When most people speak about smart cities, they often imagine a futuristic metropolis, as depicted in movies and television. In reality, smart cities will be the product of the ongoing and gradual evolution of information technologies, with which we are already familiar in our everyday lives and will not look much different than they do today.
The smart city market is projected to grow from $81 billion globally in 2018 to over $158 billion in 2022, according to IDC’s Worldwide Semiannual Smart Cities Spending Guide. In a smart city, internet of things (IoT) networks can be deployed to create applications that will change the manner in which residents coexist with technology. Soon, parking structures will tell drivers which spots are open, smart outdoor lamps will automatically adjust for weather and climate conditions and green buildings will be able to monitor air quality and optimise energy consumption. The IoT will enable us to constantly sense and process information from the outside world in an effort to bring efficiency to everyday life in a city.
Golden Saint Technologies (LON:GST) builds on the profitable ICT business of its Singaporean subsidiary EMS Wiring Systems, which has been supplying governments and large private organisations with intelligent building solutions for the last 28 years. GST’s strategy is to develop solutions to meet the needs of the ICT industry, acting on the surging opportunities in the technology and innovation sectors – Data Centres, Intelligent Buildings, Smart Cities and the Internet of Things – and particularly targeting emerging markets where the demand for ICT infrastructure is rapidly increasing.