The next 40 years will see an unprecedented transformation in the global urban landscape. Between 2010 and 2050, the number of people living in cities will increase from 3.6 billion to 6.3 billion.
Almost all of that growth will occur in developing countries.
By 2025 there will be 37 megacities, each with a population greater than 10 million; 22 of those cities will be in Asia.
The impacts of this new phase of urbanization on the global economy and on existing urban infrastructure and resources are already being felt.
They are also spurring innovation in urban design, technologies, and services.
Trillions of dollars will be spent on urban infrastructure in this period, presenting an immense opportunity for new transport management systems, smart grids, water monitoring systems, and energy efficient buildings.
Information and communication technologies will be deeply embedded in the fabric of both old and new cities and will change the way we think of city operations and how we live and work in these environments. Pike Research forecasts that the smart city technology market will grow from $6.1 billion annually in 2012 to $20.2 billion in 2020.
This Pike Research report examines the evolution of the smart city market, detailing the impacts on key technology markets, including smart grids, water management, transportation, building energy efficiency, and government services. It also compares approaches to the smart city in North America, Europe, Asia Pacific, and the Middle East and provides detailed profiles of major smart city projects in each region. The report includes forecasts of the size and growth of the market for smart city technologies through 2020, segmented by key smart city industry sector and by region.
Key Questions Addressed:
- What defines the smart city?
- What are the primary market drivers and barriers for smart city development?
- What are the key policy, technology, and economic issues that are influencing the development of smart cities?
- Which smart technologies are having the biggest impact on smart cities and how are smart cities shaping technology developments?
- What financing models are being used in smart city development?
- Who are the key players in the market and how do they relate to each other?
- How large is the global smart city technology market opportunity, and how will it be segmented by industry sector and region?