Report focuses on five main sectors smart energy, smart water, smart mobility, smart buildings, and smart government
The global market for smart city communication networks is expected to increase annually from $5.8bn in 2018 to $13.4bn in 2027, according to a new report from Navigant Research.
Smart City Communication Networks Market Overview analyses the challenges and opportunities for smart city communication networks, with a focus on the five main sectors: smart energy; smart water; smart mobility; smart buildings; and smart government.
It explores the market issues and dynamics associated with smart city communications and covers the viewpoint of communication service providers, communication infrastructure vendors, IT vendors, and city governments.
The evolution of communication networks, which connect the sensors, controllers, cameras, and other hardware infrastructure capturing valuable data from the city environment, serves as a fundamental building block for further market development, the report stated.
As the global smart city market moves into a period of increasing maturity, a growing focus on underlying communication networks is presenting more options for a variety of use cases, each meeting unique connectivity needs
According to the report, a wide range of communication network options exist, including fibre, radio frequency (RF) mesh, cellular, wi-fi, power line communications (PLC), and low power wide area networks (LPWANs) such as LoRa and Sigfox.
With the Internet of Things (IoT) market set to expand over the next 10 years, the market research and benchmarking services firm stresses the need for continued evolution of these networks and increasing interest in emerging cellular offerings such as 5G networks, narrowband IoT (NB-IoT), and LTE-Cat-M1.
“Ultimately, cities will need several different types of communication networks to execute on any comprehensive smart city strategy,” said Ryan Citron, senior research analyst with Navigant Research.
“While there will be space in the market for many connectivity options to coexist, all stakeholders should recognise the importance that 5G networks will take on in the coming decades, particularly if emerging low power cellular options are recognised as part of the 5G portfolio.”
The report also examines the key communication technologies related to smart city communication infrastructure, as well as the competitive landscape and includes global market forecasts, segmented by region and industry sector that extend through to 2027.
If you like this, you might be interested in the following:
Cisco and Siemens named top smart city vendors
In terms of strategy and execution, Cisco and Siemens are identified as the leading smart city suppliers
Global smart building market to exceed $10bn by 2026
Smart cities are looking to smart building technologies to drive impactful changes in facilities management
Navigant augments its sustainable credentials
Consultancy aims to help public/private organisations and governments respond to the global transformation taking place within the energy sector