Dive Summary:
- Market research and analysis firm Frost & Sullivan estimates the global smart cities market will reach $3.3 trillion by 2025.
- "The penetration of smart city market for service providers will depend on how quickly these companies converge and tap into each other's industry value chains and assume multiple roles in the eco-system. Big data analytics, cloud-based services, and M2M enabled services that intelligently provide real-time inputs hold the potential to adequately provide smart solutions. Converged business models between utility and technology providers are in a unique position to offer these integrated services," Archana Amarnath, Program Manager of the Visionary Innovation Research Group at Frost & Sullivan, noted.
From the article:
"Smart cities will be measured on the level of intelligence and integration of infrastructure. Modern cities are hubs for smart devices such as the internet, smart phones, cloud computing, social networks and iPads. What makes a Smart City differ is its emphasis on creating connections and systems, not only between millions of smart devices, but also between businesses, public sector, knowledge institutions, and inhabitants of the city," adds Ms. Vidyasekar.