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CTA predicts that smart cities spending will reach $34.35 billion by 2020

A number of high profile companies are pioneering groundbreaking technology and solutions at the event in Las Vegas. Major brands such as Bosch, Ford, Nissan and Ericsson are all showcasing their cutting-edge innovations.

However, there are just a few in a vast number of major brands who are aggressively pursuing new opportunities in smart transportation, smart grids, public safety, healthcare, AI and VR and much, much more.

It has been disclosed that more than 11,000 square feet of the show, which is one of the biggest on the technology calendar held annually in Las Vegas, will be solely dedicated to the ‘Smart Cities Marketplace’. It will feature smart city-enabling technology and solutions. Other exhibitors demonstrating the potential for smart cities technology include the European Commission, the Holland Startup Pavilion, and the cities of Berlin, Quebec and Las Vegas.

In addition to this, it has been announced that there will be a number of panel discussions with experts within the field throughout the week at CES 2018. The topics will range from ‘Energy Consumption and Distribution in Smart Cities’ to ‘Paving the Way for Connected Emergency Vehicles’ and ‘Consumer IoT [Internet of Things] Changing the Game for Emergency Responders.’

Senior Director for Market Research at CTA, Steve Koenig, said it was imperative that the show had a dedicated exhibition and conference program afforded to the emerging sector of Smart Cities because of the growth opportunities in the industry, adding that his organization estimates that spending on smart cities will reach $34.35 billion in the next two years.

He said, “Smart Cities at CES 2018 and our related conference programming are a natural extension of the show’s focus on innovation. CTA projects global spending on smart cities will reach $34.35 billion by 2020, so we think it’s important to have a dedicated conference program and exhibition focused on this global initiative. This remarkable growth will influence tech industry growth, change the way we think about cities and address global ills. We want to help our attendees gain a better and more comprehensive sense of this trend and help encourage the continued development of smart cities.”

Industry analysts are predicting that some of the hot topics related to smart cities that will be explored at CES 2018 include topics like equitable innovation and inclusivity, electric vehicle (EV) infrastructure expansion and cybersecurity.

However, the subject that is currently burning all the oxygen in the room when it comes to smart cities is 5G technology. While most consumers think this emerging telecommunications standard will simply mean faster smartphones – Qualcomm has already hit a speed of 1 gigabyte per second (Gbps) – the technology can have a transformative effect on smart city grids.