It comes as a new report published by the Department for Business, Innovation & Skills values the smart cities industry at more than $400 billion globally by 2020, with the UK expected to gain a 10% share ($40 billion).
A smart city uses intelligent technology to enhance the quality of life in urban environments. Cities can use the data in a variety of ways; to save money, minimise waste, measure domestic water usage and manage transport routes.Allowing the public access to real time information enables people to make more informed choices, such as planning a journey by checking for available room on trains and buses or even identifying car parking spaces before leaving the house.
The 'Smart city market: opportunities for the UK' report highlights how this technology could transform lives and provide a huge economic boost. To ensure that the UK does not miss out on the opportunities offered by smart cities, a new Smart Cities Forum has been established, chaired by Universities and Science Minister David Willetts and Cities Minister Greg Clark, and with representatives from cities, business, and scientists.
The government is already supporting investment in this sector, as highlighted in a background paper published by the Department for Business, Innovation and Skills today. This investment includes around £95 million of research into smart cities funded by Research Councils UK, £50 million over 5 years earmarked for the new Future Cities Catapult centre being established by the Technology Strategy Board in London, and £33 million invested in future city demonstrators earlier this year. Other government-funded activities include transport projects to promote intelligent transport systems and smart ticketing, the roll out of telecare and telehealth in the NHS, and the introduction of smart meters by 2020.
