Many municipalities around the world are exploring the Smart City concept as a way to make themselves better places to live, work, and grow. ABI Research reports that the market for technologies that feed into and support Smart City programs and projects will grow on a global basis from $8 billion in 2010 to exceed $39 billion in 2016, accounting for $116 billion in cumulative spending during that period. In order to demonstrate some of the ways in which this money is likely to be invested, Cisco created an interactive infographic showcasing its smart, connected City of the Future.
How will all that money be spent? ABI Research tells us that “these cities may be installing municipal wireless networks, implementing e-government initiatives by providing access to city departments and initiatives through websites, integrating public transportation with intelligent transportation systems, or developing ways to cut their carbon footprints and reduce the amount of recyclables consigned to the trash heap”. It adds that Smart City projects frequently share some of the following characteristics:
- A networked infrastructure;
- Information and communication technologies (ICT) to increase prosperity and competitiveness – for citizens and local businesses alike;
- Collective community intelligence based on effective planning for urban and regional development, and innovation management; and
- A focus on social and environmental sustainability through the participation of citizens in city processes, with the aim of balancing growth initiatives with the protection of valuable natural resources.
ABI Research’s new study, “Smart Cities: Municipal Networking, Communications, Traffic/Transportation, and Energy,” examines more than 50 actual Smart City projects around the world, providing data on the technologies that can make a municipality more efficient and more responsive to its citizens.
Source: ABI Research
Comments