Smart City Market Innovation reaches $546 billion in the UAE
Industry experts announced today, ahead of GITEX Technology Week 2020, that the UAE is leading innovation in the global smart city market, which will reach $546 billion by 2027.
The Smart City Market Growth in the UAE
Meticulous Research predicts that the global smart city market will grow by 23 percent at a compound annual growth rate to $546 billion by 2027 as Abu Dhabi and Dubai are ranked in the top 50 smart cities in the whole world, thanks to government digital transformation, smart Dubai initiatives, and Expo 2020 Dubai. One of the best-connected events in the world.
The leading United Arab Emirates company for IT infrastructure consultancy, information management, and solution provider, Condo Protego company works closely with public and private sector organizations in digital transformation to support smart cities.
“The rise of the UAE in the global rankings for smart cities is testament to the government-led the digital transformation of the country,” said Savitha Bhaskar, Operations Director at Condo Protego.
Operations Director at Condo Protego, Savitha Bhaskar added, As the economy and society continue to strengthen, GITEX is paving the way for five gigantic smart city trends for 2021: Artificial Intelligence, Cloud, 5G, Digital Economy, and Cybersecurity. Channel partners with knowledge and experience can help smart cities meet business goals with the right solutions and key performance indicators.
Smart City Market uses Artificial Intelligence
Artificial intelligence is being used for facial recognition at airports, predicting utility surges, and preventing disease outbreaks. Organizations can use intelligence with machine learning algorithms and real-time analytics to improve their insights. In digital transformation, hybrid cloud environments, data analytics, and data warehousing can combine to deliver the greatest benefit to the business.
With lower data storage costs and increased performance, organizations can adopt an affordable, resilient, and scalable high-performance storage infrastructure. Data storage as well as virtualization can enable remote and hybrid work and learning.
5G can enable autonomous vehicles that safely reduce traffic, smart factories, and mega-events, and 5G ultra-fast mobile broadband networks are the foundation for the Internet of Things, Internet 4.0, and the Fourth Industrial Revolution.
BFSI Companies enable remote work
Banking, financial services, and insurance Companies (BFSI) enable remote work, secure digital customer services, reduce risk, and meet compliance. Schools and universities support e-learning through virtual lessons, online collaboration, and customized courses. Retailers and restaurants are reorienting delivery methods and supporting targeted marketing.
While the UAE has moved quickly towards a smart and connected society, the increase in connectivity also comes at a heavy price as increased cyber threats.
Advanced threat intelligence can help secure the cloud, endpoints, and networks from cyber threats: from traditional Business Email Compromise (BEC) attacks and URL threats to malware and ransomware, all of which can risk business continuity and customer confidence.