Smart Infrastructure Takes Center Stage

Smart cities and infrastructure have significantly changed over time, and various disciplines such as building automation for facility and emergency response management, building energy optimization, parking management, and in-building communication systems, are now being widely adopted.

The global smart cities market accounted for $773.19 billion in 2016 and is expected to grow to $3651.49 billion in 2025.

Green building initiatives have taken up a center stage across many countries, especially across the Europe, North America, and APAC region. Focus on reduction in energy consumption and concerns regarding proliferation of environmental wastes are the major driving factors for development of smart cities. Transportation is another focus area.

North America is one of the prominent regions in smart cities market, which will contribute the highest revenue globally due to technological developments and considerable implementation of smart cities concept in different industry vertical segment.

Rapidly growing economies in Asia-Pacific with significant growth in IT sector will pave the path for increasing adoption and propel the market for smart cities. The region is expected to lead the market with highest growth during the forecast period.

As these smart infrastructure technology solutions are adopted, those that can implement them will have the biggest advantage when it comes to getting projects.

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