By 2050, 75% of the world’s population will live in urban areas that are increasingly connected and powered by smart technologies. The Asia Pacific (APAC) region alone accounts for the largest share of spending in the Internet of Things (IoT) – the emerging technology that will take us closer to the smart cities of the future – and this is expected to grow to $59 billion by 2020.
Smart city applications will continue to enrich the lives of residents and make governments more efficient in responding to citizens’ needs. From security and convenience to revenue generation, smart city applications will change the way cities operate and the way we live and work.
