5 Key Insights from 350+ Smart City IoT Projects

Sponsored Article

Smart City IoT projects are becoming fundamental for city development. The EIP-SCC (European Innovation Partnership for Smart Cities and Communities), for example, is spending up to €1bn to develop 300 smart cities in Europe by the end of 2019. The opportunity is evident for IoT solution vendors – Smart City is now the #1 implementation area for IoT projects.

IoT Analytics recently launched its Smart City Research Series in order to provide market insights and strategic recommendations on how to engage with this complex sector. The Research Series explores different smart city applications such as:

The analysis shows that markets are growing, but at paces not necessarily comparable with other IoT sectors such as Connected Industry (CAGRs >30%). The Connected Street Lights market is expected to grow at a CAGR of 21% between 2018-2022 while the Smart Parking market is growing at a CAGR of 14% during the same period.
Considering the complex nature of Smart City IoT projects in public service areas, the growth rates are very promising. In most cases, projects are inspired by digital transformation policies of municipalities. However, as public sector organisations need to consider various city stakeholders (e.g., projects are subject to strong public accountability) the procurement process can be cumbersome and time consuming.
In this article we share 5 key insights emerging from the 350+ smart city IoT projects analysed.

  1. Sensor networks should be strategically designed with appropriate sensors for specific environments.
  2. LPWAN and 4G/5G are becoming the key connectivity choices for smart city applications.
  3. Software middleware tools are the central backbone to successful smart city IoT projects.
  4. Public-Private Partnerships (PPP) are the most dominant financial and operational modus operandi for smart city IoT projects.
  5. Main barriers to adoption of smart city IoT projects are not technology related.

For more details check out the full blog here.

 

Further Information

This article builds upon IoT-Analytics’ experience in smart city IoT projects. It also heavily relies on several IoT-Analytics’ reports.

  • If you are interested in Smart City IoT projects, the insights discussed in this article are based on details in the following reports:

Smart Parking Market Report 2019-2023

Connected Streetlights Market Report 2018-2023

  • If you want to expand your knowledge and understanding of LPWAN technologies and their role in smart city IoT projects, you can also look at the following report:

LPWAN Market Report 2018-2023

  • For a detailed analysis of IoT platforms and the IoT platform vendor landscape, please refer to the following reports:

IoT Platforms Market Report 2018-2023

IoT Platforms Vendor Comparison 2018

 

About IoT Analytics

IoT Analytics is a leading provider of market insights and strategic business intelligence for the Internet of Things (IoT), M2M, and Industry 4.0. More than 40,000 IoT decision makers rely on IoT Analytics’ data-driven market research every month.

 

For continued IoT coverage and updates, subscribe to our newsletter and follow us on Linkedin and Twitter to stay up-to-date on the latest trends shaping the IoT markets. For complete enterprise IoT coverage (Corporate Subscription) with access to all of IoT Analytics’ paid content and reports including dedicated analyst time, contact us now and tell us what you are specifically interested in.

RECENT ARTICLES

Surrey leads new £8 million FORT centre for advancing secure networks

Posted on: March 18, 2024

The Engineering and Physical Sciences Research Council (EPSRC) announced that Surrey’s 5G/6G Innovation Centre will lead a new £8 million Centre for Doctoral Training in Future Open Secure Networks (FORT). 

Read more

Protecting assets with LTE, NTN & 5G LPWA

Posted on: March 15, 2024

In this compelling piece, part of the Key Industry Insights Series, Analyst Robin Duke-Woolley of Beecham Research and Kevin Guan of Fibocom, explain how LTE Cat 4/1/1bis/M, NTN and 5G LPWA are working to change the game for protecting goods and supply chains with total, global coverage asset tracking for reduced losses and improved operations

Read more
FEATURED IoT STORIES

What is IoT? A Beginner’s Guide

Posted on: April 5, 2023

What is IoT? IoT, or the Internet of Things, refers to the connection of everyday objects, or “things,” to the internet, allowing them to collect, transmit, and share data. This interconnected network of devices transforms previously “dumb” objects, such as toasters or security cameras, into smart devices that can interact with each other and their

Read more

The IoT Adoption Boom – Everything You Need to Know

Posted on: September 28, 2022

In an age when we seem to go through technology boom after technology boom, it’s hard to imagine one sticking out. However, IoT adoption, or the Internet of Things adoption, is leading the charge to dominate the next decade’s discussion around business IT. Below, we’ll discuss the current boom, what’s driving it, where it’s going,

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more