Global smart cities market to top $2 trillion by 2025

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Global smart cities market to top $2 trillion by 2025

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Artificial intelligence, customised healthcare, robotics and distributed energy generation are some technologies that will propel growth, efficiency, connectivity and urbanisation in the future. Building smart cities allow for the stead shift to urbanisation with the help of advanced technologies to optimise resources that can truly benefit the society.

AI could play a pivotal role in smart cities and large organisations such as Google, IBM and Microsoft will continue to be key tech innovators and primary drivers of AI adoption. The Asia-Pacific region have been predicted to be the fastest-growing region in the smart energy space by 2025 with over half of the smart cities being located in China. While globally, Europe will have the most smart city project investments due to the European Commission’s interest and engagement in developing these initiatives. Notably, the European e-hailing market, which at present, bring about revenues of $50 billion is likely to realise $120 billion by 2025.

Source: Energy Manager Today

Participate in the upcoming QS in conversation – “University-Public Sector Partnerships: Smart Cities” which will be held from 3-5 October 2018 in Singapore.