BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the current state of global smart city development, covering the related aspects of the smart energy, smart water, smart transportation, smart buildings, and smart governments sectors, segmented by region.
As the benefits of smart cities become clearer, the number of projects and partnerships supporting the cause is rapidly increasing. In the last few years, city leaders, central government ministries, and technology and service suppliers have announced a range of new smart city initiatives, incentives, and product and service offerings, while more cities are moving from one specific technology interest to a broader range of solutions that have multiple applications. Click to tweet: According to a new report from Navigant Research, the total number of identified smart city projects has grown from 170 in the third quarter of 2013 to 235 today.
“The expansion of smart city projects is happening not only in terms of the quantity of projects being developed, but also in relation to the level and variety of integration being pursued,” says Ryan Citron, research analyst with Navigant Research. “This expansion is expected to increase as governments continue to recognize the tremendous associated benefits of smart cities, including improved economic opportunity, sustainability, and quality of life.”
Continued investment in technologies and policies such as smart grids, networked light-emitting diode (LED) street lights, urban mobility, climate action plans, open data platforms, water management, and smart parking systems represent a growing market for smart cities, according to the report. In addition, an increase in innovations from suppliers in terms of the product and solution offerings, as well as the partnerships they are forming with cities and other stakeholders, is expected to further propel the industry’s growth.
The report, Smart City Tracker 4Q15, provides an assessment of the current state of smart city development around the globe. The report covers five key industry sectors as they relate to smart cities: smart energy, smart water, smart transportation, smart buildings, and smart government. It also looks across these sectors at projects that address multiple aspects of city operations. The 235 projects included in this Tracker are segmented by region and by primary industry sector. Roughly 85% of the projects are focused on issues related to energy, transportation, or government. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is an independent specialized, global professional services firm that combines deep industry knowledge with technical expertise to enable companies to defend, protect and create value. With a focus on industries and clients facing transformational change and significant regulatory and legal issues, the Firm serves clients primarily in the healthcare, energy and financial services sectors which represent highly complex market and regulatory environments. Professional service offerings include strategic, financial, operational, technology, risk management, compliance, investigative solutions, dispute resolutions services and business process management services. The Firm provides services to companies, legal counsel and governmental agencies. The business is organized in four reporting segments – Disputes, Investigations & Economics; Financial, Risk & Compliance; Healthcare; and Energy. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Smart City Tracker 4Q15, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.