The latest report from Navigant Research has found 250 smart city projects in 178 cities worldwide.
Technological improvements and decreasing costs in sensor technology have led to better performing, more efficient, and cheaper smart city technologies. This, in turn, has led Navigant to conclude that the global market for smart city services and technologies will grow by 57.8 billion dollars by 2026.
“Cities are moving beyond the publication of government open data policies to the exploitation of a wide range of data sources and the establishment of city platforms for information sharing and use of analytics.”, said Navigant Research analyst Christina Jung.
The report, titled “Smart City Tracker 1Q17”, covers five crucial industry sectors that relate to smart city projects: Smart buildings, smart water, smart energy, smart government, and smart transportation, and also looks across these sectors for certain projects that cover multiple facets of operations within a city.