Bit of data on all smart cities. Frost and Sullivan is projecting a significant increase in spending for smart cities – from $96B in 2019 to $327B by 2025. The company indicates that the uncertainty of post-pandemic will compel cities to focus on developing collaborative, data-drive infrastructure for use in healthcare, public security services and more. The opportunities will be across analytics, data dashboards and digital city services.
The analyst also expects at least 26 smart cities to be stablished by then…. Although there is no definition of a smart city. The firm defines it as “active and verifiable pursuits” in at least five of eight areas: smart governance and education; smart healthcare; smart buildings; smart mobility; smart infrastructure; smart technology; smart energy; and smart citizens.
Sixteen of those cities will be in North America and Europe… and the front runners are Amsterdam, Seoul, Singapore, and Copenhagen.
Why do we care?
In the weekend editorial, I highlighted how much of politics is local. So is this initiative. This is happening at a city level, and that is LOCAL government. There’s opportunity for savvy services providers here.
There’s two threads to focus on. First, this needs connectivity – and while I do expect cities to have it, this opportunity will not extend further unless there is investment in broadband infrastructure. You want that to happen to build the platform.
Second, you care because not just of the opportunity to build the smart cities, but the data that will be created to be leveraged beyond that. It’s a platform for innovation, and it will drive a number of industries.
Source: The Next Web