Arthur D. Little, which claims to be “the world’s first consultancy”, says the smart cities represent a “trillion-dollar” market opportunity.
In one of its special reports looking closely at a particular industry, a group of researchers provide a detailed overview of the market.
They say: “The 100 largest cities in the world produce 25 per cent of the planet’s wealth. To succeed, more and more cities are going ‘smart’ in order to meet their biggest challenges and enrich the quality of their citizens’ lives. This unstoppable trend is driving double-digit growth in a trillion-dollar global market.”
AD Little says the four largest “verticals” in terms of revenue are:
- building automation;
- transportation and logistics; and
- financial services.
Together these four sectors make up 70 per cent of the total opportunity, says the company.
Full report on RoboticsAndAutomationNews.com.