Sead Fadilpašić: Smart cities – a multi-billion-dollar industry

Within the next four years, a bunch of cities around the world will be transformed into smart cities, technology research firm IHS Technology suggests.

By becoming smart, they will offer operators $25 billion (£17.96bn) in opportunities. According to IHS Technology, Los Angeles, San Francisco, Chicago and New York, London, Amsterdam, Seoul, Hong Kong, Tokyo and Singapore are most likely to become ‘smart’ before 2020. Currently, there are 423 smart city projects, including safety and security, energy and resource efficiency, mobility and transport, physical infrastructure, governance and healthcare.

The biggest effort is in the mobility and transport industry, which currently has 110 projects, IHS Technology says.