Smart City Technology Market Will Reach $775 Billion By 2021

August 30, 2017 in News by Ken


The rise of global cities, all of which will be Smart Cities, will be driven by Technocracy and its need for a Total Awareness Society. The juggernaut of Sustainable Development (aka Technocracy) is on fire thanks to the love for money, and there are trillions to be had.  TN Editor

The smart city market is one of the fastest growing segments of government and is set to hit $775 billion in 2021, according to BCC Research.

In just a few years, the number of smart cities has grown from approximately two dozen to more than 100, and it’s just the tip of the iceberg, with more than 600 cities set to “go smart” in the next few years.

“This is a large and growing market. There are currently around 100 smart city projects, and we think in a short period of time that will expand to roughly 10-13% of medium to large cities. We see about 5,000 cities of that size and 600 will go to smart city technology in the fairly near term,” said Michael Sullivan, BCC analyst and author of the report, Smart Cities: Growing New IT Markets. The report defines a medium city as having a population of more than 150,000 people, and a large city as having a population of more than 500,000 people.

There is increased interest in smart cities due to the convergence of information and communications technology, particularly when it comes to advanced connectivity and analytics software and hardware. This includes IoT sensors and analytics platforms to coordinate information within departments and across city agencies.

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