In our last insights, we saw the advent and evolution of Internet of Things (IoT) & related fields - their ongoing, humungous impact on the growth trajectory, and the need for connectivity to offer simpler, richer and energy efficient ways to perform any task. Harbouring on that resourceful role of connectivity, this time we will take a look at Intelligent Transport System (ITS) & Smart Cities markets, and how these have set out to play a crucial role in our global development.
According to The World’s Cities in 2016 report of United Nations, more than half the world’s population - i.e. an estimated 54.5% - lived in urban settlements in 2016. By 2030, they expect this to raise to 60%, wherein one in every three people will live in cities that has at least half a million inhabitants.
Key data findings:-
- In 28 regions, more than 40% of the urban crowd are concentrated in a single city of more than one million inhabitants
- One in five people worldwide - i.e. 23% - live in a city with more than 1 million inhabitants
- By 2030, 662 cities are expected to have at least 1 million residents, and 730 million people will live in cities with at least 10 million inhabitants - i.e. 8.7% of world population
- Most of the world’s fastest growing cities are in Asia and Africa, with most megacities from the global South
