Smart Cities Infrastructure Spending to Reach $375B by 2030: ABI
With the “status quo” of polluted and gridlocked cities beginning to change, investments in urban infrastructure aimed at implementing "new visions" for smart cities will reach $375 billion globally by 2030 as municipalities invest increasingly “in brownfield and greenfield projects,”…
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reported ABI Research Thursday. Though there seems “little doubt” that global urbanization will continue unabated, “it is equally clear that current concepts of urban living and infrastructure are neither sustainable nor scalable from an environmental impact, resilience, cost, and humanized living perspective,” said ABI. “The very concept of cities will change profoundly and structurally.” The “digitalization of lifestyles,” induced and accelerated by COVID-19, is among the “numerous” drivers behind “urban innovation,” it said.