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Considerable growth in the global smart city ICT infrastructure market by 2026, a recent market research released by AMA Research forecasts.
A smart city is a city that undergoes development projects to integrate information and communication technology (ICT) and the internet of things (IoT) in a secure system to manage the assets of a city. These assets include schools, hospitals, power plants, libraries, waste management, law enforcement, water supply networks, and transportation systems.
A smart city uses urban informatics and technology to improve the efficiency of services. ICT lets the people interact directly with the community & city infrastructure and also monitors the surroundings of the city and its evolution.
The market includes a wide variety of smart segments, e.g. smart grid, home and building, water network, healthcare, transportation, education, security, etc.
A major market trend mentioned by the report is the increasing adoption of IoT technology for infrastructure management and city monitoring.
Among the market drivers are the rapid urbanization leading to the growth of megacities around the world, and the exponentially rising urban population actuating smart management.
Key Players mentioned in the report include Microsoft Corporation (United States),HP (United States),ABB (Switzerland), AT&T Inc. (United States), Cisco Systems, Inc. (United States), Hitachi, and more, according to digitaljournal.com.
Interested in learning more about innovative technologies for smart cities? Attend INNOTECH 2021 Cyber, HLS, and Innovation Event at Expo Tel Aviv, Nov. 17-18.