A Smart City is a city that strives to enhance services and increase the quality of life in urban areas, while at the same time reducing the environmental impact and cost of living and doing business. This can in part be achieved by utilizing information technology, big data analytics and a generous amount of connected devices.
Maybe not so surprisingly, the Smart City concept touches quite a few of the ideas from the other IoT segments we highlight, especially in automotive/transportation, and the medical and health industry.
Some opportunities with Smart Cities
- Reduced pollution, less noise and less time spent in rush traffic due to better real-time traffic planning and transport management. Imagine your autonomous car arriving at your doorstep to pick you up exactly on time when you close the door, based on data from your typical morning routines, to drive you safely to work. A slightly scary but not especially unrealistic scenario.
- New business opportunities by smart utilization of existing overcapacity in for example transportation, warehousing or manufacturing. Such overcapacity may be of transient nature and thus difficult to share unless reliable and up-to-date usage data is available.
- Power utilities might be able to mothball their expensive, often inefficient and potentially dirty, peak generation capacity due to more uniform distribution of loads and lower overall consumption.