Ipoh targeted to become smart city by 2030 under Smart City 2030 action plan would effectively address urbanisation challenges faced by the people of Ipoh and develop Ipoh as a Green and Low Carbon City by 2030 would contribute to the growth of the Malaysia smart cities market. Additionally, Town and Country Planning Department (PLAN Malaysia) and the state government have recently launched Johor Smart City Blueprint 2030 in line to make Johor developed by 2030 and estimates to benefit nearly four million people in the state which would further create lucrative opportunities for the smart cities market during the forecast period.

Market by Components

Hardware devices such as sensors, IoT devices, communication systems and other smart devices hold maximum revenue share in the development of smart cities market in Malaysia as these components forms the essential infrastructure for developing smart technologies such as smart mobility, smart digital infrastructure, and others.

Market by Application

Smart mobility holds the maximum revenue share as this smart application involves integrating smart cities Kuching and Kota Kinabalu, with features such as real-time transit data and efficient traffic management. Additionally, the transformation of Ipoh into a green, low-carbon smart city with a strong focus on smart mobility is leading to increase the smart mobility section and decrease in congestion, better air quality, and an elevated quality of life for urban residents.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Malaysia Smart Cities Market Overview
• Malaysia Smart Cities Market Outlook
• Malaysia Smart Cities Market Forecast
• Malaysia Smart Cities Market Pestel Analysis
• Historical Data and Forecast of Malaysia Smart Cities Market Revenues, for the Period 2019-2029F
• Market Drivers and Restraints
• Historical Market Data and Forecast of Revenues, By Components, for the Period 2019-2029F
• Historical Market Data and Forecast of Revenues, By Applications, for the Period 2019-2029F
• Smart Cities Outlook
• Market Opportunity Assessment
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Components

• Hardware
• Software
• Services

By Application

• Smart Governance
• Smart Digital Infrastructure
• Smart Mobility
• Smart Environment
• Smart Living
• Smart People
• Smart Economy