The world’s largest cities need to invest billions of additional dollars into their infrastructure in order to secure citizen data, new research suggests.
Of the roughly $135 billion expected to be spent globally on cybersecurity for critical city infrastructure in 2024, 44% will be split across data protection provisions for energy, health care, public security, transport, water and waste industries, analyst group ABI Research concluded in a study published Tuesday.
That equates to about $59.4 billion and will not be enough, Dimitrios Pavlakis, an analyst at ABI Research, said.
In a statement accompanying the study, he said lackluster digital security investments could “jeopardize the key elements of intelligence, efficiency and sustainability of future smart city deployments.”
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