Future Growth Potential Through Connected, Autonomous, Shared, and Electric (C.A.S.E.) Strategy Driving Growth Opportunities
Rapid urbanization, private vehicle density, outdated infrastructure, and transportation-related emissions are increasingly stressing the urban mobility ecosystem. Cities globally are responding to these changes by developing a more sustainable, seamless, and integrated transportation system. Additionally, cities are focusing on building the necessary regulatory and infrastructure frameworks to support smart mobility systems. Other smart city focus areas revolve around the theme of driving future employment opportunities, developing equitable communities, and offering a high standard of living through efficient digital and connected services. Smart city initiatives can be measured under several channels, like new mobility solutions, autonomous readiness, digitization, sustainability, logistics performance, policy and regulatory frameworks, and transportation landscape and vision.
The geographical scope of this study focuses on London as a smart city. This study aims to analyze the the city’s current state, key challenges facing it, and the government’s strategy and measures to overcome these challenges and create a sustainable environment for driving future economic growth.
London currently faces several challenges, and as one of the globally recognized key economic hubs, its city center faces risks that policymakers are trying to overcome on priority.
The city's challenges are also distributed, ranging from residents population growth to tourist population expansion.
London's total land area is less than 0.5% of the UK’s size, but the city contributes to over 10% of the country's economic output. This is complemented by the city's complex underlying operational fabric. Hence, developing a sound strategy with a holistic view of risks vs returns needs critical analysis - while it improves or addresses a particular challenge, it may negatively impact another area. Additionally, the effects of Brexit and COVID-19 are also becoming stumbling blocks for the city, adding to its economic challenges besides driving behavioral shifts amongst its population.
This concise profile of London highlights key growth metrics, the city’s current state, COVID-19’s impact on city mobility, the city's digital economy, initiatives toward smart city mobility and EV strategy, and the focus on sustainable mobility through the enhancement of public transit systems and infrastructure.
The city and its authorities are actively addressing need-of-the-hour challenges while focusing on longer-term sustainable goals following the Mayor's vision. The city is also embracing the dynamic mobility services changes with the emergence of connected, shared, autonomous, and electric mobility approaches. It actively invests in digital infrastructure while creating an environment of collaboration with other leading cities, industry consortiums, and financial investors.
