Navigant Research released a report this week predicting that global smart city revenue will grow from $36.7 billion this year to $88.7 billion by 2025. The report focuses on the energy, water, mobility, buildings and government elements of smart cities.
Energy will be a big part of smart city development both from the supplier and end user sides. Buildings, for instance, will increasingly monitor through sub-metering and energy management systems. This will enable proactively usage control. The increasingly bidirectional nature of the grid also will help cities use energy more efficiently. The challenge, the report says, is turning the vision from pilot projects “to large-scale, financially sound deployments.”
Peter Feuilherade suggests that smart buildings are an important element of smart cities from the energy, transport, water and air quality perspectives.