The developed concept of a livable Smart City emphasizes the importance of functionality and integrated resilience in future-oriented cities. The ongoing digitalization is critically examined, and the revolutionized energy sector is recognized as the foundation of urban life. The concept places people and the natural environment at the center of consideration, resulting in an expanded definition of sustainability and an enhanced product theory. Smart City 2.0 is a space of opportunities for its residents and an attractive future market for innovative products and services, yet it presents various challenges for stakeholders and product developers.