Smart Cities Market Will Explode Over Next Five Years

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Smart Cities Market Will Explode Over Next Five Years

Published: Mon 16 February 2015 | by Martin Wiesner

When we talk about technology, we hear the word "smart" thrown around an awful lot. But what is it that separates smart technology from the technology that came before it? To get the answer, we can't just talk in terms of quantifiable intelligence-sorry, your thermostat can't do your Algebra homework for you-but in real world application. Smart, in that sense, simply means better. Better equipped, better connected, and better maintained.

As connectivity enablement platforms continue to evolve and expand, it's time to look beyond individual devices and start considering what a future with millions of data points and connections interacting seamlessly and simultaneously might look like. According to a new report from Research and Markets, that future may be a lot closer to realization than previously thought. By the year 2019, the smart cities market is expected to exceed the $1,000 billion mark by a large margin, up from $411.31 billion in 2014 thanks to a healthy growth rate of 22.5% over the forecast period.

The report surmises that as environmental concerns and regulations increase, governments will continue to look to more sustainable infrastructure in the home, in business, and in transportation. Smart energy management at home relies heavily on new and proficient technologies like those that power the latest smart meters. With enhanced outage management and restoration features, and the ability to quickly, and easily integrate new resources into the grid, it's only a matter of time before our homes are truly connected.

With a connectivity enablement platform like IoT-X from Stream, wireless operators can get to market quickly in regions where smart cities are popping up, allowing them to grab market share and increase revenue. While many traditional IoT platforms carry excessive risk and associated costs, IoT-X is different. Stream's been steadfast in its M2M/IoT offerings for over a decade, and its platform is the most accessible and cost effective solution on the market.

Together, that is a difficult combination to beat.

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