A new study conducted by technology research firm Technavio, forecasts the global smart ICT infrastructure market to grow by 17% between 2017 and 2021.
According to findings of the research, factors including high demand for improved lifestyles and urbanisation is driving the need for smart cities. Moreover, rapid increases in rural to urban migration is resulting in shortages of resources including water and energy hence a rise in the need to employ smart city ICT infrastructure to improve management of such resources.
Technavio says smart city infrastructure is mainly being deployed in the smart grid, smart home and building, smart water network, smart healthcare, smart education, smart security, and smart transport sectors.
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