Which Comes First: Smart Home or Smart City?

May 2020

Smart homes and smart cities are becoming more widespread thanks to growing smartphone and internet use. Data-driven decision making is helping to improve the efficiency of homes and cities, enabling a more sustainable mode of living that discourages wastefulness. Still, major challenges persist such a cost of investment and data regulations are stemming growth. Despite COVID-19’s detrimental impact to the global economy, smart solutions will continue to become more abundant in the long run.

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Key Findings

Smart homes can improve convenience

Smart home devices such as robot vacuum cleaners and wireless speakers help to save consumers’ time thus supporting convenient consumers’ lives.

Smart home business opportunities

Smart homes can leverage the higher value on construction, telecommunication firms and appliances and electronics manufacturers. This creates emerging business opportunities across stakeholders.

Factors for smart home growth

Overcoming barriers such as data privacy, lack of an international standard, business model and potential conflicts between stakeholders will accelerate the smart home growth.

Smart cities can bring efficiency benefits

Smart principles can improve the efficiency of various city management systems including waste, energy and utilities by using data to better execute decision making.

Data liberty - the key to smart city success

Data are the key ingredients of smart cities. However, without adequate security of citizens’ data, this may provide an obstacle to future smart city projects.

Partnerships are essential

   Co-operation between the various partners involved in smart cities is tantamount. Partnerships between public and private entities ensures and the free flow of data between the parties involved. Smart city planners should ensure that they choose the appropriate business model for partnerships that addresses their financial capabilities and their ability to manage city assets.

Introduction

Scope
Key findings

Smart Home

Steps towards smart home and smart appliances
Smart home: a global overview
Smart home : connected appliances categories
Smart home category: wireless speakers
Compositions of smart home
The importance of smart home
The importance of smart home
Global survey on smart home
Case study: China
Case study: US
Case study: South Korea
The impact of COVID-19 on smart home
SWOT analysis of smart home

Smart City

Smart city: a global overview
Smart city systems can be applied across various industries
Numerous real-life examples of smart cities at play
Government strategy should revolve around partnerships
Public-private partnership models come in various forms
Steps for a smart city data strategy
Key future trends in smart cities
Data challenges can suppress smart city growth
Hesitance about data sharing mainly in developed economies
Case study: China
Case study: US
Case study: South Korea
COVID-19 will push forward smart city agenda
SWOT analysis of smart cities

Conclusion

Conclusion
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