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Smart Cities: $45-$50 Billion Opportunity in India
‘Smart Cities’ is the new buzzword in the Indian Infrastructure and development space. While we may have an inkling of what it may represent, there is a lot of fuzziness surrounding the concept of smart cities, the benefits they may bring and particularly, the level or investment and business potential they represent in India.
To demystify the opportunity represented by smart cities, Sustainability Outlook has developed a Smart Cities Opportunity Assessment Model. This model pegs the opportunity for smart cities in India at USD 45-50 billion over the next 5 years. This opportunity primarily pertains to four focus areas - Smart Energy, Smart Transportation, Smart Water Management and Smart Waste Management. With multiple interventions considered under each focus area, smart energy and smart water management account for the lion’s share in terms of potential business opportunity in India estimated to be USD 14.4 billion and USD 23.4 billion respectively.
Energy, water management, transportation and waste management were identified as the sectors of focus for the first version of the Smart Cities Opportunity Assessment Model. These sectors were chosen since they are facing or likely to face the biggest challenges in the near future due to growing population, urbanization, increasing resource shortage and environmental concerns. Hence, the need as well as scope for improving efficiency through smartness in these sectors is also the highest.
The model developed by Sustainability Outlook takes into account the largest representative smart interventions in the 4 sectors mentioned above. For each of these interventions, the market for the various different types of cities was assessed by taking into account a host of parameters to get an accurate sense of the level of penetration of various smart technologies. The Opportunity Assessment Model analyzes various specific interventions for smart cities and aims to answer the following questions:
To get engaged and learn more about the on-going work related to smart cities, please email us at email@example.com (Market Access & Insights Team at Sustainability Outlook)