The Market Analysis On The Rise Of Smart Cities In The Future
Smart cities are the cities that incorporate ICT to enhance the performance and quality of urban services such as energy, transportation to reduce the resources consumption, wastage, and overall operational costs. This concept aims to enhance the living standard for its citizens through smart technology. An estimate by the global market research company shows the annual investments on smart city projects will surpass USD12 Bn in 2025. It comprises of application of varied digital and electronic technologies to the city and its communities. The dramatic shift of the worldu2019s population to the urban cities are encouraging citizens, city planners, government, and business tycoons to look into and enhance the vision of smart cities. The development of smart cities is empowered by the integration of digital technologies since India has started to accelerate social and economic growth. Market survey reveals that around 1.3 million people are currently moving into cities each week.
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