These improvements translate into saved lives, reduced crime incidents, shorter commutes, improved health outcomes, and lower carbon emissions. The report highlights that smart technologies can lead to significant improvements in key quality-of-life indicators, ranging from 10 to 30 percent. According to a report by McKinsey Global Institution published in 2018, digital applications have the potential to address practical and human concerns in cities. Various studies have highlighted that by integrating advanced technologies and data-driven solutions, smart cities can tackle urban challenges in a more efficient and effective manner. Bloomberg reported Grand View Research’s data and highlighted that the global smart cities market was valued at roughly $1.1 trillion in 2021 and is projected to grow significantly to $6.9 trillion by 2030, with a compound annual growth rate (CAGR) of 24.2% between 20. By integrating smart technologies into urban areas, the quality of life for residents can be enhanced, and public safety can be improved.Īlthough the concept of smart cities is still in its early stages, it is rapidly gaining momentum worldwide. This is where smart city programs and initiatives play a crucial role. To address these challenges, smarter urban solutions are necessary. As a result, emissions and energy consumption will continue to increase. One such phenomenon is the concept of ‘smart cities’, which revolves around the integration of advanced technologies and data-driven solutions to improve the overall quality of life for residents and enhance the efficiency of urban services and infrastructure.Īccording to the United Nations, around 70% of the world's population will reside in urban areas by 2050 (see 20 Largest Economies by 2050). Each day, we step into a new world filled with groundbreaking discoveries that captivate the entire globe. The transformation the world has undergone in the last two decades highlights the increasing significance of technology in shaping our future. The technological advancements in today's world leave almost everyone amazed. You can skip our detailed analysis of smart cities technology and its future, and go directly to read Top 5 Smart Cities in the World. In this article, we discuss top 20 smart cities in the world.
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