Innovative projects World’s top 10 smart cities
New York, London, Paris, Tokyo and Reykjavik are the top five smart counties in the world, according to the ‘IESE Cities in Motion Index’. The index has revealed a list of the top 10 smart cities of the world by taking into consideration nine diverse factors.
The global smart cities market size is expected to reach 2.57 trillion dollars by 2025, registering a strong CAGR of 18.4 % during the forecast period, states a new report by Grand View Research. A growing urban population, the need to optimise natural resources and develop a sustainable environment in the presence of global warming are the main demand drivers for establishing smart cities across the world. Countries are now racing towards building a smarter and sustainable city.
The IESE Business School Center for Globalization and Strategy, and the IESE Department of Strategy under its platform ‘IESE Cities in Motion Index’ has recently ranked the current top 10 smart cities of the world. It is interesting to note that research has been carried out on 165 cities from 80 countries and does not only focus on the advanced technology used in the city but also gives importance to other aspects that are considered important for a smart city. This includes segments such as human capital, social cohesion, the economy, public management, governance, the environment, mobility and transportation, urban planning, and international outreach.
World’s top 10 smart cities
1. New York (USA)
New York tops the chart as it scored well in all the segments mentioned above. The city held the first position in sections such as the economy and urban planning. For international outreach as well as human capital, mobility, transportation, the city secured the third and fourth position respectively. However, on aspects such as environment and social cohesion, the city stood at a position of 99 and 109.
Smart Feature: The city had implemented a street lighting initiative a few years ago under the city’s ‘Reforming the energy’ vision. Under the programme, New York aimed to replace 500,000 street lights with new LED technology by 2025. The project reduced the city’s energy consumption drastically and now the state’s governor has recently announced 7.5 million dollars to enhance this initiative and incorporate new technologies such as sensors, surveillance cameras, air quality monitors, and many other accessories on the street lights to optimise the operations of the city.
2. London (UK)
Occupying the second position, London has secured the first position in human capital. In terms of international outreach, mobility and transportation, the city held the second position, and for the economy fourth position. In terms of environment and social cohesion, it secured position 40 and position 68 respectively.
Smart feature: London owns the world’s first ‘smart street’. Located in Bird Street which is considered to be one of the biggest shopping zones in the city, the smart street is capable of producing electricity and data as people walk on it. The energy is used to power lights in the night and is also used to power bird sounds which make one’s shopping experience all the more fun.