Smart Cities: Not just the sum of its parts 2015
Monitor Deloitte, Deloitte’s strategy consulting practice, expects that in 2015 and beyond, the number and value of smart city initiatives will expand substantially. The majority of new smart city projects globally will continue to be led by a few European cities. However, as new smart city projects continue to develop and are further tested and scaled up, other cities will adopt pre-tested solutions to drive smart cities growth. Much of the expansion will occur in North American and advanced East Asian cities, followed by cities in the GCC. Although industry estimates as to the market value of smart cities vary greatly, there is no doubt that the smart cities market will increase significantly over the next five years to be anywhere from over US$400 billion1 to over US$1.5 trillion2 by 2020.