Intelligent CIO Middle East Issue 01 | Page 35

FEATURE: SMART CITIES The global smart city technology market is forecast to be worth more than $27.5 billion annually by 2023, according to Navigant Research’s Smart Cities report. Cumulative global investment in smart city technologies over the decade is expected to be $174.4 billion Coinciding with Smart Cities Week in Washington DC in September, the Obama administration announced an investment of over $160 million for a new Smart Cities Initiative www.intelligentcio.com INTELLIGENTCIO 35