SUMMARY As the role of wireless communication is becoming more important for realizing a future connected society for not only humans but also things, spectrum scarcity is becoming severe, because of the huge numbers of mobile terminals and many types of applications in use. In order to realize sustainable wireless connection under limited spectrum resources in a future wireless world, a new dynamic spectrum management scheme should be developed that considers the surrounding radio environment and user preferences. In this paper, we discuss a new spectrum utilization framework for a future wireless world called the "smart spectrum." There are four main issues related to realizing the smart spectrum. First, in order to recognize the spectrum environment accurately, spectrum measurement is an important technology. Second, spectrum modeling for estimating the spectrum usage and the spectrum environment by using measurement results is required for designing wireless parameters for dynamic spectrum use in a shared spectrum environment. Third, in order to effectively gather the measurement results and provide the spectrum information to users, a measurement-based spectrum database can be used. Finally, smart spectrum management that operates in combination with a spectrum database is required for realizing efficient and organized dynamic spectrum utilization. In this paper, we discuss the concept of the smart spectrum, fundamental research studies of the smart spectrum, and the direction of development of the smart spectrum for targeting the future wireless world. key words: smart spectrum, spectrum measurement, spectrum usage modeling, spectrum database, spectrum management