Indonesia Smart Cities Market revenue is projected to grow at a CAGR of 13.4% from 2023-2029

Hardware by component attained the highest revenue share in Indonesia Smart Cities Market – 6Wresearch

Hardware has acquired major revenue share in Indonesia’ smart cities industry and would expect to propel in the forthcoming years on account of initiatives such as 100 Smart Cities and 2025 Clean-from-Waste Indonesia that are continuously boosting the demand for smart meters, smart waste bins in waste management system, smart streetlights, CCTV for traffic management, among others.

According to 6Wresearch, Indonesia Smart Cities Market revenue is projected to grow at a CAGR of 13.4% from 2023-2029.  Deployment of smart public transport, smart recycling in waste management, smart meters in energy and water sectors towards the support of initiatives such as 100 Smart Cities and 2025 Clean-from-Waste Indonesia would be bolstering the smart city market and related hardware and software components in the coming years in Indonesia. Rapid transformation of Indonesia is projected to have around 83% of urban population. This has made government to make their cities smart and therefore, concept of urban development could integrate information and communication technology and the Internet of Things (IoT) in a secure and effective way to manage public assets and resources, including traffic and transportation systems, waste management and law enforcement. Moreover, nation has set a goal to provide nationwide coverage of 5G network by 2025 that would drive more opportunities for cities to maximize IoT innovations in smart projects such as smart transportation, smart power grids, and smart utility meters.

The slow progress of Smart City development in Indonesia could be attributed to inconsistent planning by local governments, particularly when leadership changes, leading to shifts in priorities that overlook previous achievements. Additionally, the lack of robust collaboration among multiple stakeholders has resulted in unsustainable partnerships, negatively impacting project implementation, and ultimately, leading to the abandonment of many initiatives, thus impeding further development.

According to Shubham Deep, Senior Research Analyst, 6Wresearch, smart mobility leads the Indonesia smart city market due to rising urbanization, with over 56% of the population residing in cities, driving demand for efficient transportation. The government's goal to achieve 20% electric vehicle adoption by 2025, coupled with substantial investments in public transportation, accentuates the importance of smart mobility in addressing traffic congestion and promoting sustainability.

The Indonesia Smart Cities Market (2023-2029) report provides an in-depth analysis with 10 figures and 2 tables, covered in 72 pages. The report comprehensively covers the market by components, and applications. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.