Smart City Technology Market to Reach $20.2 Billion in 2020: Top 10 Predictions for 2013
FARMINGTON, Conn., Feb. 6, 2013 /PRNewswire-iReach/ -- 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, with nearly all of that growth occurring 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 consequences of this new phase of urbanization on the global economy and on existing urban infrastructure and resources are already being felt and are spurring innovation in urban design, technologies, and services.
Worldwide Smart City 2013 Top 10 Predictions
The Smart City movement is emerging and growing as a significant force of innovation and investment at all levels of government. To assist government organizations, IDC, premium market research partner with Global Information (GII), has identified the top 10 predictions for 2013 that will most heavily influence the direction and magnitude of technology investment, management, and evaluation.
The goal of this report is to draw attention to events that exemplify the strategic shifts reshaping the ways cities operate, shifts that will require city leaders to make smart and sometimes very difficult decisions.
This worldwide set of Smart City predictions is a list of prioritized business drivers and technology trends that our team believes will shape the local government IT landscape in the context of an economically and socially challenging 2013 time.
The predictions captured in this report outline the collective opinion of the IDC Smart City team of analysts representing all regions globally.
Among the top 10 predictions are:
1. In 2013, 70% of Worldwide Spending on Smart City Projects Will Be Focused on Energy, Transportation, and Public Safety, and 90% of These Will Be at Least Partially Funded by National or International Government.
2. At Least 50% of Smart City Programs Will Be Initiated at the Line-of-Business or City-Function Level.
3. Worldwide Spending on Smart Water Solutions Will Reach $1.8 Billion in 2013.
The full list of predictions and free sample pages from the full document are available at http://www.giiresearch.com/report/govt261272-worldwide-smart-city-top-10-predictions.html
Smart Cities: Infrastructure, Information, and Communication Technologies for Energy, Transportation, Buildings, and Government: City and Supplier Profiles, Market Analysis, and Forecasts
The smart city technology market will grow from $6.1 billion annually in 2012 to $20.2 billion in 2020. 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.
This 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.
An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/pike260096-smart-cities-infrastructure-information.html
For more market research highlights, technical research news and industry updates, please visit http://www.giiresearch.com/press/
About Global Information Inc. Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.
Jeremy Palaia Global Information, Inc., 1-860-674-8796, Press@gii.co.jp
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SOURCE Global Information, Inc.