Green Urban Infrastructure Spend to Reach US$978 Billion in 2030 as Cities Attempt to Mitigate Climate Change Impacts

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Dec 13, 2022, 04:45 ET

OYSTER BAY, N.Y., Dec. 13, 2022 /PRNewswire/ -- According to global technology intelligence firm ABI Research, global public and private investment levels in green urban infrastructure are expected to increase from US$606 billion in 2022 to US$978 billion in 2030 across a wide range of green assets, including city parks, urban forests, blue spaces such as ponds and lakes, rooftop gardens, green walls and buildings, and pedestrianized green streets as part of new urban concepts.

Example projects include the green makeover of the Champs Élysées in Paris for the 2024 Olympics (€250 million), the redevelopment of the former Athens International Airport into the Metropolitan Park and Coastal Front (€8 billion), and the NEOM Regreening and Saudi Green Initiatives (US$187 billion). Other examples include Madrid's Nuevo Norte Urban Forest, Melbourne's Green Infrastructure Plan, Bangkok's Benchakitti Forest Park (covering an area of 0,7 km²), and Boston's Green New Deal.

"The single most important benefit of green urban infrastructure is its role in making cities more resilient. Resilient against the impact of climate change in terms of mitigating the effects of flooding, heat islands, drought, and other natural disasters on urban living," says Dominique Bonte, VP End Markets and Verticals at ABI Research. "Green infrastructure offers the combined advantage of functioning as natural reservoirs for excess stormwater and excessive heat due to its innate water absorption and heat storage capabilities. Both substantially reduce flooding of vulnerable inhabited areas and the number and severity of heat islands."

However, green urban infrastructure offers many additional benefits:

A key tool for urban decarbonization, contribution to net zero cities, and achieving urban circularity
Improved air quality and reduced noise pollution
Increased urban biodiversity – "bringing nature back to cities"
Improved urban living quality, health, and mental wellbeing
Positive impact on economic development

From a technology perspective, digital twins are the ultimate tool for city governments and developers to design, model, plan, simulate, and manage green urban infrastructure. Detailed information about trees and other green assets can be captured through ground-based and airborne LiDAR sensor scanning systems often complemented by satellite imagery. Artificial Intelligence (AI)-based recognition capabilities allow building complex models featuring various metrics, including predictive data about expected tree lifetimes.

Digital twin modeling and simulation use cases include the identification of current and future heat islands, the assessment of vulnerable populations, the percentage of permeable surface and vegetation levels, the water retention potential of green rooftops, detailed tree analytics, and water run-off and carbon storage metrics.

Urban digital twin solutions are offered by vendors like Siradel (Engie) and Dassault Systèmes. Singapore-based Greehill develops digital twin technology exclusively optimized for green infrastructure.

These findings are from ABI Research's Green Urban Infrastructure report. This report is part of the company's Smart Urban Infrastructure research service, which includes research, data, and analyst insights.

ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.

ABI Research是一家国际科技情报公司，为全球科技领袖、创新人士和决策者提供实用的市场研究和战略性指导。我们密切关注一切为各行各业、全球经济和劳动市场带来颠覆性变革的创新与技术。

For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit ww.abiresearch.com.

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SOURCE ABI Research