In terms of strategy and execution, Cisco and Siemens are identified as the leading smart city suppliers
Tech giants Cisco and Siemens have been ranked as the leading smart city providers, according to new research.
The latest leaderboard report from Navigant Research examines the strategy and execution of 16 smart city suppliers.
The report, Navigant Research Leaderboard: Smart City Suppliers, forecasts the global market for smart city solutions and services will grow from $40.1bn in 2017 to $94.2bn 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, the report states.
“Cisco and Siemens’ leader position is a reflection of how both companies have continued to evolve and adapt their city offerings,” said Eric Woods, research director at Navigant Research.
“They have also shown an integrated perspective on urban innovation, strong sector-specific solutions, and a commitment to continued thought leadership and city engagement.”
Drivers behind the smart city market include some of the most challenging global developments, including continued growth in urbanisation, 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 report sets out to examine the strategy and execution of 16 leading smart city suppliers with the capacity to provide leadership on large-scale smart city projects spanning multiple operational and service areas.
These smart city suppliers are rated on 10 criteria: vision; go-to-market strategy; partners; product strategy; geographic reach; market presence; sales and marketing; product performance and features; product integration; and staying power.
Navigant said using its proprietary leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the growing global smart city market.
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