Smart Cities = Smart Construction

With the number of smart cities increasing from about two dozen to more than 100 in just a few years, the market for these connected communities is already on a strong path. Contractors need to be aware of the new technology advances in this area, as it will impact how work is done at the construction jobsite in the future.

The driving factors for the growth include rapid connectivity, growing population, government initiatives, growing energy consumption, and more. These factors mean that renovations and new construction will occur to upgrade the cities to smart cities.

The market comprises more than 1,500 cities with populations of more than 500,000 people and twice that many number of cities with populations over 150,000 people. The smart-cities market consists of about 5,000 medium to large cities, with predictions of at least 10 percent to 13 percent penetration, or about 600 cities, within the next 20 years.

One area that will impact contractors directly is building management systems. The increasing need for a centralized system for controlling and monitoring various devices such as: lighting, heating, ventilation, and air conditioning, surveillance, and emergency response means that contractors who can update the systems will be better positioned in this market.

In order for these cities to become smart cities, funding is needed for the work. Public and private stakeholders are preparing for the disruption with key strategies to build and transform cities into seamless ecosystems. Cities are also looking toward increasing capacity and efficiency of functioning in order to attract economic growth and activity. Keeping an eye on funding sources and budgets for cities will give clues as to when projects will be occurring.

The need for smart-city solutions will only increase and construction companies will be responsible for making these smart cities a reality.

 

Posted: 9/11/2017 6:43:18 PM



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