Smart cities segment in India will experience significant growth during the forecast period due to the increasing demand for high-performance computing, increasing reliability, stability, and supportability, reduction in ongoing cost, elimination of traditional systems and manual processes, and better security. The Smart Cities Market revenue in India is expected to grow at a CAGR of 19% during the forecast period 2020–2023 to touch an aggregate of $48 billion by 2023.
Indian Government's $7 billion Smart City mission aimed at applying smart solutions to improve infrastructure and service delivery in Indian cities. It covers various aspects of the Internet of Things (IoT), including how it will be put to work to create smart energy, smart transportation, smart infrastructure and smart buildings, smart security, smart or connected homes, and smart healthcare.
In the coming decades, the urban sector will play a critical role in the structural transformation of the Indian economy and in sustaining the high rates of economic growth. Ensuring high quality public services for all in the cities and towns of India is an end in itself, but it will also facilitate the full realisation of India’s economic potential. India’s economic growth momentum cannot be sustained if urbanisation is not actively facilitated. Nor can poverty be addressed if the needs of the urban poor are isolated from the broader challenges of managing urbanisation. Cities will have to become the engines of national development. India cannot afford to get its urban strategy wrong, but it cannot get it right without bringing about a fundamental shift in the mindset which separates rural from the urban.
COMPAXED team is dealing in Sports segment for various M&A, Investment Banking and Corporate Advisory services aspects.
