Smart Cities Market is expanding rapidly with Vodafone Idea introducing an integrated IoT solution for smart city projects in India
A smart city is an urban region, which makes use of various kinds of sensors and electronics systems to gather data about its surroundings. These data are then used to efficiently manage resources, services, and assets efficiently; in turn, this information is used to enhance the overall performance across the whole city. Smart cities have become the center point of sustainable economic development of any country. As a result, governments of many countries have taken proactive initiatives to launch smart city programs, which are either fully government-funded or on PPP models. Recently, in June 2015, the Government of India launched ‘100 Smart Cities Mission’, allocating a fund of US$ 14 billion. Such initiatives have also attracted larger private investment, in order to aid sustainable economic development. Hence, such factors can stimulate growth of the smart cities market. Another key factor governing the development of the market is many cities are adopting smart and connec...