A smart traffic management study published by Juniper Research forecasts there will be 16 million smart spaces globally by 2028, up from 5.8 million in 2024.
The research found that it is vital to deploy traffic analysis and systems at the earliest stage of city planning to avoid costly retrofits at a later point.
Study reveals number of connected vehicles will increase more than 90 per cent by 2027, with 5G accounting for almost a quarter of cellular connections.
Research identified metro and bus ticketing as the fastest-growing market segment, with transaction value set to rise by more than 200 per cent over the next five years.
Report identified environmental benefits from smart traffic management systems as being “highly compelling”, including significant reductions in congestion, and prioritising greener transport modes.
Up from 45 million buildings in 2022, it represents a growth rate of more than 150 per cent and reflects increasing demand for energy efficiency from businesses and residents alike.
As well as the Chinese city’s platform, other top cities in the ranking are showing how to leverage technology to deliver demonstrable benefits for their citizens.
Internet of medical things devices enable healthcare providers to use remote monitoring sensors and surgical robotics to improve patient care, staff productivity and operational efficiency.
With single-occupancy still a trend though, close collaboration by providers with city authorities may be required to make these services attractive in terms of cost and efficiency.
Research warns that until users trust the proposition of a subscription-based transport service, mobility-as-a-service platforms must ensure pricing models are flexible.
Juniper Research also predicts that open platform adoption would enable street lighting to act as a major hub point for additional smart city services.
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