Annual revenue for the global smart city technology market will jump from $97.4 billion in 2019 to $263 billion by 2028, a rise of more than 150 per cent, with cumulative revenue expected to reach almost $1.7 trillion.
This is the forecast from analyst house Navigant Research, which has counted up 443 smart-city projects in 286 cities around the world for a new report. Of these, it reckons a third (34 per cent) are focused on transforming government operation, and a fifth (20 per cent) are around transportation.