As the benefits of smart cities become clearer, the number of projects and partnerships supporting the cause is rapidly increasing. In the last few years, city leaders, central government ministries, and technology and service suppliers have announced a range of new smart city initiatives, incentives, and product and service offerings, while more cities are moving from one specific technology interest to a broader range of solutions that have multiple applications. According to a new report from Navigant Research, Smart City Tracker 4Q15, the total number of identified smart city projects has grown from 170 in the third quarter of 2013 to 235.
“The expansion of smart city projects is happening not only in terms of the quantity of projects being developed, but also in relation to the level and variety of integration being pursued,” says Ryan Citron, research analyst with Navigant Research. “This expansion is expected to increase as governments continue to recognize the tremendous associated benefits of smart cities, including improved economic opportunity, sustainability, and quality of life.”
Continued investment in technologies and policies such as smart grids, networked light-emitting diode (LED) street lights, urban mobility, climate action plans, open data platforms, water management, and smart parking systems represent a growing market for smart cities, according to the report. In addition, an increase in innovations from suppliers in terms of the product and solution offerings, as well as the partnerships they are forming with cities and other stakeholders, is expected to further propel the industry’s growth.
Smart City Tracker 4Q15 provides an assessment of the current state of smart city development around the globe. The report covers five key industry sectors as they relate to smart cities: smart energy, smart water, smart transportation, smart buildings, and smart government. It also looks across these sectors at projects that address multiple aspects of city operations. The 235 projects included are segmented by region and by primary industry sector. Roughly 85% of the projects are focused on issues related to energy, transportation, or government.
An Executive Summary of the report is available for free download on the Navigant Research website.