Smart City Market to be $995 Billion by 2023

The market for Smart City information is likely to explode, reaching a value of UD$994.6 billion mark by 2023, according to a report released in at the ongoing Future Cities Show.

The show, which is being held in Dubai, has the theme 'Propelling Globalization through Digital Transformation’.

5G has been a key topic, as has virtual reality and augmented reality.

Such technologies look to unite the logistics chain, cities and the globe.

A key attendee of the show has been Omniflow, a company specialising in solar energy, a statement from whom read: "This is our first time here in the ME, although we are present in over 22 countries such as US, China and Europe.

"The Middle East market, especially the UAE, is very tuned in to new technology, is receptive and willing to experiment, and becoming very, very ‘smart’.

“We hope to find a good partner. We’ve already had an enthusiastic response and are confident that this show will serve as a strategic platform to close a deal."

Read more: Smart Dubai Announces Dubai Data