Top 10 Leading Smart Cities Companies to Watch in 2023

Smart cities are rapidly gaining traction worldwide, intending to use information and communication technologies (ICT) to improve the quality of life for residents and optimize resource management. According to recent statistics, the global smart cities market size is projected to reach $2.57 trillion by 2025, growing at a CAGR of 22.9% from 2020 to 2025.

Smart cities are urban areas that integrate various technologies to enhance sustainability. Smart city technologies often involve data analytics, the Internet of Things (IoT), and Artificial Intelligence (AI). According to a report by IDC, worldwide spending on IoT is forecast to reach $1.1 trillion in 2023. Furthermore, the use of AI in smart city applications is expected to grow at a CAGR of 30.6% from 2020 to 2025, driven by factors such as the increasing availability of data and the growing demand for more efficient and sustainable urban solutions.

The success of smart cities relies on seamless integration and communication between the public and the private sector. For example, using smart surveillance cameras, planning and developing cities with absolute meticulousness, and using innovative solutions to tackle infrastructure and security issues. Electric vehicles could also help streamline the frequency of the electric grid while not in use, thus leading to a cleaner environment. 

54% of the world's population lives in cities, and this is expected to rise to 66 % by 2050, adding roughly 2.5 billion people to the urban population over the next three decades. This is reason enough to emphasize building smart cities with the right technology and reducing carbon emissions. 

While the potential benefits of smart cities are significant, it is important to consider the potential risks and challenges associated with these technologies. These include concerns around privacy, data security, and equitable access to smart city services. Therefore, city leaders and technology companies must work together to ensure that smart city solutions are implemented ethically, equitably, and sustainably. Overall, smart cities hold tremendous potential for improving the quality of life in urban areas.

In this issue of CIO Insights, we speak with several industry stalwarts and leaders in the technology space to shed light on the growing demand for smart cities and the best way to implement them. They share their learnings, growth trajectory, understanding, and possible solutions to make our world more sustainable for future generations. 

Clarity Movement

David Lu - Co-founder

Clarity Movement Co. is a team of passionate engineers and scientists focused on making a positive impact in the world by tackling the global air pollution crisis. We leverage our expertise in air sensing technology, IoT devices, and data analytics to create solutions that empower communities to make more informed decisions and improve their quality of life.


Fredrik Kekäläinen - CEO

Enevo is a company that works in data analytics, container asset management, and logistics software for the waste and recycling industry. Enevo was originally founded in Finland in 2010 by Fredrik Kekäläinen and Johan Engström.

Inscape Data

David Lin - CTO We have established several patents based on outdoor PoE technology. Based on Inscape Data's patent-protected technology, the LinkPower™ All-in-One-Box LPS outdoor PoE switch products offer a unique combination of flexible installation and Layer 2+ and Layer 3 management features, which simplify wiring, integration, and network management for small-size and large-scale network deployment projects.


TOM DEITRICH - CEO Itron enables utilities and cities to safely, securely, and reliably deliver critical infrastructure services to communities in more than 100 countries. Our proven portfolio of smart networks, software, services, meters, and sensors helps our customers better manage energy and water for the people they serve.


David Reeser - CEO OpiAID is a data science company on a mission to make addiction treatment safer and more effective. We offer decision support technology to clinicians with the goal of improving patient retention in Medically Assisted Treatment (MAT) leading to better clinical outcomes, additional revenue for clinics, and reduced cost to payers when treating patients with opioid use disorder (OUD).


Yona Shtern - CEO

ParkWhiz is an e-parking service that allows users to book parking spaces before reaching their destinations. ParkWhiz's headquarters is located in Chicago, Illinois.

Premise Data

Maury Blackman - CEO

The premise makes sourcing insights better for organizations and individuals alike by combining our technology with communities of global smartphone users in more than 135 countries. When you join our team, you join a group of driven and talented experts at the top of their game, working to democratize the way actionable data is sourced and used.


Amr Salem - CEO

Through our award-winning Quantela Platform and pioneering outcomes business models, we empower cities and communities with the right digital infrastructure, data, and analytics to deliver greater economic, social, and environmental outcomes for their constituents.


Patrick Decker - CEO

Sensus, a Xylem brand, helps a wide range of public service providers – from utilities to cities to industrial complexes and campuses – do more with their infrastructure to improve the quality of life in their communities. We enable our customers to reach farther through the application of technology and data-driven insights that deliver efficiency and responsiveness.

Smart Rain

Dan Hymas - President Smart Rain is a smart irrigation controller technology company that's all about adding value, everything we do is about helping our customers conserve water, time, and money. We have a proven ability to add value to your real estate by helping cut water consumption which saves money, helping improve plant life which in turn saves money, and helping cut on irrigation tech costs which also saves money.