09 Sep '11, 6pm

Investment in Smart Cities on the Verge of a $40B Boom

Investment in Smart Cities on the Verge of a $40B Boom

As technology has transformed business, so too is it reshaping the built environment and increasingly connecting the people and things in it. That vision of a completely connected world is catching on, according to a new report from ABI Research . Smart cities technology is an $8.1 billion market today and in five years, expect that market to grow to almost five times that size, reaching $39.5 billion, the report says. The growth of smart technologies is something that GreenBiz is tracking closely, calling the convergence of smart buildings, vehicles, IT and the grid VERGE . "Smart city concepts are really taking off globally," said ABI Senior Analyst Josh Flood in a statement announcing the report's release today. "Currently, the largest spending on smart city technologies is for smart grids; however, over the next five years we will see a significant increase on spending...

Full article: http://www.greenbiz.com/news/2011/09/09/investment-smart-...

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