Over half of the global population now lives in cities, with urbanisation on the rise in every continent and figures set to climb close to 70% by 2050. The demand for buildings and cities to become more liveable, workable and sustainable due to the global push towards net-zero targets, combined with population and urbanisation growth, forecasts that the global smart cities market will be valued at $3.6 trillion by 2025.
Governments across the world in progressive locations from Singapore to Helsinki and Zurich, are also now developing ambitious smart city initiatives to hit their own mid-century targets, as called for by The Paris Agreement. Designated city zones known as Smart Quarters are being developed, and entire smart cities that are truly sustainable are being envisioned, with intelligent buildings, cleaner transportation and infrastructures that serve essential human needs such as security, comfort and connectivity.
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.