Spending on smart city technology is expected to reach US$327 billion by 2025, up from US$96 billion in 2019, according to a new forecast from Frost & Sullivan.
The analyst company said an uncertain post-pandemic situation will compel cities to focus on developing collaborative, data-driven infrastructure for use in healthcare, public security services and more.Artificial intelligence and data-driven solutions are expected to be in high demand, with growing opportunities for crowd analytics, open data dashboards and digital city services.
Investments in smart technologies are also expected to rise over the next two years. Cities have already invested in contact-tracing wearables and apps, open data platforms, autonomous drones and crowd analytics to fight COVID-19, according to the report, and smart grids, intelligent traffic management, autonomous vehicles, smart lighting and e-governance services are expected to gain traction when the pandemic passes.
+INFO: Cities Today