Smart Cities

• [New] Yes, multipurpose and smart materials are important now and IDTechEx forecasts that radically new smart city technology may rise to around $1.7 trillion yearly in 20 years.
• Global spending on smart cities initiatives is projected to hit a staggering $189.5 billion in 2023.
• PricewaterhouseCoopers forecast a steady increase in smart city development around the world over the next few years.
• Global spending on smart city technologies is expected to see a 22.7% increase by 2025.
• The Egyptian market presents a great investment opportunity particularly in the fields of the Internet of Things, 5G applications, and smart city solutions.
• Smart cities alone represent a massive business - and social - opportunity, as governments could invest nearly $900 billion in smart city solutions annually by 2023.
• Smart cities will create significant business opportunities with a market value of US$ 2.46 trillion by 2025.
• Smart cities are forecast to generate business opportunities worth US$ 2.46 trillion by 2025 and Frost & Sullivan expects at least 26 smart cities to be established by then.
• Global spending on smart city projects is expected to more than double in the next five years.
• Frost & Sullivan has issued a new report that suggests spending on smart city solutions will grow at a compound annual rate of 22.7% to reach $327 billion by 2025, from $96 billion in 2019.
• Global spending on smart-city technology will climb to 13 trillion yen ($122.7 billion) in 2020, rising to 20 trillion yen in 2023.
• The Global Smart Cities Market is expected to be around US$ 2241.63 Million by 2025 at a CAGR of 23.1% in the given forecast period.
• Spending on smart cities worldwide is expected to reach USD 34.35 billion by 2020.
• The market that grows up around new smart city infrastructure in the next five years will create business opportunities with a value of $2.46 trillion by 2025.
• Smart cities will create significant business opportunities with a market value of $2.46 trillion by 2025, globally.
• Research by IDC conducted pre-pandemic forecast that $189.5 billion (about £144 billion) will be spent worldwide on smart cities initiatives by the year 2023.
• With $135 billion in technologies projected to be spent on cities by 2021, smart cities will evolve from discrete flagship projects to sizable market opportunities which will improve the quality of life for citizens and visitors.
• Global spending on smart city initiatives is expected to surpass $100 billion.
• The smart cities market is expected to have a 20% growth rate per year, from over $300 bn in 2015 to over $750 bn in 2020.
• The smart building market is expected to register a CAGR of over 23% over the forecast period (2020-2025).
• The estimation of overall market of smart cities will equal $2.57 trillion by 2025, increasing at a clip of 18.4% per year on average.
• IDC's latest forecasts show that by 2020, related to a total investment of global smart city market will reach $114.4 billion, an increase of 11.1% over the 2019 year.
• Latin America and Japan will experience the fastest growth in smart cities spending in 2020.

Last updated: 10 January 2021