Smart Cities: Paving the Way for Sustainable, Connected Urban Living
Smart Cities Industry Overview The global smart cities market size is expected to reach USD 3,728.3 billion by 2030, registering a CAGR of 25.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to rapid favorable government initiatives worldwide and emerging technologies, such as Artificial Intelligence (AI), cybersecurity, big data analytics, and the Internet of Things (IoT). This has encouraged several countries to invest in smart city projects to manage infrastructure and assets. Further, the increasing adoption of Electric Vehicles (EVs) has also created a demand for the development of charging infrastructure in cities globally. Due to this, it provides energy storage and creates new revenue streams from EV batteries. These benefits will further boost the smart cities market's growth during the forecast period. The smart cities market is witnessing a high i...