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Global Smart City Market to See Exceptional Growth Through 2029 with a CAGR of 25.42% - Sustainable Development and Technological Breakthroughs, Economic Growth and Enhanced Quality of Lif...
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Forecast, 2019-2029F" report has been added to ResearchAndMarkets.com's offering. The Global Smart City Market has demonstrated a remarkable growth trajectory, valued at USD 599.67 Billion in 2023, with projections indicating a robust CAGR of 25.42% leading up to 2029. This significant advancement is reflective of the accelerating urbanization and the emergent need for sustainable and efficient urban management solutions. Smart cities epitomize the integration of digital technologies and innovative strategies to elevate the standard of living, enhance resource optimization, and effectively address urban challenges. A key impetus for this growth is the ongoing urbanization trend, with expectations of nearly 70% of the global population residing in urban localities by 2050. The shift is prompting an imperative for efficient, scalable urban infrastructures that smart city technologies are poised to address – from traffic management to energy distribution and public safety enhancement
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