$755 million global market for smart city platforms, facts revealed


A new report from Navigant Research expects the global market for smart city platforms to reach $755 million by 2027.

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

For instance, the need to coordinate data, applications and services at one or more levels across operational domains for multiple stakeholders is being boosted by the rollout of Internet of things and other smart technologies.

Navigant recommends cities to:

  • Develop capabilities that enable them to manage resources and deliver services in the world shaped by platforms such as Uber, Airbnb, Amazon, Google, and Facebook.
  • Leaders develop a platform strategy based on core principles for openness, use of standards, and alignment with other technology and business programmes
  • Work closely with technology and service partners to develop solutions tailored to local needs and to support them through service transformation.

Eric Woods, research director with 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.”