Naperville, IL -- (SBWIRE) -- 03/05/2013 -- The term "Smart City" is commonly used to refer to the creation of digital and internet-enabled infrastructure in urban areas but can also refer to the creation of smart grids, smart meters, and other infrastructure for electricity, water supplies, waste and other "city basics". The world is swiftly becoming more urbanized thanks to migration from rural areas to cities and the resulting stress to virtually all global systems may only be solved by the concept of smart cities. Old and established city infrastructures may not always be adequate to provide food, water and energy supplies to urban populations. However, completely replacing the existing infrastructure would be unrealistic in terms of cost and time. Therefore, one possible solution is to digitalize the existing infrastructure to allow to cities to respond intelligently to all domestic needs. In this way data can be carefully collected and analyzed so that cities can plan their growth without the fear of their infrastructure overloading.
Many countries are witnessing their cities expanding at an extraordinary rate, with China's urbanization rate reaching 52.57% in 2012, and there is a growing need to apply smart city concepts to such bustling urban centers in order for them to cope with the massive population increases. The target-specific roll-out plans, attractive incentives and funding arrangements from governments are helping utilities to implement their smart city projects. The global Smart Cities market is expected to reach a value of US$1,026.3 billion by 2017.
The new report Smart Cities Market to 2017 - Smart Security Segment to Flourish as Interoperability Standards and Public Private Partnerships Promote Growths provides an in-depth analysis of the global smart cities market, and provides market revenues for the global smart cities market and its major sectors, such as smart buildings, smart homes, smart transportation, smart grids, smart healthcare, smart education, smart security and smart industry automation between 2011 and 2017. The report also provides information on market dynamics and major contracts and deals, and covers the major existing smart city projects like Dongtan Eco-City in China and Jeju Island in South Korea.
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