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Transportation and energy lead the way in ‘Smart City’ projects

According to a new report, ‘Smart City’ projects launched across the globe are driving the creation of new sources and types of data, as well as enabling technologies and ways of consuming data. These factors are boosting the prospects of Information and Communications Technology (ICT) providers that offer big data analytics software, open data platforms, cloud computing, and broadband connectivity services. Recent analysis from Frost & Sullivan in its ‘The Role of ICT in Building Smart Cities – Infrastructure’ report, focuses on the ICT investment outlook in the smart energy, transportation, and water segments. Smart energy and transportation are currently top research priorities, and will prove to be the main growth areas for ICT providers.

“Smart transportation is receiving the most attention in cities across the globe and hence opening up the maximum opportunities for ICT providers,” noted Frost & Sullivan ICT research analyst, Ewa Tajer. “ICT providers should particularly tap the large European cities, where numerous tenders for intelligent transportation systems (ITS) are being issued and novel functionalities are expected to be introduced to reduce traffic congestion, noise and pollution.” The smart energy segment, presently in an early development stage, as energy companies look to build a business case for smart grids, is also heightening the demand for ICT. The report suggests that the smart energy market value is likely to exceed the smart transportation market value by 15 to 20% in 2020. Unlike the smart transportation and energy segments, there are limited opportunities for ICT providers in the smart water segment due to a lack of proper standards, poor regulatory support, and inadequate project financing.

The report says the problems that ICT companies will have to contend with are the fragmented implementation of smart city projects, as a result of poor cross-sector coordination and cooperation between different stakeholders. Other restraints are: the unwillingness of some stakeholders to test new technologies; the limited involvement of local authorities; and the lack of a holistic vision when deploying smart technologies. Tajer commented, “ICT providers, acting as trusted advisors, should work with city stakeholders to help create a robust smart city vision and implementation plan that will ensure a key role for them in regions looking to build a more sustainable future.”

June 6, 2014

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