Smart cities market size is expected to grow from USD 424.68 Billion in 2017 to USD 1,201.69 Billion by 2022, at a CAGR of 23.1% during the forecast period, mainly due to rapid connectivity and fast telecommunication provision; and growing demography and hyper-urbanization. (MarketsandMarkets)
What’s a smart city?
According to Wikipedia; A smart city is an urban development vision to integrate information and communication technology (ICT) and Internet of things (IoT) technology in a secure fashion to manage a city’s assets. These assets include local departments’ information systems, schools, libraries, transportation systems, hospitals, power plants, water supply networks, waste management, law enforcement, and other community services.
Why do we need smart/ intelligent cities?
By 2050, 66% of the world’s population is expected to live in urban areas. The challenge will be to supply these populations with basic resources like safe food, clean water and sufficient energy, while also ensuring overall economic, social and environmental sustainability.
Canada is wrestling with both an infrastructure gap, after years of underinvestment, and an innovation gap from poor innovation performance in the business sector over many years. Improving both is essential to improve our fundamental economic prospects. By linking infrastructure and innovation, we increase the potential to help close both our infrastructure gap and our innovation gap, developing the business capacities for what will become one of the world’s biggest export opportunities as a growing global population becomes a more urban population.
To better address some of these opportunities, IoT Events is organizing 2nd Annual Intelligent Cities Summit this fall. This unique two-day conference features C-level thought provoking leaders across the Canada as well as technology leaders exploring topics such as:
- Creating Sustainable Cities with IoT
- 21st Century City – Building Infrastructure, Creating Jobs, Improving Quality of Life and Service
- Leveraging Smart Technologies advance Sustainability in Intelligent Cities
- How Big Data & IoT can Revolutionize Public Libraries – Remaining Relevant in Age of Millennials
If you’re interested in being a part of these 2 thought provoking days then visit the conference website, email us at firstname.lastname@example.org or give us a call at 416-597-5751.
Image sources: Ohara IT Solutions (featured image) & Safe & Smart City