HomeInternet of Things (IoT)Global smart-city platform market to reach $755m by 2027, claims report

Global smart-city platform market to reach $755m by 2027, claims report

The global market for smart city platforms will reach $755 million by 2027, according to new research, and enable cities to deliver services to their citizens in the manner of internet giants like Uber, Airbnb, Amazon, Google, and Facebook.

Smart city platforms provide the cities with a means to coordinate data, applications, and services across operational domains for multiple stakeholders, said Navigant Research, which presents the findings in a new report.

The concept combines an ambitious vision for the integration of urban services and the more pragmatic development of foundational layers that will enable that vision.

Changes in business and service models are driving the need for city platforms as much as technological development.

Eric Woods, research director at Navigant Research, said: “City platforms enable continuous service and technology innovation and allow cities to adapt to a world where platform offerings dominate many business areas.

“Developing the right platforms will be key to building the partnerships cities need to ensure that their economies, environment, and services are fit for the future.”

City leaders must develop a platform strategy based on core principles for openness, use of standards, and alignment with other technology and business programmes, said Navigant.

“Technology and service partners need to work closely with cities to develop solutions tailored to local needs and to support them through service transformation,” it said.

The report examines the evolution of the smart-city platform market, and makes forecasts for solutions according to their type and region through to 2027.

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