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Smart City Market to grow by USD 332.5 Billion from 2025-2029, driven by IT consolidation and modernization, AI’s impact on market evolution – Technavio

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NEW YORK, Jan. 30, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global smart city market size is estimated to grow by USD 332.5 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  21.5%  during the forecast period. Increase in IT consolidation and modernization is driving market growth, with a trend towards proliferation of smart city projects in emerging economies. However, high cost of upgrading smart grids  poses a challenge. Key market players include ABB Ltd, Accenture PLC, Aeris Communications Inc., Alphabet Inc., Cisco Systems Inc., General Electric Co., Hewlett Packard Enterprise Co., Hitachi Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corp., Itron Inc., LG Corp., Microsoft Corp., Oracle Corp., SAP SE, Schneider Electric SE, Semtech Corp., Siemens AG, and Signify NV.

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Smart City Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 21.5%

Market growth 2025-2029

USD 332.5 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

19.4

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 32%

Key countries

US, Germany, UK, France, Canada, China, Spain, Brazil, Japan, and India

Key companies profiled

ABB Ltd, Accenture PLC, Aeris Communications Inc., Alphabet Inc., Cisco Systems Inc., General Electric Co., Hewlett Packard Enterprise Co., Hitachi Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corp., Itron Inc., LG Corp., Microsoft Corp., Oracle Corp., SAP SE, Schneider Electric SE, Semtech Corp., Siemens AG, and Signify NV

Market Driver

Developed economies in North America and Europe have led the way in creating smart cities for over a decade, implementing numerous projects. The Asia-Pacific region is currently the fastest-growing market for smart city technologies. Urbanization, driven by mass migration to cities, is increasing population growth in Asia, necessitating infrastructure development, particularly in emerging countries. India and China are in the planning stages and have initiated pilot smart city projects, such as the Indian government’s plan to implement these projects in 100 cities nationwide. 

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Market Challenges

In the smart city market, environmental sustainability is a major challenge. Cities worldwide are investing in smart city technologies to improve resource management and environmental monitoring. Solutions include facial recognition for public safety, surveillance for crime-fighting capabilities, and traffic safety through data-driven policing and emergency response protocols. However, tight budgets and integration complexities can hinder the adoption of cost-effective systems. Smart city initiatives in major functions like Amsterdam and Chengdu are backed by governments. Technologies like video cameras, gunshot detection sensors, and drones are used for public safety, with rapid video analytics and AI access for quick response times. Traffic signal management and congestion-free routes save energy and operational costs. Smart healthcare solutions offer transformative potential in the digital era, with advanced metering solutions and smart grids for energy savings. Business leaders seek innovative business models and cybersecurity for data stewardship and ownership. Existing infrastructure and large-scale investments require networking, software integration, and interoperability for cross-border portability and metrics. Smart city challenges include reducing crime rates, managing urban sources, and improving response times for emergency vehicles. Building owners and facility managers seek cost savings through smart city initiatives, while city managers make decisions based on extensive data. Smart healthcare market growth includes patient care delivery, caregiving, and healthcare organizations using smart metering data and utilities-related information in centralized hubs. Network operators invest in telecommunications infrastructure and cloud edge computing for network slicing and urban management. In the digital era, smart city solutions face challenges like cybersecurity, data ownership, and interoperability. Businesses and governments must navigate these complexities to achieve long-term cost savings and sustainable urban development. Novel technologies like gunshot detection, intelligent surveillance, home security systems, and smart healthcare solutions offer opportunities for improvement in public safety, resource management, and healthcare delivery.The global smart city market growth may be hindered due to the significant expenses required to upgrade smart grids. These upgrades involve additional investments in distribution systems, transmission line replacements, power delivery systems, substation digitalization, and digital controls. Power utilities and independent power producers face substantial initial capital investments as a result. The aging power infrastructure of these utilities and their increasing demand for renewable power grid integration will escalate their grid renovation budgets in the upcoming years. This financial burden stems from utilities’ earlier reluctance to invest in smart grid data management solutions, acting as a barrier to their adoption.

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Segment Overview 

This smart city market report extensively covers market segmentation by  

Application 1.1 Smart infrastructure1.2 Smart energy1.3 Smart mobility1.4 Smart security1.5 OthersComponent 2.1 Hardware2.2 Software2.3 ServicesGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Smart infrastructure-  Smart infrastructure refers to the digitalization of energy systems, buildings, and industries to enhance efficiency and sustainability. This includes advanced installations and technology systems in buildings for automating processes like heating, ventilation, lighting, security, and more. Smart infrastructure is built on four principles: data collection, analytics, feedback, and adaptability. Factors such as industrial development, commercialization, and energy optimization are driving the adoption of smart infrastructure. Technology innovation, including IoT, analytics, and cloud computing, is also playing a significant role. Governments worldwide are promoting smart city projects to improve living standards and economic growth. For instance, Japan’s plan for an autonomous, self-sorting cargo highway showcases this trend. These factors will positively impact the growth of the global smart city market.

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Research Analysis

Smart Cities are urban areas that leverage technology to enhance environmental sustainability and resource management. These cities integrate smart city technologies such as environmental monitoring, traffic safety, and public safety solutions to create a livable, efficient, and secure environment for citizens. Environmental monitoring includes the use of sensors for air quality, water management, and waste disposal. Facial recognition and video cameras are used for public safety and surveillance, while gunshot detection sensors enhance crime-fighting capabilities. Data-driven policing and emergency response protocols ensure rapid response times, and AI access enables rapid video analytics. Integration complexities and cost-effective systems are key considerations for large-scale investments in smart city solutions. Cities like Amsterdam and Chengdu have made significant strides in implementing smart city technologies with government backing. Existing infrastructure and urban sources provide opportunities for cost-effective systems, while drones offer new possibilities for urban surveillance and emergency response.

Market Research Overview

In the digital era, Smart City Market is revolutionizing urban living by integrating environmental sustainability into smart city technologies. Resource management and environmental monitoring are major functions, with facial recognition and public safety solutions ensuring a congestion-free and safe environment. Surveillance, traffic safety, data-driven policing, and emergency response protocols are essential crime-fighting capabilities. First responders, call centers, and field operations leverage real-time data and AI access for rapid response. Smart city initiatives in Amsterdam and Chengdu demonstrate government backing, with video camera and gunshot detection sensors, drones, and intelligent surveillance systems. Rapid video analytics and AI enable swift decision-making for city managers, building owners, and facility managers, leading to cost savings and operational efficiency. Existing infrastructure and large-scale investments require networking and software integration, with cost-effective systems offering long-term cost savings. Urban sources, such as vehicle traffic, electrical grids, and commute times, are optimized for smart grid efficiency, reducing energy consumption and operational costs. The transformative potential of smart city solutions extends to healthcare, with smart healthcare solutions enhancing patient care delivery, caregiving, and decision-making through extensive data analysis. Cybersecurity and data stewardship are crucial considerations in this digital age, ensuring data ownership, interoperability, and cross-border portability. Business leaders and innovative business models drive digitalization and connectivity, shaping the modern healthcare landscape with advanced metering solutions and novel technologies. Network operators and telecommunications infrastructure providers enable cloud edge computing and network slicing for urban management. Ultimately, smart city initiatives aim to improve citizens’ lives, ensuring a sustainable urban development that balances environmental sustainability, public safety, and cost savings.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationSmart InfrastructureSmart EnergySmart MobilitySmart SecurityOthersComponentHardwareSoftwareServicesGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

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SOURCE Pillsbury Winthrop Shaw Pittman LLP

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From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

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SOURCE Fibocom Wireless Inc.

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DR. PHONE FIX ANNOUNCES SECOND TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, July 18, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that, further to its news release dated May 19, 2026 and June 24, 2026 (the “Prior News Releases”), it has closed the second tranche of its non-brokered private placement (the “Offering”) of convertible debenture units of the Company (each, a “Unit”). The Company issued 726 Units, at a price of $1,000 per Unit, for aggregate gross proceeds of $726,000. Each Unit is comprised of (i) one $1,000 principal amount unsecured convertible debenture of the Company (a “Convertible Debenture”) and (ii) 3,125 common share (“Common Share”) purchase warrants of the Company (each, a “Warrant”). Additional detail on the Offering, including terms of the Convertible Debentures and Warrants, is set out in the Prior News Releases.

In connection with the Offering, the Company paid a finder’s fee consisting of an aggregate cash fee of $50,820 and issued an aggregate of 317,625 common share purchase warrants of the Company (each, a “Finder’s Warrant”) to certain qualified arm’s length parties. Each Finder’s Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.22 prior to the date that is 24 months from the date of issuance.

All securities issued pursuant to the Offering, including any Common Shares issuable upon conversion of the Convertible Debentures or exercise of the Warrants and Finder’s Warrants, are subject to a statutory hold period of four months and one day from the closing of the Offering, in accordance with applicable securities laws and TSX Venture Exchange (the “TSXV”) policies. 

The Offering remains subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is a national, award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 44 retail locations nationwide through a standardized and scalable operating platform designed to support consistent execution across multiple markets, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a focus on responsible device lifecycle management, customer service, and operational discipline, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the final acceptance of the Offering by the TSXV; and the expected use of proceeds following the closing of the Offering. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; the TSXV will provide its final acceptance of the Offering; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV final acceptance for the Offering; the potential failure to complete the balance of the Offering or to raise the full anticipated gross proceeds; market conditions and investor demand for the Company’s securities; the Company’s inability to deploy the proceeds as currently intended; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

 

SOURCE Dr. Phone Fix

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