SMART CITIES
The sky ' s the limit for smart city startup revenue projections as more attention focuses on natural solutions , smart networks and digitally enabled grids
WRITTEN BY : DOMINIC ELLIS
Smart city startup revenue projections could be anything up to US $ 110bn in the next four years , as demand for solutions covering everything from energy management to cybersecurity continues to grow dramatically .
As impressive as these figures are , they must be placed into the context of the overall smart cities market – which was valued at US $ 739.78bn in 2020 and is expected to reach US $ 2036.10bn by 2026 , according to Mordor Intelligence .
The global potential is only just being realised , as the need for efficiency rises with the sustainability challenges associated with reaching net-zero emission targets . The global breakdown is as follows :
• Asian smart city startups are expected to generate $ 14.9bn or 38 % of total revenues in 2021 . By 2025 , this figure is forecast to soar by 232 % to $ 49.6bn
• European smart city startups are expected to witness a 166 % revenue growth in this period , rising from $ 8.7bn in 2021 to $ 23.16bn in 2025
• North American startups follow with $ 12.3bn in revenue in 2021 . Statista data show this value is set to grow by 152 % and reach $ 31.2bn in the next four years
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