Spending on smart city/country technology is expected to reach US$327 billion by 2025, up from US$96 billion in 2019, according to a new forecast from Frost & Sullivan. Overall, smart cities are forecast to generate business opportunities worth US$2.46 trillion by 2025 and Frost & Sullivan expects at least 26 smart cities to be established by then.
As Governments across the world begin to focus on data-driven and connected infrastructures, looking to bridge the gap between brownfield and greenfield projects, investment in smart projects like smart grids, intelligent traffic management, revenue control, oil & gas, smart lighting, e-governance services and data-enabled public safety and security will gain traction. TwinWorX’s ability to aggregate, store and analyze real-time and historical data from multiple disparate siloed sources allow decision-makers to have actionable insights resulting in increased operational efficiency. Additionally, our intuitive and robust dashboards allow for ease of monitoring, controlling, optimizing, and visualizing of assets in the field. Armed with this real-time data visibility and analytics, country managers can rapidly respond to human or natural disasters requiring immediate investigation, such as a sudden flood or a major traffic accident; having this ability will ensure a greater quality of life for all citizens.