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Smart Cities Need to Spend More on Security Tech, Study Suggests

By Bloomberg

August 29, 2019

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A study by ABI Research predicts 44% of the $135 billion projected to be spent in 2024 to secure critical city infrastructure against hackers will be invested in data safeguards for the energy, healthcare, public security, transport, and water and waste industries.

ABI's Dimitrios Pavlakis says the approximately $59.4-billion outlay would be insufficient, and warns soft digital security investments could "jeopardize the key elements of intelligence, efficiency, and sustainability of future smart city deployments."

The market research firm says urban areas with interconnected surveillance, healthcare, and utilities networks do not have enough security to resist data breaches and cyberattacks.

ABI also forecasts that the total number of wide-area network links for smart city devices like street lamps, surveillance cameras, and air quality sensors will balloon from about 696 million now to about 1.3 billion by 2024; about half will be implemented on networks that can handle cyber threats.

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