Significant investment from the CTA (Consumer Technology Association) and financial company Deloitte - has helped highlight the opportunities presented by the emerging sector in smart cities technology and solutions at this year’s CES 2018. The Consumer Technology Association has estimated that spending in the smart city sector will reach $34.35 billion by 2020.
Microsoft co-founder and one of the world's richest men Bill Gates has entered the smart city space by announcing his role in the development of a sustainable, technologically advanced community in the Arizona desert.
The Canadian government has once again reiterated its commitment to the smart city movement by officially launching a new $50m 'Smart City Challenge'. The innovative project has been specifically designed to encourage communities nationwide in the country to leverage new technology.
A research firm has claimed that 'smart city' technologies could save governments, enterprises and citizens globally over $5 trillion annually by 2022. The claims were made by US firm ABI Research following their publication of a whitepaper which examined the impact of cities deploying 'smart' technology in major cities across the world.
The development of a new 'smart community' in Canada labelled one of the most ambitious projects ever undertaken in the country is underway. REZ Real Estate officially confirmed that the construction of District Union, a project worth $900m has begun and signaling the emergence of a 'new smart, organic community' in the home of the Maple Leaf.
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