Aptworks Solutions Private Limited

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Enterprise-Grade ERP Solution for SMART Cities, Municipalities & Ulta-Local Bodies

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The global market for smart city information and communications technology (ICT) is forecasted to hit the $994.6 billion mark by 2023 from $476.7 billion in 2018, representing a compound annual growth rate (CAGR) of 15.8%, a report by BCC research showed.

The report attributed the exponential expansion to the rising number of smart cities worldwide in light of the rapid urbanisation rate, booming population, and calls for sustainable development. Asia-Pacific will experience the highest growth at 18.9% CAGR, the report said. In MENA region, a separate study conducted by KPMG revealed that smart city spending will double from $1.3 billion to $2.7 billion by 2022.

Geospatial and 5G technologies as well as virtual reality and augmented reality will also play a role in enabling the growth of smart cities and are seen as fundamental backbones of smart city projects.

Barcelona, one of the world’s best smart cities along with Singapore and London as per the report of Philips Lighting released in 2018, is said to have been reaping the benefits of deploying IoT solutions. According to the report, the implementation led to the creation of an estimated 47,000 jobs, savings of EUR 42.5 million on water, and increased revenues of EUR 36.5 million a year through smart parking fees.

Future Cities aka Smart cities will be a delicate alliances between tech companies, city planners, municipal & national bureaucracies and citizen groups that undergird successful urban development.will need to focus on five leading smart city solutions:

  • AI,
  • Blockchain,
  • Smart infrastructure,
  • Smart mobility, and
  • Sustainability.

Accurate, real-time insights will help cities improve the citizen experience. Following are the 5 focus areas while deploying ERP for Future Cities:

  1. Drive transparent and cost-effective resource allocation in  a  data-driven innovation framework@Governance
    • Accounting and Financial Close
    • Accounts Payable and Receivable
    • City Analytics
    • Governance, Risk, and Compliance
    • Policy, Strategy, and Transparency
    • Public Sector Budget Operations
    • Real Estate Management 
    • Treasury Management
  2. Implement a condition framework to foster local economic growth and welfare@Economy
    • City Business Services
    • Contributions, Revenue, and Taxes
    • Economic Engagement and Participation
    • Grants, Donations, and Incentives
  3. Manage environmental natural and structural resource challenges@Environment and Infrastructure
    • Asset Intelligence and Maintenance
    • Collection Logistics and Environment Services Planning
    • Energy and Utilities
    • Intelligent Asset Management
    • Land, Housing, and Buildings
    • Meter Reading and Energy Data Management
    • Mobile Asset Management
    • Project Management and Collaboration
    • Sustainable Communities
    • Virtual Design and Construction
  4. Enable the mobility of people and goods within and between ecosystems@Citizen Mobility
    • Mobility as a Service
    • Network and Route Performance Management
    • Smart Traffic
  5. Improve people’s health, education, lives, and living conditions fostering citizenship@Citizen Living
    • Care Delivery
    • Digital Experience
    • Healthcare Services
    • Program Planning and Management
    • Public Safety and Security
    • Social Protection