NEW DELHI, May 28th: Sustainability Outlook has developed a
Smart Cities Opportunity Assessment Model (SCOAM), which pegs the opportunity for smart cities in India over the next 5 years at $45-$50 billion. The opportunity assessment model builds on Sustainability Outlook’s past work related to Smart City Maturity Model is focused on creating a framework for smart cities in India.
The SCOAM was released at a conference in New Delhi.
“Collaboration amongst stakeholders including policy makers, technology solution providers, Urban Local Bodies and citizens is the key to unlocking the enormous opportunity presented by smart cities in India”, shared Upendra Bhatt, Managing Director, cKinetics .
The model focuses on four key focus areas, namely, smart energy, smart water management, smart transportation and smart waste management to estimate the market size for smart interventions through this model. Smart water management and smart energy interventions account for the lion’s share in terms of potential business opportunity in India which is estimated to be $14.4 billion and $23.4 billion respectively followed by smart transportation at $6.3-11.6 billion and smart waste management at $0.9 billion.
The SCOAM analysis covers opportunities represented by smart cities by breaking it down into various components and studying the business case for the different interventions. It also examines the direct and indirect impact of various smart solutions, their ease of implementation as well as applicability according to different city types. The SCOAM can also be customized to help solution providers identify the market opportunity for specific cities and assess the investability as well as impact created by their smart solutions.
‘Smart Cities’ is the new buzzword in the Indian infrastructure and development space. Sustainability Outlook is working in the smart cities domain with the objective of clearing the fuzziness surrounding the concept of smart cities, quantifying the benefits and impact of smart solutions and creating collaborative models to help catalyse industry action in the domain in India.
A detailed study on “Opportunity Pathways for Smart Cities Business in India” is being conducted by Sustainability Outlook which will be released in Q2 2015. The study will detail out the market opportunity and also determine the pathways to realize that potential and present a business case for these smart interventions.
