By 2050, 66% of the global population will be urbanized, with 6.4 billion people living in urban centers; a sharp increase from the 3.9 billion people who inhabit cities today. Such increasing rates of urbanization threaten to aggravate the economic, environmental and social impacts on an already stressed infrastructure. For instance, the economic cost of congestion in and around urban areas in the US is projected to reach $186 billion annually by 2030. This is a huge number and has pushed experts to predict that year 2016 will see more cities being “smartified” – either by upgrading the existing the ones with intelligent infrastructure or by building them right from scratch.
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