Global smart city tech market revenue to hit $1.7 T by 2028


Monday, 12 August, 2019


Global smart city tech market revenue to hit $1.7 T by 2028

The global smart city technology market is projected to earn $1.7 trillion in revenue between 2019 and 2028, according to a new report.

The report — developed by Navigant Research — looks at the global smart city market, focusing on the government, energy, water, mobility and building industries and breaks down smart city technology revenue forecasts by industry and region.

Their analysis showed that smart cities are now putting emphasis on deploying communication, energy and transportation solutions, among others, at scale, in ways that meaningfully combat urban challenges, including climate change. Navigant Research also said it’s important to demonstrate how successful approaches can be replicated across cities to address common problems.

Navigant Research Research Director Eric Woods said, “Smart cities are gradually instrumenting the urban fabric at every layer and cross-sector benefits are being realised.

“This trend is reinforced by the growing importance that cities place on data analytics and creative approaches to delivering efficient, effective and sustainable services,” Woods concluded.

Image credit: © stock.adobe.com/au/adam121

Related News

Plug-fest sees 10 smart city products become TALQ certified

Ten smart city products have been certified TALQ compliant by the TALQ Consortium following its...

Transparency and privacy key issues at Smart Cities Council meeting

The meeting gathered Smart Cities Council members and stakeholders to explore current issues...

Local ICT companies to upgrade City of Darwin's tech

The City of Darwin has awarded more than $1 million to three local ICT businesses for new...


  • All content Copyright © 2019 Westwick-Farrow Pty Ltd