Smart City stats you should take into account in 2021

In 2021, smart cities around the world are using key learnings from stats and data into consideration ahead of planning for further urban development. Leveraging data and making use of smart technology is helping to improve efficiency and sustainability, foster economic development and enhance the overall quality of life for residents - as well as the experience of visitors.

What all these cities have in common, first of all, is the fact they all rely on the Internet of Things (IoT) to collect, analyze, distribute info and data to different city resources and assets. From the collected info, data and stats up to his point, on smart cities, the four areas analyzed were: the state of the smart city market in 2021, urbanization trends, smart city statistics and smart city examples.

I’ll share a few from Pareteum below, two for each area, to help get a better idea on the type of things in focus:

The State of the Smart City Market in 2021:

1. The size of the global Smart Cities market will grow from approximately 410.8 billion U.S. dollars in 2020 to 820.7 billion U.S. dollars in 2025, with a 14.8% CAGR. (Globe News Wire)

2. Currently, roughly 26% of global spending on Smart City technology initiatives is in the United States. (Statista)

Urbanization Trends:

1. As of 2008, around 50% of the world’s population lived in cities. By 2040, this number is expected to rise to 65%. (Postcapes)

2. Cities consume between 60% and 80% of the world’s energy. (Postcapes)

Smart City Statistics:

1. There are four key Smart City investment areas: enabling technologies, building and construction, energy, and water and waste management. (Barclays)

2. In the European Union, the digitization of services has reduced operating costs for 85% of cities. (OECD)

Smart City Examples:

1. Singapore’s smart traffic management solutions

2. New York City’s connected vehicle infrastructure

All these key statistics, amongst many others available, tell us that the evolution of smart cities is based on a process that combines data with decisive action steps. Developing in the direction of this type of community has not only improved cities, with the increased quality of life that it brings for residents, but also translated into greater efficiency and general results for city officials in charge. 

Data is now at the core of smart city strategies, with key learnings now resulting in improved urban planning. And it’s also clear that the two main pillars of this developmental foundation are quality of life and efficient solutions for more modern city structures - as it should be.