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Dec. 4, 2012 /PRNewswire/ -- Frost & Sullivan is proud to present the 2012 Global Award for Company of the Year in the 'City as a Customer' market to Siemens Infrastructure and Cities Sector. This prestigious award recognizes a company's best practices in identifying global Mega Trends and their implications, and subsequently pioneering products and services to take a competitive lead in servicing this new client base and its unmet needs.
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The Visionary Innovation Research group of Frost & Sullivan conducts cutting-edge visionary research by tracking the most important global Mega Trends, potential scenarios of specific trends in 2020 and beyond, and the macro to micro implications of these trends.
The Visionary Innovation Research teams have conducted extensive work on urbanization, smart as well as sustainable cities, and have identified "City as a Customer" as a New Mega Trend that will force companies to re-organize their organization structure and strategy and create new white space market opportunities. This award category is to recognize best practices of those companies who have rightly identified "this trend and its implications and have accordingly pioneered products and services to take a competitive lead in servicing their existing and new client base with their unmet needs.
Cities in the future would have transformed from being a mere hub of economic activity and growth to being full-fledged customers, demanding highly customized, unique and innovative city concepts and infrastructure solutions. With 60 percent of population in urban areas, 35 Mega Cities, 21 Mega Regions, and 21 Mega Corridors by 2025 globally, Frost & Sullivan expects companies to be in a serious scramble to capitalize on the opportunities offered by burgeoning populace and global city infrastructure spending.