The global internet of everything (IoE) market is estimated to register a CAGR of 15.2% during the forecast period of 2020-2030, according to a new market intelligence report.
Governments of most developed and developing countries are focusing on smart city projects to implement new technologies, which ensures optimal utilization of the available resources. The primary aim of these smart cities is to provide superior connectivity that ensure a healthy lifestyle by keeping pollution levels in check through sensors and alerts.
In 2019, spending on smart city initiative reached approximately $95 billion, which indirectly hints have investments in Internet of Everything (IoE). As governments are investing and focusing on smart cities the adoption of technologies like Blockchain, smart sensors, Internet of Things (IoT), wireless communication, and 5G has increased. Deployment of these advanced technologies is expected to ensure improvements in terms of city orientation and solutions to many problems such as safety, energy utilization, traffic, pollution, and recreation.