Global Smart City Revenues to Reach $2.1 Trillion by 2020

 

Smart City

 

Arthur D Little, a leading international management consultancy firm, recently published their latest viewpoint “Connecting the dots: Telecommunication providers as enablers for Smart Cities”, offering insights into how cities which have gained a ‘Smart’ status are evolving around the world.

 

 

The research addresses the uncertainties around Smart Cities and offers their interpretation of how to create significant value in this space for the general public and businesses alike.

 The key findings from the study include the following:

  • Global Smart City revenues will grow from $0.95T in 2014 to $2.1T in 2020 (13.9% CAGR)
  • Over 100 cities worldwide are implementing some form of smart solution within their ecosystem
  • The adoption of an integrated strategy for Smart City projects delivers maximised GDP return 

 

The research also found that Europe, North America and Asia play pioneering roles in the adoption of the Smart City concept today, whereas developing regions such as Africa and Latin America are currently investing in the modernisation of residential and social infrastructure.

Within these active regions, the majority of today’s Smart City investments are spent on smart grids, the reduction of carbon emissions, public broadband (e.g. free WiFi), and building automation. Moving forward however, a shift in focus is expected towards more complex solutions such as smart transportation, smart healthcare and smart governance systems.

The predicted growth of this all-encompassing Smart City environment means that the fundamental enabler of rapidly deployed flexible, scalable connectivity – which can work alongside existing fixed line infrastructure and can be utilised anywhere, anytime – is essential.

The wide availability of 4G LTE means that cellular-powered Smart City solutions are able to support more advanced applications, and are typically more cost-effective and timely to implement than wired line solutions as well.

 

Westbase Technology is a leading provider of 3G and 4G LTE networking solutions across the UK and Europe. Our best-in-class products and services allow Smart City ecosystems to seamlessly deploy flexible and scalable wireless communications, enabling the connection of digital applications, such as the Internet of Things (IoT), which are essential to underpinning Smart Cities.