By 2050, two out of three people will live in urban areas, according to United Nations population experts. IDC predicts that by 2024, spending by smart cities and communities will reach $203 billion with focused areas of investment, such as public safety, civic engagement, and smart city platforms. A true smart city is made up of an ecosystem where all participants – from the private and public sectors to non-governmental organizations (NGOs) to citizens – benefit and gain value from investments.