Smart city market to reach $3.3 trillion by 2025
By: SGN Staff
Quick Take: The headline of the press release below talks about which smart city sectors will see rapid growth. And the first sentence talks about the potential to hit $3.3 trillion by 2025.
As great as those things are, I think there are even more important tidbits tucked inside:
- New funding mechanisms are essential and they are starting to appear
- Partnering is a crucial success factor, as we already heard from Laurent Schmitt of Alstom, a Smart Cities Council Lead Partner, during a recent Q&A on Alstom's smart city game plan
- Utilities will play a pivotal role in creating the necessary integrated services, something some vendors and most utilities still haven't figured out
- The crux of a smart city is the interconnectedness between departments and between cities and citizens, not merely the level of technology in any single department
See the bottom of the release for the opportunity to view a Sept. 5 webinar. This story is reprinted from the Smart Cities Council. - By Jesse Berst
Frost & Sullivan: Connected and Intelligent Infrastructure, e-Government Services, and Smart Security Solutions to Drive Smart City Market
Global Opportunity in Smart City Market to Total $3.3 Trillion by 2025
LONDON, Aug. 26, 2013 /PRNewswire/ -- New analysis from Frost & Sullivan reveals a $3.3 trillion market potential in smart cities by 2025 with multiple opportunities to tap into infrastructure development, technology integration, and energy and security services.
Frost & Sullivan will be organising a web conference providing an analysis of the smart city market discussing the market opportunity, growth areas, and new business models on Thursday, 5 September 2013, at 16.00 BST. Senior Partner, Sarwant Singh, Program Manager, Archana Amarnath, and Team Leader, Archana Vidyasekar, will facilitate the discussion along with IBM Vice, President Karen Parrish, and other key industry players.
The briefing will provide insights into the competitive landscape highlighting the next game changers in the market throwing light on the growing complexity of the smart city value chain and the multiple roles key strategic partners can take within the eco-system.
The session will look into how utility providers, infrastructure companies, system integrators and telecom operators are actively pursuing this market adding more layers of intelligence as either integrators offering pre-packaged bundled solutions or as product vendors offering intelligent hardware and infrastructure. The briefing will also look into opportunities in managed services as management / operation of smart solutions / services become equally important for long-term sustainability.