Just as with any technology sector, smart cities has offered analysts and investors a lot to speculate about. Spending forecasts, mergers and acquisitions, growth and new gadgets in smart technology have filled the web and conference schedules with plenty to speculate about. But did any of the 2014 predictions come true? Perhaps in some ways they did.
Yes, we’ve seen growth in smart cities marketplace. Certainly as the definition has grown to incorporate more aspects of city life. Established vendors are moving into the market from the energy, transport, buildings, and government sectors, while startups are addressing a range of emerging opportunities.
While we have yet to see a global standard for smart city technology, there have been several recent initiatives that are looking at how standards can help accelerate the adoption of smart city solutions.
Global interest in smart cities continues to grow, driven by a range of social, economic, and technological developments. City leaders are heralding innovative projects and laying out their vision for how cities can use technology to meet sustainability goals, boost local economies, and improve services. This commitment to changing how cities operate is driving the continued interest in smart cities. Cities are committing to programs for sustainability, innovation in public services, and economic development that depend on technology investments.
What will the next five years bring to the Smart Cities marketplace? By 2020, much needs to be done. As we begin 2015, I predict we will see even more prognostications. Happy New Year.