Security News > 2020 > February > Global spending on smart cities initiatives to total nearly $124 billion in 2020

Singapore will remain the top investor in smart cities initiatives.

These four cities will each see smart city spending of more than $1 billion in 2020.

On a regional basis, the United States, Western Europe, and China will account for more than 70% of global smart cities spending throughout the forecast.

Latin America and Japan will experience the fastest growth in smart cities spending in 2020.

"Regional and municipal governments are working hard to keep pace with technology advances and take advantage of new opportunities in the context of risk management, public expectations, and funding needs to scale initiatives," said Ruthbea Yesner, vice president of IDC Government Insights and Smart Cities and Communities.

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