Global spending on smart cities initiatives to total nearly $124 billion in 2020

Global spending on smart cities initiatives is forecast to total nearly $124 billion this year, an increase of 18.9% over 2019, according to IDC. The top 100 cities investing in smart initiatives in 2019 represented around 29% of global spending, and while growth will be sustained among the top spenders in the short term, the market is quite dispersed across midsize and small cities investing in relatively small projects.

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