New Report Analyzes Evolution of Smart Cities

by | Sep 11, 2018


A new report from Navigant Research examines the evolution of the global smart city platform market, providing forecasts, segmented by solution type, region, software and services through 2027.

Driven by Internet of Things (IoT) deployments, as well as other smart technologies, smart city platforms provide the integrated capability to coordinate data, applications and services at one or more levels across operational domains for multiple stakeholders. The concept combines an ambitious vision for the integration of urban services and the more pragmatic development of foundational layers that will enable that vision.

“City platforms enable continuous service and technology innovation and allow cities to adapt to a world where platform offerings dominate many business areas,” says Eric Woods, research director with Navigant Research. “Developing the right platforms will be key to building the partnerships cities need to ensure that their economies, environment, and services are fit for the future.”

According to the report, cities need to develop capabilities that enable them to manage resources and deliver services in the world shaped by platforms such as Uber, Airbnb, Amazon, Google and Facebook. Navigant Research recommends that city leaders develop a platform strategy based on core principles for openness, use of standards, and alignment with other technology and business programs. Technology and service partners need to work closely with cities to develop solutions tailored to local needs and to support them through service transformation.

The report, “Smart City Platforms,” examines the evolution of the global smart city platform market. The study analyzes global trends, early deployments and specific supplier offerings related to smart city platforms. Global market forecasts, segmented by software and services, solution type and region, extend through 2027. The report also examines the key market drivers and challenges related to smart city platforms, as well as the competitive landscape.

In February, the New Orleans City Council’s Utility, Cable, Telecommunications, and Technology Committee unanimously passed a resolution to explore a “smart city” approach that could include grid modernization and energy-efficient buildings.

Smart cities have taken off in recent years around the world, defined by their highly integrated approach to technology. In New Orleans, City Councilmembers say they see the potential for cutting-edge advances in energy generation and management, wireless communications, high-speed data analysis and transfer, water, and transportation management.

And in April, experts anticipate that smart cities will create huge business opportunities with a global market value of over $2 trillion by 2025, according to Frost & Sullivan.

Artificial intelligence, personalized healthcare, robotics and distributed energy generation are among the technologies that will drive growth, efficiency, connectivity, and urbanization in the future, according to the firm’s studies.

“The creation of smart cities enables a smooth transition to urbanization, with technological advances helping municipalities optimize resources for maximum value to the population, whether that value is financial, savings in time, or improvement in quality of life,” the analysts say.


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