The accelerated development of new technologies including 5G, AI, cloud, and edge computing is helping to drive the evolution of Smart Cities. We are in the early stages of an edge computing revolution and it is critical to support the exponential increase in the number of connected devices, and vast growth in data collected. Approximately $20 billion of opportunities across hardware, software, and services could be deployed at the edge by 2023,2 with a significant upside to those numbers in the long term.
Investment in reliable technology and high-speed connectivity is central to Smart City buildout. The expedited shift to work from home in 2020 is driving the need for reliable and secure high-speed connectivity. As vital infrastructures become connected, cities must be aware of vulnerabilities to adversaries. Telecom and technology companies must increasingly collaborate with governments and invest in reliable networks, cybersecurity and backup systems.