The global market for a smart city is projected to grow from USD 900 billion in 2016 to USD 2 trillion in 2025 growing at a CAGR of 9.8%.
- Definition / Scope
- Market Overview
- Market Risks
- Top Market Opportunities
- Market Trends
- Industry Challenges
- Technology Trends
- Pricing Trends
- Regulatory Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Distribution Chain Analysis
- Competitive Landcape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
The smart city is the one that is holistically connected among healthcare, infrastructure, mobility, building, and energy among a few building blocks equipped with technology that makes life efficient and simpler. Smart healthcare includes but not limits to e-health, connected medical devices.
Likewise, Smart governance makes the function simpler with e-governance, e-education, and centralized management system. Homes are equipped with smart meters, sensor networks, etc.
Similarly, smart mobility systems use data collected from a variety of mobility sources about their patterns in order to help optimize traffic conditions in a holistic manner.
Smart mobility systems include mass transit systems as well as individual mobility systems that feature bicycle sharing, ride sharing, vehicle sharing and, more recently, on-demand transportation.
IBM defines a smart city as “one that makes optimal use of all the interconnected information available today to better understand and control its operations and optimize the use of limited resources.
Smart cities have a very specific definition and have very well defined components. These components include infrastructure, energy, buildings, mobility, citizen, healthcare, technology, and governance.
Then there are other components such as waste management, education, etc that holistically come in place. However, a city is deemed smart if it complies with any 5 of the 8 components specified.
- Smart Governance means IT-enabled administration and governance where there is a use of integrated technology platforms that are easily accessible across various devices to access information achieving transparency and speed, participation and redress public services.
- Smart Energy focuses on alternate sources of energy, smart energy management and billing practices, improvement in energy production and distribution efficiency, and use of energy-saving technologies.
- Smart Mobility improves coordination in public transportation, reduce traffic congestion through the intelligent traffic management system, real-time monitoring of traffic jams through GPRS and satellite technology.
- Smart Building uses technology through modern building management systems, use of energy-saving appliances and led lights, adoption of modern water-saving techniques like low flush toilets, recycling and proper utilization of greywater, etc.
- Smart Infrastructure adopts modern and fast construction practices like usage of AAC blocks, hollow concrete blocks or fly-ash bricks instead of traditional clay bricks, modern facade systems using smart glass, BIPV, and smart manholes.
- Smart Technology monitors the leakages in the water distribution system of the city through SCADA, high-speed public transportation, etc.
- Smart healthcare focuses on using mobile and electronic technology for better diagnosis of the disease, improved treatment of the patients, and enhanced quality of lives.
Smart Citizen is educated and technology aware citizens who actively participate in the policy-making through modern technology.