Navigant: Global market for smart city platforms to reach $755M by 2027

Tuesday September 18, 2018 0 comments Tags: Boulder, Navigant Research, smart cities, Eric Woods

BOULDER -- The global market for smart city platforms is expected to reach $755 million by 2027, according to a new report from Navigant Research.

The report examines the evolution of the global smart city platform market, providing forecasts, segmented by solution type, region, and software and services, through 2027.NavigantNEWlogoUSE

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,” said Eric Woods, Navigant research director.

“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 reportSmart 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.

An Executive Summary of the report is available for free download on the Navigant website.