Smart Cities and IoT
We are pleased to share with you our latest Insights report. The market for Smart City innovations is gearing up for explosive growth, especially in Europe, as urban migration puts a strain on outdated city infrastructure and public initiatives such as climate change take hold. Spending on smart technology has increased considerably, from 0.7% of city IT budgets in 2005 to 4.1% in 2015, and is expected to reach 7.5% by 2025. As a result, the Smart City market is forecast to grow from $40.1B in 2017 to $97.9B in 2026. Fueling this surge in spending is the prospect for a triple bottom line for urban planners and budgets including significant cost savings, new technology employers, and cleaner and more desirable living conditions for the public at large. This report takes a closer look into the market as well as companies in the ecosystem, M&A and private placement activity.