Smart city spending to double by 2022 in the Middle East and Africa
The amount spent by smart cities on technology is set to double in the coming four years within the Middle East and Africa (MEA) region.
The total spending is anticipated to increase from $1.3bn to $2.7bn during the review period, according to a recent report released by KPMG.
The report is titled ‘The Rise of Smart Cities – Digital Transformation in the Public Sector’.
According to Construction Week Online, smart city success is often based on these factors of digital transformation: individual strategy, a holistic approach, and technology partners.
However, the largest challenges include cyber risks, as well as technology, funding, and skills gaps.
Smart city spending across the world is expected to expand from $81bn in 2018 to $158bn by 2022, Abdallah revealed using statistics from the International Data Corporation.