IDC experts expect $ 124 billion to be spent on smart cities this year

Singapore Leader in 2020
According to analysts, this year global spending on initiatives in this area reached $ 124 billion. This is 18.9% more than in 2019.

According to IDC, 29% of the above amount will come from 100 cities, which allocate more than others to relevant projects. At the same time, analysts note that only 80 cities will allocate more than $ 100 million each, while 70% of the total amount will be allocated to cities that spend $ 1 million or less per year.

Speaking of individual cities, Singapore will be the leader in smart city initiatives in 2020. Tokyo will be in second place, in many respects – in connection with the Olympics. Analysts placed New York in third place, and London in fourth. The breakdown by region is shown in the diagram.

Most of the funds (more than a third) will be allocated to energy and infrastructure projects. In second place is public safety with 18%, in third place is smart transport, which will account for 14% of all expenses.