Analysis of Smart City Opportunities in Latin America
As cities grow and become metropolises or megalopolises, they must confront challenges related to energy and water availability, general infrastructure, sanitation, health, and other basic services.
While many cities want to become smart cities, most of their initiatives center on green concepts only. Smart cities apply technology to become more efficient in the use of resources, saving energy, improving services, and promoting sustainable development.
The goal of a smart city is to solve major problems that citizens face daily through modernized management that encourages greater interaction between citizens and institutions to achieve better quality of life.
The smart city concept is still developing in Latin America as many cities confront problems such as drug trafficking, pollution, and congestion. Management is not known for efficiency, and there is much less transparency than in cities located in more developed regions.
About this report
While many cities claim to be in the process of becoming smart cities, most of their initiatives center on green concepts only. The goal of a smart city is to solve major problems through modern management and greater interaction between citizens and institutions to achieve a better quality of life. Frost & Sullivan has identified 8 parameters that will help to define a smart city. Latin America is still in the development stage of the smart city concept. This market insight examines where several major Latin American cities stand in their progress to becoming smart cities, and identifies their key successes.
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