Asia Pacific to become laboratory for smart city development
- 20 March 2014
BEIJING: The Asia Pacific is to become a laboratory for smart city development, according to a new report by Navigant Research.
Asia Pacific cities are facing a host of problems including rapid urbanization, 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 city dwellers and officials.
All is not lost, however, as according to a new report from Navigant Research. 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 as well as an assessment of smart city initiatives in Asia Pacific and key industry players.
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.
Emerging intelligent systems being developed in the region promise solutions, and cities across Asia Pacific are starting to implement them with cumulative investment in smart city technology expected to reach US$63.4 billion from now until 2023.
These and other initiatives in Asia Pacific will form the laboratories for future smart city development worldwide, Navigant says.
“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,” said 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.”