The Smart City Market

Leonidas G. Anthopoulos ()
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Leonidas G. Anthopoulos: Technological Educational Institute (TEI)

Chapter Chapter 4 in Understanding Smart Cities: A Tool for Smart Government or an Industrial Trick?, 2017, pp 187-213 from Springer

Abstract: Abstract A novel smart city market evolves radically and it is estimated to reach US $1 trillion by 2025 and exceed the size of all traditional business sectors (Amarnath in City as a customer strategy: Growth opportunities from the cities of tomorrow, 2010; Kohno et al. in Hitachi’s smart city solutions for new era of urban development, 2011). In 2016 alone, an amount of US $39.5 billion was projected to be spent in smart city technologies (CISCO in The city of the future: Smart and connected, 2014). This chapter makes clear that smart city’s value deal with the city’s response against the identified challenges described in Chap. 2 . Then, it explores the source of this value that can justify the growth and size of the corresponding market. Finally, it questions whether the smart city value can generate an urban utopia, which is being broadcasted by city branding. In this respect, it explains the city branding context and identifies a bi-directional interconnection between the origins of branding and smart city.

Keywords: Business Model; Smart City; Soft Power; Customer Segment; Business Model Innovation (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:paitcp:978-3-319-57015-0_4

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DOI: 10.1007/978-3-319-57015-0_4

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