IDC Government Insights has estimated that Smarter Cities information technology market opportunity is will be a $34 billion market in 2011, increasing more than 18 percent per year to $57 billion by 2014.
In a press release, IBM noted that smarter cities are important for the global redesign we are experiencing in the world.
All cities are made up of a complex system of systems that are all inextricably linked The Intelligent Operations Center for Smarter Cities recognizes the behavior of the city as a whole, thus providing more coordinated and timely decision-making based on deep insights into how each city system will react to a given situation.
With more than 2,000 smarter cities engagements worldwide, we are now applying best practices and solutions that can be scaled to cities of all sizes around the globe.
Anne Altman, general manager for Global Public Sector at IBM, said.
As the majority of the world’s population repatriates to metropolitan areas, key city systems such as water, power and transportation, IBM said, are being strained to breaking point. For citizens, a smarter city can mean automatically finding the fastest way to get to work, electricity and drinking water that can be counted on, and safer streets, to start with.
As city governments put their resources to manage these problems which IBM pioneered as a business sector, IBM will surely see huge business opportunities. They created the market and they are reaping benefits from it. If the trend continues with the green movement, IBM can even move this beyond the $57 billion market IDC has projected for 2014.