“Smart City” has become vernacular, and everyone is talking about it. Governments across the world are vying to develop “Smart Cities” in their countries.
Asian country China has committed 8 billion US dollar for Smart city development and India has plans of developing 100 smart cities, in the pipeline.
The smart city market size is estimated to grow from USD 312.03 Billion in 2015 to USD 757.74 Billion by 2020 at an estimated CAGR of 19.4% from 2015 to 2020. A host of things will come to mind when we say smart city.
However, the definition of a “Smart City” in the current times has evolved. It is no more just about infrastructure and community places or architecture.