Smart cities are impacting everything from energy consumption to enhancing mobility. According to a report by the International Data Corporation (IDC), global smart city spending reached US$124 billion in 2020.
This represents a substantial increase of almost 20% from the previous year, indicating that more and more cities are investing in smart infrastructure. IDC projects that investments in smart cities will continue to grow and reach a staggering US$203 billion by 2024.The use of IoT technology in smart cities has resulted in a host of benefits.
