The Smart City Market is expected to witness significant expansion, with a forecasted growth of USD 345.8 billion at a CAGR of 24.81% from 2023 to 2028. This growth is fueled by advancements in technologies such as IoT, AI, and big data. Key trends driving this market forward include the integration of smart grids, intelligent transportation systems, and the creation of energy-efficient infrastructures. Notably, rising investments in 5G technology are further accelerating the pace of growth. Partnerships between governmental bodies and private enterprises focus on enhancing public safety, reducing carbon emissions, and improving quality of urban life. The emergence of autonomous vehicles and smart building innovations is also reshaping the future landscape of smart cities.

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