Smart Cities are set to gain further traction post the pandemic, with providers focusing on developing data-driven infrastructure to provide appropriate healthcare facilities and public security services.
Earlier this year, International Data Corporation (IDC) released a forecast predicting that the global spending on smart city initiatives will reach a staggering $124 billion, by the end of 2020. This is an increase of about 18.9% compared to the 2019 spend for the same.
This comes as no surprise considering smart cities are set to gain further traction post the pandemic, with providers focusing on developing data-driven infrastructure to provide appropriate healthcare facilities and public security services. Investments in the space too, are expected to rise significantly over the next few years.
GS Technologies Ltd (LON:GST), through its subsidiary, EMS Wiring Systems Pte. Ltd, provides services in the “Smart Building” sector. Smart Building is a diverse term that refers to the technological capabilities of buildings and other work place facilities.