2023 Global smart city technology revenue over 170 billion

Creating a more sustainable, resilient and livable city is of crucial importance to all nations in the world. In particular, rapid urbanization in Asia and Africa is driving strong growth in the smart city technology market. Smart City technology connects hungry modern grids, water treatment and conversion systems, transportation management systems and energy-efficient buildings.

According to the latest report by Navigant Research, a US market research institute, the revenue of global smart city technology will increase from 8.8 billion U.S. dollars in 2014 to 27.5 billion U.S. dollars in 2023.

"The new infrastructure for rapidly growing cities is gaining the support of ICT, which is deeply embedded in the urban fabric and is dramatically changing the way cities are developed and the way people live and work." According to Eric Woods, research director at NavigantResearch, "Cities Leaders support such innovations to achieve the sustainable development goals, promote local economies and improve service. "

An important driver of global smart city project innovation is the opportunity to capitalize and harness big data. The ability to process implemented, highly granular data across a broad range of urban operations and services is changing the way urban environments are managed and developed. However, city managers must deal with some serious challenges before the city can fully enter the era of big data. In particular, there is a lack of suitable technicians among urban government employees.

The new report examines the evolution of the global smart city market and details the impact on the core technology market, including smart grids, water management, transportation, building energy efficiency and government services. The report distinguishes between different approaches to smart cities by providing a comprehensive view of the smart city projects of interest in every major global area.

Note: This article uses the exchange rate of 1 US dollar = 6.2027 yuan