Cities consume between 60 and 80 percent of the world’s energy and produce about the same percentage of the world’s greenhouse gas emissions. According to a recent report from Pike Research, getting smart about how we handle urban systems and services will not only help to mitigate the environmental effects of the mass urbanization of the world – which is only expected to increase in coming years – but also improve our lives.
According to Pike’s new report, “Smart Cities,” smart-city technology infrastructure focused on energy efficiency, building design, transportation, waste management and energy use will total $108 billion between 2010 to 2020. By the end of that period, the cleantech analysis firm anticipates that annual spending on energy efficient urban infrastructure will reach nearly $16 billion.
The report examines smart-city developments around the world, analyzing the impact of the smart city on key technology markets including smart utilities, smart transport, smart buildings and smart government. It forecasts the size and growth of the market for smart-city technologies through 2020 and the growth in each of the key smart city industry sectors and the main regional markets. The report also examines the strategies of key players in the smart city market including IT companies, telecommunications companies, utilities, infrastructure providers and real estate developers.
An executive summary of the Pike report is available on the firm’s website for free download.