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Smart City Market Anticipated to Create Huge Business Opportunities with a Total Market Value of $1.5 Trillion by 2020, states Frost & Sullivan

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Smart City Market Anticipated to CreateSmart City Market Anticipated to Create Huge Business Opportunities with a Total Market Value of $1.5 Trillion by 2020, states Frost & Sullivan PR Newswire MOSCOW, Feb. 26, 2014 - More than 26 cities globally will be smart cities in 2025 with more than 50 percent being in Europe and North America The continuous increase in the number of people living in urban areas is leading to a growing overpopulation problem in modern cities. This also causes social, political, energy and environmental instability. The so-called smart city concept has been developed to address all upcoming challenges by implementing modern infrastructure enabling "smart" and "intelligent" solutions and technologies in the cities of today. Frost & Sullivan Sales Manager Maxim Perevezentsev recently gave a lecture outlining a Strategic Opportunity Analysis of the Global "Smart City" Market until 2025 at the Open University Skolkovo (OpUS) Winter School. Mr. Perevezentsev presented the company's vision on the future development of urban areas, including a stakeholder analysis providing information on the total addressable smart city market size and smart city business models as well as funding mechanisms. According to Frost & Sullivan smart cities are anticipated to create huge business opportunities across different industries with a total market value of $1.565 trillion by 2020.

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Published 26 February 2014
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Smart City Market Anticipated to Create Huge Business Opportunities with a Total Market Value of $1.5 Trillion by 2020, states Frost & Sullivan

PR Newswire

- More than 26 cities globally will be smart cities in 2025 with more than 50 percent being in Europe and North America

The continuous increase in the number of people living in urban areas is leading to a growing overpopulation problem in modern cities. This also causes social, political, energy and environmental instability. The so-called smart city concept has been developed to address all upcoming challenges by implementing modern infrastructure enabling "smart" and "intelligent" solutions and technologies in the cities of today.