A smart city is definitely much more than the ICT deployed in it but at the same time there is no doubt that it is the ICT solutions that go into making of the city and turning it smart for its citizens making it livable. According to the National Institute of Urban Affairs (NIUA), the level of urbanization will reach 50 percent in India by 2039 from the current 31%. The government-led smart city initiatives will buttress IT companies to grow in the region, underpinned by intelligent networks.
According to Greyhound Research, the project opens up a huge opportunity for global technology firms and they have joined race to submit proposals to local governments, bid for projects and collaborate with real estate developers.“As per our conversation with IT vendors, companies like IBM and Cisco see global smart city business to be worth $3 trillion and believe that close to $6 billion of it is possible from India in the next five years itself,” says Sanchit Vir Gogia, chief analyst and CEO at Greyhound Research.
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