|Smart City Technology investment in Asia Pacific to total $63B from 2014 through 2023.|
Monday, 24th March 2014
Source : Navigant Research
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.
Nations throughout the region are sponsoring enormous new urban areas to house growing populations and creating policies that encourage smart city technology to guide their development.
Working with an evolving mix of international and regional smart city technology firms, Asia Pacific governments are piloting a variety of technologies to solve urban problems, reduce urban energy and resource use, and prepare for future growth. Leading cities and providers are taking the initial steps in integrating networks of intelligent technologies to create true smart cities.
As the technology continues to advance and mature, Asia Pacific cities in both developed and developing markets are looking to a variety of non-traditional methods to solve the key problem of financing IT and infrastructure improvements.
At the same time, the group of solutions providers is growing and diversifying as Chinese and Indian firms adopt smart city strategies and expand out of their home markets, joining Japanese, South Korean, and international technology firms already active across the region.
Navigant Research forecasts that annual smart city technology investment in Asia Pacific will almost quadruple by 2023, reaching $11.3 billion.
This Navigant Research report 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.
Market size projections, segmented by region (Australia/New Zealand, Greater China, India, Japan, Southeast Asia, and South Korea) and sector (smart energy, smart transportation, smart water, smart buildings, and smart government), extend through 2023.
The report also provides a comprehensive assessment of smart city initiatives in Asia Pacific and profiles the key industry players in the region.
Get the full report HERE