A new study by Juniper Research revealed that Shanghai is the leading smart city in 2023. In fact, the study made by experts in sustainability and IoT market found that three cities that made the top five are from Asia, with Seoul and Shenzhen placing fourth and fifth respectively.
New York and Toronto ranked second and third respectively.
Juniper Research’s ranking of 50 world cities is based on an evaluation of many different smart city aspects, covering transportation and infrastructure, energy and lighting, city management and technology, and urban connectivity.
The research analysed Shanghai as leading due to its Suishenban Citizen Cloud, which provides access for over 1,000 different services for city residents, as well as its strong deployment of 5G, and its use of innovative technologies including digital twins.
The leading cities in this ranking have all rolled out services that are effectively harnessing data and connectivity to improve citizen experiences.
“Shanghai has taken a joined-up approach to data; building not only a robust and all-encompassing data platform, but also the connectivity to underpin every aspect of this,” said Nick Maynard, head of research, Juniper Research.
“This joined-up approach is the biggest takeaway for rival cities wanting to emulate Shanghai’s achievements, and should be a part of any smart city initiative to ensure success.”
Cost savings drive smart city deployments
Meanwhile, Juniper Research estimates cost savings from smart city deployments will reach US$249 billion by 2028 globally, representing a growth of 158% from US$96 billion in 2023.
Cost savings represent the monetary impacts of reduced energy usage and emissions from the deployment of smart grid, smart traffic management and smart street lighting.
“These massive savings are a major driver of smart city deployments, and will equate to almost three times the spend on smart city software and hardware by 2028; showing a clear path to return on investment for cities,” said Juniper Research in a statement.
