Tuesday 22 September 2020

MEA smart cities market spend to hit $2.7bn by 2022

DUBAI, September 18, 2019

The smart cities sector in the Middle East and Africa (MEA) region is poised for solid growth over the next few years with the market set to double from $1.3 billion last year to $2.7 billion by 2022, according to a report by KPMG released at the recent sixth Annual Arab Future Cities Summit.

The two-day event, held under the patronage of the Ministry of Infrastructure Development, concluded yesterday in Dubai.

The Arab Future Cities Summit highlighted the region’s rapid development to become a global leader in smart cities, with Dubai being at the forefront of this transformation. With this growth, the role of digital technologies and smart solutions is ever increasing, said the experts.

Building cities integrated with next-generation technologies such as the Internet of Things (IoTs) and artificial intelligence (AI) begins with making investments that leverage on advanced IT infrastructure, they added.

The sixth edition of the conference discussed the rapid development this region had seen in order to evolve into one of the leading smart cities in the world.

With top industry leaders and market players coming together to support the drive towards smart cities, and in line with Dubai's vision 2021 to transform the emirate into a smart city, this event was a platform to discuss and showcase new technologies, opportunities and trends, said a statement from Schneider Electric.

A leader in digital transformation of energy management and automation, Schneider Electric offers solutions including edge computing, remote management and power efficiency.

On the sidelines of the event, Rémi Pouchucq, the business development manager for Middle East & Africa, Edge Computing, Small & Medium Data Center, said: "Large investments are going into technologies that enable smart cities, and the UAE has set itself as a benchmark for smart city innovation in the region."

"With urbanisation moving at its current pace, developing solutions that tackle issues in terms of energy, safety, mobility, sustainability and overall wellbeing remain at paramount importance to us at Schneider Electric," he stated.

"Thanks to the numerous government-lead initiatives, businesses and individuals are becoming increasingly aware of new gateways that technology opens for them, helping them identify and respond to the critical need to be planet- and profitability-compatible. We look forward to being part of this move towards building the smart cities of tomorrow," observed Pouchucq.

As part of his presentation on the topic of Edge Computing titled “The Rise of Edge Computing: Applications and Benefits”, Pouchucq shared insights on new trends in the world of digitization and how it is impacting people’s lives, ultimately paving the way towards smart cities.

The senior Schneider Electric official also shared insights about new technologies, followed by a dive into the growing number of applications available in the market today.

The session ended with an exchange of best practices and requirements in innovation and the role that technology plays as a catalyst, accelerating the drive towards a smarter, digital world.-TradeArabia News Service


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