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Smart city platforms market to reach $755 million

It recommends leaders develop a platform strategy based on the core principles of openness, use of standards and alignment with other technology

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Technology and service partners are urged to work closely with cities to develop solutions
Technology and service partners are urged to work closely with cities to develop solutions

The global market for smart city platforms is forecast to reach $755m by 2027 driven by Internet of Things (IoT) deployments and changes in business and service models, a new report finds.

 

Smart city platforms provide the integrated capability to coordinate data, applications, and services at one or more levels across operational domains for multiple stakeholders.

 

Enabling the smart city vision

 

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.

 

According to the Smart City Platforms report from Navigant Research, 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.

 

“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, 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.”

"City platforms enable continuous service and technology innovation and allow cities to adapt to a world where platform offerings dominate many business areas”

Navigant Research recommends that city leaders develop a platform strategy based on core principles of openness, use of standards, and alignment with other technology and business programmes. 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 study analyses 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.

 

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