Asia-Pacific to invest $63b into Smart Cities by 2023

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Green cityAccording to a new report from consultancy Navigant Research, cumulative investment in smart city technology in Asia-Pacific will total $63.4 billion during the period from 2014 to 2023.

“Asia-Pacific is home to most of the world’s largest and fastest-growing urban areas, and smart city technology is becoming a crucial element of their future development,” says Eric Woods, research director with Navigant Research.

“Working with an evolving mix of international and regional smart city technology firms, governments in the region are piloting a variety of technologies to solve urban problems, reduce urban energy and resource use, and prepare for future growth,” he added.

The list of problems facing contemporary city dwellers and officials in Asia-Pacific includes rapid urbanisation, stressed city finances, inadequate infrastructure, rising energy costs, congested transportation, climate change, and competition for global investment and skilled labor, all of which place unprecedented demands on cities. Emerging intelligent systems, however, promise solutions, and cities across the region are starting to implement them.

With its large number of densely populated megacities and rapidly growing economies, the Asia-Pacific region is a primary driver of global urban development trends. It is also the home of some of the most ambitious attempts to direct and channel those trends to national development goals, such as India’s immense Delhi-Mumbai Industrial Corridor, China’s 104 nationally selected smart city demonstration projects, and South Korea’s pioneering Songdo smart city development. According to the report, these will form the laboratories for future smart city development worldwide.

The report Smart Cities: Asia-Pacific provides an overview of the Asia-Pacific market for smart city solutions at a crucial point in development. The study examines the demand drivers, policies, implementation challenges, and technology issues related to smart cities in Asia-Pacific.

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Reading Time: 2 minutes

According to a new report from consultancy Navigant Research, cumulative investment in smart city technology in Asia-Pacific will total $63.4 billion during the period from 2014 to 2023.

Reading Time: 2 minutes

Green cityAccording to a new report from consultancy Navigant Research, cumulative investment in smart city technology in Asia-Pacific will total $63.4 billion during the period from 2014 to 2023.

“Asia-Pacific is home to most of the world’s largest and fastest-growing urban areas, and smart city technology is becoming a crucial element of their future development,” says Eric Woods, research director with Navigant Research.

“Working with an evolving mix of international and regional smart city technology firms, governments in the region are piloting a variety of technologies to solve urban problems, reduce urban energy and resource use, and prepare for future growth,” he added.

The list of problems facing contemporary city dwellers and officials in Asia-Pacific includes rapid urbanisation, stressed city finances, inadequate infrastructure, rising energy costs, congested transportation, climate change, and competition for global investment and skilled labor, all of which place unprecedented demands on cities. Emerging intelligent systems, however, promise solutions, and cities across the region are starting to implement them.

With its large number of densely populated megacities and rapidly growing economies, the Asia-Pacific region is a primary driver of global urban development trends. It is also the home of some of the most ambitious attempts to direct and channel those trends to national development goals, such as India’s immense Delhi-Mumbai Industrial Corridor, China’s 104 nationally selected smart city demonstration projects, and South Korea’s pioneering Songdo smart city development. According to the report, these will form the laboratories for future smart city development worldwide.

The report Smart Cities: Asia-Pacific provides an overview of the Asia-Pacific market for smart city solutions at a crucial point in development. The study examines the demand drivers, policies, implementation challenges, and technology issues related to smart cities in Asia-Pacific.

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