Concerns about global warming and ozone depletion have prompted increased government attempts to reduce the country’s carbon footprint. Increasing energy usage results in higher energy dissipation and carbon emissions, highlighting the need for more sustainable and efficient energy consumption. Market revenue growth is attributed to rising demand for public security, as well as favorable government initiatives in various countries to develop advanced video surveillance, real-time vehicle number plate, and facial recognition solutions used for public safety in smart cities, emphasizing the importance of monitoring to ensure people's safety. 14, 2023 (GLOBE NEWSWIRE) - The global smart cities market size reached USD 457.18 billion in 2021 and is expected to register a revenue CAGR of 13.9% during the forecast period, according to latest analysis by Emergen Research.
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