A new report has named the leading smart city suppliers, including Cisco and Siemens, which nabbed the number one and two spots, respectively.
The drivers behind the smart city market include some of the most challenging global developments, including continued growth in urbanization, the need to reduce city emissions and better manage resource consumption, and growing economic and environmental pressure on cities. These developments are entangled with rapid technology development in complex ways that present many opportunities for suppliers and cities.
The top 10 vendors are:
- Cisco
- Siemens
- Microsoft
- IBM
- Hitachi
- Huawei
- SAP
- Panasonic
- Ericsson
- GE
According to Navigant Research, the global market for smart city solutions and services is expected to grow from $40.1 billion in 2017 to $94.2 billion by 2026. Suppliers looking to succeed in this market can follow market contenders, which are putting more pressure on leaders with a growing focus on the development of Internet of Things (IoT) platforms for urban innovation.
Cisco has long been a proponent of sustainability. Last year, Kathleen Shaver, the Director of Value Protection for Cisco, wrote that the company is tackling carbon reduction in its fully outsourced supply chain. Last year, she wrote, the company launched the Integrated Greenhouse Gas Reduction Program, which enabled the company to help its supply chain cut emissions. The long-term “Scope 3” plan set the stage for emissions reductions forecasting and goal setting. In short, it helps the company work closely with its supply chain to understand — and to the greatest extent possible, control — the variables to emission reductions.
As for Siemens, the company recently announced it will offer no-money-down financing options for the purchase of energy storage systems among its commercial and industrial customers in the UK, offered by Siemens Financial Services.
The company is turning to an “outcome-based” finance model for Siemens-branded Siestorage energy storage systems. Such systems are available to electricity users with electricity demand of between 1MW and 100MW.
Vendors mentioned in this article:
- Cisco
- Siemens
- Microsoft
- IBM
- Hitachi
- Huawei
- SAP
- Panasonic
- Ericsson
- GE