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Pictet-SmartCity

City of the Future

September 2019

A day in the life of a SmartCity

Our world is changing: sensors high-tech materials and better data are helping architects and city planners work smarter - changing the way we live in cities.

With half of the world’s population living in urban areas, cities are learning to become more sustainable and improve their residents' quality of life. Let's follow a typical city dweller through his day to learn how.

Mark is a 34 year-old freelancer working and living in one of today’s smart cities.

8.15 am - The sharing society

On a usual Monday morning, Mark is in a rush for work. To save time and avoid the crowds on public transport, he uses a car-sharing app that gets him to work in only 15 minutes. 
did you know fact about car sharing

Importance of sharing economy in the mobility sector.
[1] BCG analysis, 2016
[2] Source: Deloitte, 2017 

9.00 am - Coffee time goes contactless

Mark can’t start his day without a coffee. He rarely caries cash with him so pays using his contactless card.

global contactless payments market fact

Global contactless payments market growth.
[1] Allied Market Research, Global Opportunity Analysis and Industry Forecast, 2017–2023, July 2017

9.15 am - Let the day begin

Mark is one of the growing hordes of workers sharing a flexible office. Being a freelancer he is used to changing offices every few weeks so he can be near his clients.

Co-working spaces industry in numbers

Co-working spaces industry in numbers.
Source: Instant proprietary data, Deskmag '2018 Global Coworking Forecast'

12.30 pm - Feeling peckish

Lunch time arrives. Mark is busy in meetings so orders Vietnamese food online. A wide choice of options is available with some delivery services offering meals from over 60 restaurants1.
Food delivery sales market market size

Food delivery sales market market size.
[1] Example taken from Just Eat platform, March 2019 
[2] UBS, 2018

6pm - Gym time

After a long day at work, Mark goes to the gym to get a quick sweat on before heading back home. Mark goes to one of the UK’s 7000 gyms1
Global gym and health clubs market growth

Global gym and health clubs market growth.
[1] Leisuredb, 2018 State of the UK Fitness Industry Report, May 2018
[2] Technavio, 2017
[3] SBWire, 10/08/2018

6.30 pm - The changing face of commuting

Mark’s journey to the office may change drastically in a few years, as alternatives to car ownership become available to commuters. Today, Mark chooses to try a driverless vehicle to go home. He orders the service and pays with his phone. Deloitte estimates that by 2040, over 60 percent of passenger miles could be in autonomous vehicles1.  
global driversless vehicles market

Connected and Autonomous Vehicles in the UK.
[1] Deloitte, 2019
[2] Bloomberg, June 2018

7.30 pm - Someone at the door?

New technologies and supply chains are making same-day delivery the standard. Last night, Mark spotted the perfect lamp for his bathroom and the company offered a speedy delivery service. While preparing dinner, a drone dropped the package at his apartment's front door. Time to install the new lamp! The logistics to cover the “last mile” to his doorstep are an enormous business and critical for transportation companies.
Commercial drones impact on the United States' GDP

Commercial drones impact on the United States' GDP.
Source: McKinsey&Company, 2017  

What is the future of Smart Cities?

Mark’s story highlights just a few of the many ways our cities are changing. Around us, the city of the future has already arrived. But this is just the beginning. An estimated USD 717.2bn is expected to be spent on smart cities by 20231. This is more than Switzerland's GDP in 20182.

An estimated USD 717.2bn is expected to be spent on smart cities by 2023.

— Markets and Markets, January 2019

The urbanisation challenge require cities to find smarter solutions to meet the needs of their residents. We believe that companies using innovative technologies to build, run and manage cities better and more sustainably represent strong investment opportunities. This growing universe needs to be captured today, before the cities of tomorrow become today’s cities.

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