Smart Cities Market Detailed Survey On Key Trends, Growth And Forecast 2027

The global smart cities market was estimated at $400 billion in 2020, and it is predicted to grow at a CAGR of 14.8 percent to $1077.4 billion by 2027, with a CAGR of 14.8 percent. Because of the rising awareness of "smart everything," which is partly due to all intermediary technologies, the smart cities concept has gained traction. Smart cities collect and analyze data from a variety of sources using developing technologies such as artificial intelligence (AI), the internet of things (IoT), cloud storage, big data, and data analytics. According to Eric Woods, Navigant's research director, smart cities are gradually instrumenting the urban fabric at every layer, resulting in cross-sector advantages.