According to Frost & Sullivan, Smart Cities is set to be a $1.5 Trillion market by 2020. $260 Billion of that will be invested in locations across the Asia Pacific in the same period, with 10 cities identified as becoming truly smart cities by 2025.
To date it has been cities in Europe that have led the charge. Places like Copenhagen (top notch sustainable energy, transit and green building standards); Amsterdam (take a look at the Amsterdam Smart City public private partnership that has over 99 projects in train and has been doing so since the 1990s), Vienna, London, Stockholm, Barcelona…
The list of cities closer to home in the Asia Pacific with innovative Smart City projects underway though is growing. The city of Ipswich in SE Qld for example, was recently recognized by the New York-based thinktank Intelligent Community Forum as one of the worldwide top seven (7) intelligent communities. It has a 20 year plan to partner with the National Broadband Network, and to establish Digital Hub and Digital Enterprise programmes, coupled with major redevelopment of its city centre set to adopt smart city themes.
City councils, state and federal governments, private sector and academia are collaborating to enable the germination of innovative ideas. And it’s doesn’t stop at ideas. These public private cohorts are bringing to fruition people, infrastructure, sustainability and technology programs that are changing the way people commute, live and connect. Smart city projects are touching healthcare, education, commerce, public service, infrastructure and more.
Recently, Cogility has been working on initiatives within the Smart City ecosystem such as a food safety supply chain in a purpose built Smart City in China; and various digital health precinct projects in Australia.
The Smart City space is still in its nascent stages though, particularly in the Southern Hemisphere and we’re enthusiastic about listening to the global experts who will descend on Melbourne this week at theSmart Cities Australia Summit.
The summit is all about what it takes to build smart, sustainable and resilient cities.
Related article: Smart City or Smart Citizen?