The Global Market for Smart City Technologies is Projected to Reach US$1.34 Trillion by 2024
Need to Sustainably Accommodate the Growing Urban Population & Increased Application of Artificial Intelligence in Smart City Projects to Spur Growth of Smart City Technologies, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Smart Cities market. The global market for Smart City Technologies is projected to reach US$1.34 trillion by 2024 , driven by the growing world population, unscrupulous exploitation of natural resources, the ensuing search for sustainable ways to accommodate the 7+ billion people on the planet and continuous innovation in artificial intelligence and its growing role in catalyzing smart city development. World population will continue to grow from the current massive size of 7.3 billion to over 9.1 billion by 2040. The mind-bending spurt in population from 2.5 billion 1950 to over 7 billion is trig...