Smart city technologies have been around for 10-15 years, but advances in video technology and AI make it easier for city leaders to gain value from connected devices across a range of applications, from transportation and public safety to energy.
Today, the global smart city market size is estimated to be nearly $900 billion. And, according to Grandiew Research, it is projected to exceed $3.7 trillion by 2030, with compound annual growth rates (CAGR) estimated at 29.4%. In Europe, there are an estimated 54 successful smart city initiatives implemented in 113 cities, including smart lighting in Milan and modernised security in Edinburgh.
