As a result of analysts predicting major growth in urban populations during the next 10 years, construction companies could be in a good position to help facilitate efforts for locations to become “smart cities.”

According to research firm Frost & Sullivan, www.frost.com, by the year 2025, more than 58% of the world’s population, which is approximately 4.6 billion people, will take up residency in urban areas. In an effort to accommodate the demands for services required of the people living in these areas, the implementation of smart technologies will be very important.

Analysts point to eight key “smart” items which are necessary for the development of a smart city: governance, building, healthcare, mobility, infrastructure, technology, energy, and citizens. Construction operations could stand to benefit from this growth as both building and infrastructure improvements will need to be undertaken.

The construction of roads and buildings, as well as upgrades to utilities and city infrastructure projects requiring smart technologies will be necessary if cities are committed to creating more efficient, cost-effective ways of providing services to its citizens.

Different construction teams and technologies will be needed to help in the development of plans to get smart cities up and running. Project-management systems can be pivotal in keeping tabs on what is happening and making sure things are falling within parameters and guidelines, including costs, which have been established.

And speaking of costs, Frost & Sullivan explains costs and existing infrastructure will remain key components in the development of smart cities. As a result of the challenges created by balancing the interests of a host of stakeholders, governments will be expected to take a leadership role the revamping effort to meet smart city requirements, including the importance of developing a structured approach, with an eye on open collaboration and infrastructure.

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