By 2028, smart traffic management spending will jump by 75% from US$10.6 billion in 2023, driven by increasing government funding for smart cities’ initiatives with transportation being at the centre of urban transformation projects, according to market research firm Juniper Research.
Service revenues from low-power IoT technologies will exceed US$2.6 billion by 2024, rising from only US$290 million in 2019, a growth of 800% over the next 5 years, according to a new report.
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