Smart cities in Latin America – statistics & facts
Smart cities are generally defined as locations where digital and telecommunication technologies are manipulated to make the use of resources more efficient. Digital transformation has had a significant expansion – especially over the past few years - and already impacts and facilitates a myriad of aspects of daily life: from communication to mobility, from shopping to one’s own home. In fact, technology spending on smart city initiatives worldwide was forecast to more than double between 2018 and 2023, amounting to approximately 190 billion U.S. dollars in the latter year. While Latin America’s participation in the sector’s spending was estimated at less than ten percent in 2020, in recent years projects have been gaining space in the region.
