Smart Cities for Connected Intelligence
ZHUHAI, CHINA / ACCESSWIRE / April 14, 2021 / Powerbridge Technologie Co., Ltd. (Nasdaq:PBTS) ('Powerbridge' or the 'Company'), a global trade software applications and technology services provider, is pleased to announce the initiation of a new Smart Connected City application with the launch of new products and solutions enabling connected intelligent devices, with Smart Lamp Pole and Smart City Operation Platform.
Powerbridge Smart City Operation Platform integrates 5G, Internet of Things ('IoT'), Smart Lamp Pole, Big Data Platform, and artificial intelligence to promote the interconnection and efficiency of a city's operations, so as to create a better and interconnected lifestyle for residents and cities. Powerbridge Smart Connected City assists city management in daily decision making by analyzing and processing the collected data into valuable information to the city council.
Visual of Powerbridge's Smart City Operation platform.
According to a research conducted by Markets and Markets, the China smart cities market is projected to reach USD 59.9 billion by 2023 from USD 30.4 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 14.5%. The growth of this market in China is driven by the increase of population, the need for rapid urbanization, and government investments and policies to speed up the successful implementation and development of smart cities projects.
Stewart Lor, President and Chief Financial Officer of Powerbridge, commented, 'Powerbridge is well-positioned to initiate its development of Smart City Operation Platform. We might be the first Nasdaq-listed company in China to enter into this arena with a ready-to-roll solution. I believe we are able to leverage our experiences and resources with municipal clients to attract the interests from Chinese provincial and city council to help digitalizing a better tomorrow for cities in China.'
Powerbridge Technologies Co., Ltd. (Nasdaq:PBTS) is a provider of software applications and technology solutions and services to corporate and government customers primarily located in China. Founded in 1997, Powerbridge pioneered global trade software applications with a vision to make global trade operations easier for customers. Since inception, Powerbridge has continued to innovate and deliver solutions and services to address the changing needs of thousands of customers. Powerbridge's mission is to make global trade easier by empowering all players in the ecosystem. For more information, visit www.powerbridge.com/en
FORWARD LOOKING STATEMENT
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Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2019. Powerbridge SEC filings are available publicly on the SEC's website at www.sec.gov. Powerbridge disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
Powerbridge Technologies Co., Ltd.
President and Chief Financial Officer
SOURCE: Powerbridge Technologies Co., Ltd.
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