Public Safety Wearables and Vehicle-to-Everything Connectivity Accellerator for Smart Cities
IDC forecasts Smart Cities spending to reach $158 Billion in 2022, with Singapore, Tokyo, and New York City among top spenders
Smart City initiatives will attract technology investments of more than $81 billion globally in 2018, and spending is set to grow to $158 billion in 2022, according to the new release of the International Data Corporation (IDC) Worldwide Semiannual Smart Cities Spending Guide. The Spending Guide provides a detailed look at the technology investments associated with a range of Smart Cities priorities, programs, and use cases.
The report says that intelligent transportation and public safety remain the largest investment areas, but IDC is also finding "significant pockets of spending and growth" in back-office and platform-related use cases behind the scenes.
The analyst added that the three largest use cases, which will attract nearly one quarter of global smart cities spending in 2018, are fixed visual surveillance, advanced public transit and smart outdoor lighting.
Officer wearables and vehicle-to-everything connectivity will generate the fastest growth, claimed the analyst, although they currently start from a small base in most regions.
On a geographic basis, the Asia/Pacific region, including China and Japan, will account for nearly 42% of global spending in 2018, followed by the Americas (33%), and Europe, Middle East and Africa (EMEA) (25%).
Picture: Courtesey of The Paper