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By 2050, an estimated 68% of the global population will reside in urban environments, placing immense strain on existing infrastructure and resource allocation. As people increasingly migrate from rural areas to cities for better economic opportunities and improved living standards, modern municipalities are faced with challenges.
The energy sector, driven by sustainability goals such as Saudi Arabias Vision 2030 and the UAEs Net Zero 2050, will see a surge in investments in smart grids, renewable energy, and AI-powered energy efficiency solutions. The Internet of Things will also play a transformative role in shaping the regions smart city and infrastructure projects.
In fact, more than 3,200 companies have set science-based carbon targets , and thousands of companies from around the world are pledging to reach net-zero emissions by either 2040 or 2050.
Many countries have committed to reaching net zero by 2050, aligning with the Paris Agreement’s goal to limit global warming to well below 2 degrees Celsius. trillion to the global economy by 2050. And they could drive economic gains: Research shows markets for carbon-neutral goods and services may be worth $10.3
First is building and buying talent to power National Grid’s IT transformation, which includes digitizing the grid and connecting it to a wide range of internet of thing (IoT) sensors and devices and to the host of emerging renewable energy sources such as solar, wind turbines, hydro innovations, and even battery technology.
Portugal : The country was one of the first in Europe to pledge carbon neutrality by 2050. By integrating smart grids and Internet of Things (IoT) devices, businesses can better manage their energy use. More than 85% of Iceland’s electricity comes from local renewable resources, including hydropower and geothermal power.
In the energy and utilities sector, sustainability goals, such as Saudi Arabias Vision 2030 and UAEs Net Zero 2050, will drive investment in smart grids, renewable energy, and AI-driven energy efficiency solutions. The Internet of Things is gaining traction worldwide.
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