THE OPPORTUNITY IN SMART CITIES TO HIT $1.5TRIL BY 2020
Smart City Market Anticipated to Create Huge Business Opportunities with a Total Market Value of $1.5 Trillion by 2020… More than 26 cities globally will be smart cities in 2025 with more than 50 percent being in Europe and North America
26 February 2014 (Frost and Sullivan)
“…[An overpopulation problem in modern cities is causing] social, political, energy and environmental instability. The so-called smart city concept has been developed to address all upcoming challenges by implementing modern infrastructure enabling ‘smart’ and ‘intelligent’ solutions and technologies...[S]mart cities are anticipated to create huge business opportunities across different industries with a total market value of $1.565 trillion by 2020…[This] encompasses a number of smart products which are characterized by an intelligent sensing technology that is increasingly being integrated with Internet technologies, thereby allowing the product to react to and communicate with the changing environment around it. This leads to optimal operations and improvement in efficiency…” click here for more
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