In our current global evolution and expansion of digital technology and infrastructure, smart cities have become more and more prevalent in modern automation and digitalization.
A smart city is defined as a geographical area that utilizes digital technology such as electronic sensors and data collection methods to improve overall city operations. This includes the collection of data to manage assets and resources, providing certain services, and solving general city problems.
The recent demand and concern regarding health, government urbanization, and economic growth have further emphasized the need for smart cities. As remote work from home organizations and contactless payment terminals, the need for secured connections became essential.
The global smart cities market valuation is expected to reach USD 820.7 billion by 2025, with a compound annual growth rate of 14.8%. Although there are hundreds of smart cities worldwide, the majority of cities are not considered to be smart.
Smart cities are an extremely important aspect of ensuring substantial public connectivity, optimum usage of financial resources, fair distribution of benefits, and adapting to growing public demands.