It is estimated that by year 2025, the global smart city market size will reach $820.7 billion, compared to $308 billion in 2018. Currently Singapore is ranked as the number one smart city in the world.
It is expected that by 2050, 60% of the world’s population will live in smart cities. That’s why 55% of Americans think investing in smart cities technology is a good use of taxpayer dollars. China also plans to build 500 smart cities.