Smart Cities Technology Spending to Reach $135 Billion Globally by 2021, Says IDC

Worldwide spending on smart cities technology is forecast to reach $80 billion this year, expanding to $135 billion in 2021, International Data Corp. reported. Intelligent transportation, data-driven public safety and resilient energy and infrastructure are expected to generate most smart cities spending, said IDC Tuesday. Intelligent traffic and transit and fixed visual surveillance are forecast to lead spending globally, followed by smart outdoor lighting and environmental monitoring, it said. Intelligent traffic and transit will be top priorities of smart cities investment in the U.S., Japan and Western Europe, it said.