Smart city technology market expected to be worth more than US$27.5 billion annually by 2023, says Navigant

The smart city concept is a framing device for many of society's most important conversations about globalization, technology, and the environment, which is driving investment across a range of city services and infrastructure. As the supplier ecosystem for smart cities continues to expand, established suppliers are moving into the market from the energy, transport, buildings, and government sectors, while startups are addressing a range of emerging opportunities. According to a recent report from Navigant Research, the global smart city technology market is expected to grow from US$8.8 billion annually in 2014 to more than US$27.5 billion by 2023.



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