USD3.5 Trillion Smart City Market In China

- Aug 08, 2019-

The Report on the Work of the Government 2019 puts forward that the key point of new urbanization is to take people as the core, improving the level of flexible governance and fine service.

As the carrier of promoting the synchronous development of informationization and urbanization, the construction of a new type of smart city has attracted much attention.

The projects of smart cities have been putting into effect one after another. More than 500 cities in China are building smart cities.

In August 2018, the data provided by the National Development and Reform Commission showed that as of August 2018, 100% of the cities above the sub-provincial level, including more than 76% of the prefecture-level cities and 32% of the county-level cities, totaling about 500 cities, had clearly proposed that smart city has being built.

In Wuhan, Hubei Province (in the central part of China), Hanzheng Street, known as the "First Street in the World", has introduced the advanced smart community system. Through the smart pole integrated with intelligent monitoring system and sensor probe, the comprehensive intelligent management in the whole area is realized, monitoring full coverage without blind side, dispersing crowds in advance and automatically guiding parking.

If the construction of smart city greatly improves the efficiency of urban management, then the construction of smart park greatly enhances the power of urban economic development.

Along with the construction of smart cities, related enterprises also enjoy certain dividends, especially those producing the supporting hardware facilities of smart cities, most of them have achieved high-speed growth.

Smart street lamp pole is an indispensable part of the hardware in the construction of smart city. Camera, Wi-Fi, one-button alarm, display screen, audio and so on can be mounted on the same street lamp pole to realize the functions of collection and transmission.

An enterprise has designed and produced an smart pole. The whole lamp pole turns red when the one-button alarm being pressed, so that the alarm point can be quickly found. When an emergency occurs in a city, arrow appears on the display of the lamp pole to guide the escape path.

According to the statistics of Qianzhan Industry Research Institute, the market size of China's smart cities in 2014 is only USD0.11 trillion. It exceeded USD0.14 trillion in 2016 and reached USD0.85 trillion in 2017. In 2018, China's smart city market is expected to reach USD1.12 trillion.

Looking ahead to 2019, Qianzhan Industry Research Institute believes that the market scale of China's smart cities will exceed USD1.42 trillion. The compound annual growth rate from 2018 to 2022 is about 33.38%, and the market size of China's smart cities will reach USD3.55 trillion in 2022.

(Translated from ZhiChengShiHuiShengHuo WeChat APP)