The potential impact of smart city initiatives is colossal. PwC pegged it as a $2.5 trillion opportunity by 2025. But getting projects greenlit for long term deployment can be quite difficult, especially with budget shortfalls. A successful deployment of a smart city project near Sydney, Australia, can be instructive for how local governments can get the ball rolling.
Parramatta is a major commercial suburb of Sydney, and the second-oldest city in the country. Following the Great Recession, a large pharmaceutical company moved out of town, leading developers to propose building a large housing complex on the former campus. When neighbors raised concerns about the impact of construction noise and dust in the heart of the city, planners required the developers to deploy a series of sensors to monitor air quality and noise levels.