The growth of sensor-equipped devices is creating an enormous volume of data, which will need to be processed in order to make the smart cities more useful. In addition to analyzing the amount of data generated, smart cities must also determine how to protect it and use it effectively. Smart city technology is a key component of creating a positive social environment for citizens, and incorporating it into infrastructure and other city assets is a must. While smart cities may have great benefits for cities, many challenges remain. One of these is the lack of funding. A smart city initiative may be funded by government, industry, or both. Industry initiatives may focus on smart cities in general or on specific aspects of ecology. A city can also get funding for an IoT solution if it is easy to scale and integrate. Governments and organizations should focus on making smart city initiatives easy to maintain, scale, and integrate. They should also be flexible and easily replaceable with new IoT solutions.

Smart cities may be filled with millions of sensors, connect local government and citizens instantly, and improve public services. Today, dozens of urban centers are building smart cities with a goal of improving city life, making the urban environment safer and more livable, and minimizing carbon emissions. Some even claim smart cities could save lives. But the question is how can we make a city smart? Smart cities can make the process much more effective. Smart cities can also help citizens achieve their goals by leveraging these technologies to improve quality of life and access to information.

IoT-based smart cities can deploy a layered intelligent car parking system that consists of three tiers. First, the web applications will collect data and serialize it into a Hadoop center. Second, the web servers tier will dynamically register applications on an OSGi framework. And third, the smart cities will use eco-friendly energy. It will be important to think about these three layers before choosing a technology for your smart city.

While the potential of smart cities is still far from real, the opportunity for business is largely obvious. With the emergence of smart technologies, a $1.5T market is expected to grow. As technology improves, so do the potential profit margins. A recent smart city conference held in Barcelona, Spain, discussed how the smart city industry can benefit the business community and citizens. However, the technology alone cannot create the change that will make cities smart. The key is to understand and utilize the emerging technologies and how they will impact the urban environment.

Deploying smart technologies in cities will reduce fatalities from fires, road traffic, and other incidents by as much as eight percent. This means an immediate reduction of about 300 lives every year. Smart cities also improve the health and safety of citizens. According to McKinsey, the deployment of smart city technologies could even reduce crime by 30-40 percent. These improvements can give people the peace of mind they need to move freely and safely.

The impact of epidemics on cities has changed cities throughout history. The Spanish flu in 1918 forced cities to upgrade their sanitation systems. Similarly, the outbreak of cholera in London in 1850 resulted in the construction of a sewer network. Building ventilation standards improved as a result of the Spanish flu. As cities implement smart city technologies, the COVID-19 pandemic presents a new whiteboard moment. By harnessing technology and data analytics, modern cities can create healthier, more sustainable environments.