Smart-city developments around the globe are anticipated to increase in the next several years—with a number of organizations predicting substantial growth. The pandemic in many cases is accelerating this need, as regulatory bodies are hyper focused on monitoring the health and safety of citizens. With the rise of the digital twin, cities have a tool to help make this a reality.
There is great potential for steady growth in the global smart-city market, with MarketsandMarkets predicting it will grow from $410.8 billion in 2020 to $820.7 billion by 2025, which is a growth rate of 14.8%. This includes adoption in transportation, utilities, buildings, and citizen services, thanks to the uptick in the IoT (Internet of Things), big data, analytics, cloud, security, and network connectivity.