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New York, December 1, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announced the release of the report “Smart City Platform Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)”- https://www.reportlinker.com/p06187418/?utm_source=GNW
These systems can include various facilities, such as building automation systems, intelligent transportation systems, intelligent lighting systems, security and control systems, smart grids, renewable energy, water treatment and supply, etc.
Main highlights
Due to urbanization, smart cities are developing on a global scale, which promotes growth. According to United Nations projections, by 2050, India will have 404 million, China will have 292 million, and Nigeria will have 212 million urban residents.
Due to the scalability and integration of other smart solutions, compared with independent smart solutions, government initiatives and expenditures also place more emphasis on platform providers. According to the Consumer Technology Association, global spending on smart cities is expected to reach US$34.35 billion.
The smart city platform performs various functions such as analysis, remote asset monitoring, performance management, decision support or presentation components. Most technologically advanced cities are using IoT platforms to monitor urban infrastructure, manage everything from traffic flow and parking to water and air quality, and use the intelligent data generated to solve long-term planning decisions around environmental sustainability.
The smart city platform lays the foundation for city infrastructure, applications and services, and various city-specific functions. Due to the scalability and integration of other smart solutions, compared with independent smart solutions, one of the important factors that are expected to drive the growth of the urban market is to give priority to platform providers.
As smart city projects around the world continue to develop and accelerate, the main vision, technology, and basic reality have become layered and more complicated to deal with. In addition, in order to simplify these complexities, the market will witness a strong drive to use more intuitive processes, including greater use of machine learning solutions to collect and analyze large amounts of generated data.
COVID-19 has increased the need to invest in connectivity infrastructure and solutions to alleviate concerns about public health and safety. By providing real-time warnings about congestion, access issues, or delays, helping people make more informed public travel decisions, the demand for safe and reliable transportation and connected applications increases, making the system safer.
Main market trends
Smart governance has become the main application area
Smart governance is one of the characteristics of smart cities, accounting for 20.92% of the main share in 2020, and is expected to grow…
The full story can be found on Benzinga.com
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