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MEA smart cities market investments set to double to USD 2.7 billion by 2022

KPMG makes the prediction during the 6th Annual Arab Future Cities Summit

| | Sep 24, 2019 | 4:45 pm
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Rémi Pouchucq

DUBAI, United Arab Emirates, 24 September 2019: The market investments into smart cities in the Middle East and Africa are set to double from USD 1.3 billion in 2018 to USD 2.7 billion by the year 2022, according to a KPMG report. Schneider Electric, in a Press release, quoted the report, in the context of discussions during the 6th Annual Arab Future Cities Summit, on September 16 and 17 in Dubai.

According to the release, the 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, the Summit concluded. According to the KPMG report, 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.

According to the release, 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, the Summit was a platform to discuss and showcase new technologies, opportunities and trends. Rémi Pouchucq, Business Development Manager, Middle East & Africa, Edge Computing, Small & Medium Data Center, Schneider Electric, speaking on the sidelines of the event, 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 urbanization 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. 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.”

As part of a presentation he made 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 digitisation and how it is impacting people’s lives, ultimately paving the way towards smart cities, the release said. Pouchucq also shared insights about new technologies, followed by a dive into the growing number of applications available in the market today, the release said. The session, the release added, 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.

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