Though smart cities are considered by some to be one of the most-immediate IoT industry verticals, at least one survey suggests early spending is restrained.
A survey of 51 mostly mid-sized cities, conducted by IHS in 2018, found 24 of the 38 cities estimated their 2017 spending on smart cities projects to be less than $1 million. Of the 24 cities in this category, fourteen were mid-sized, ten were small cities.
Granted, spending is likely to increase as cities move beyond pilot projects. But constrained budgets show the importance of low-cost sensors, networks and software in this vertical.
Nine cities spent between $1 million and 10 million, including one large city and four cities in both small and mid sized cities.
Some four cities estimated spending between $10 million and $25 million; this group included two small cities, one mid-size and one large.
One mid-sized city estimated spending over $25 million. 
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