Internet since its commercialization has attracted unprecedented attention from various technology and solutions provider in developing innovative, customized, and highly efficient solutions. Subsequently, the internet of things driven solutions and services has gained a major traction across various industrial, commercial and residential applications. Furthermore, the gaining popularity of innovative and customized
Smart with IoT
Smart solutions through the internet of things (IoT) and other technologies has resulted in their gaining traction across various commercial solutions and services. As a result, the term smart cities concepts has been coined by different leading manufacturers, urban planners, and visionaries, that encompasses a city that is closely connected and shares information for enabling superior services to the individuals. For instance, leading technology provider IBM defines smart cities like the one that makes optimal utilization of all interconnected information available for excellent understanding of its control, operations, and subsequently enabling in the optimization of resource usage. Whereas, the networking giant Cisco defines smart cities as the adoption of scalable solutions that leverage the advantage of information, communication, and technology for improving the efficiencies, lowering costs, and enhancing the quality of life. Besides, the British Standards Institutes (BSI) defines the term as effective integration of digital and physical systems along with humans in the built environment for delivering sustainable and prosperous lifestyle for the humans. Primarily, different organizations have a different scope of definition while focusing on a general idea of bringing the best technology and IoT solutions towards the improvement of humans’ quality of life.
Smart city initiatives
A city in itself constitutes various essential components such as transportation through roads, railways, airports, and critical utilities, residential and commercial spaces to name a few components. Similarly, the smart city also represents the accumulation of numerous elements such as smart infrastructure, smart mobility, smart parking, energy management, smart transportation solutions, smart waste management, and smart governance among other parts, each playing crucial role towards bringing the smart city into reality. Over the past few years, some of the prominent energy efficient and intelligent solutions offered by various market players, have gained significant popularity across government agencies and municipal bodies. For instance, leading metro cities across developed and developing economies, have initiated numerous plans/strategy aligned with the features of smart cities. For instance, the ambitious Smart Cities Mission initiative by the Government of India plans to strategically develop its selected cities, facilitating resource optimization, lowering carbon footprint, achieving superior energy efficiencies, and enabling sustainable development. As a result, the Ministry of Housing & Urban Affairs in Government of India laid out fundamental performance matrix, strategies, and the scope of development and adoption of smart solutions along with the list of selected cities for the initiative. Similarly, the leading municipal and government agencies across other developed and developing economies are also laying out guidelines, regulations, and attractive taxation for drawing companies towards the implementation of their smart cities vision.
Transportation is playing a vital role
Transportation plays a very vital role in the development of any city or town as it allows for connectivity for ensuring the flow of trades, goods, and individuals across the city. Also, the integration of IoT driven solutions across automotive vehicles, public transportation, in fleet management, transit application, and optimal utilization of assets among other applications have the significant scope of use across different transportation verticals. For instance, the IoT enabled solutions in smart parking, and toll collection centers facilitate aid in the effective and efficient flow of traffic along with minimizing the carbon footprint and reducing vehicular emission. Also, the IoT enabled solutions deployed across parking spaces especially in commercial areas such as malls, stadiums, airports, public spaces, auditoriums and utilities significantly helps in space utilization. Similarly, the IoT enabled services and solutions have significant scope of application across energy management, infrastructure management, equipment, systems, and machinery critical in enabling major services for seamless functioning of the city.
The IoT in Smart Cities Market continue to attract substantial investment from leading product and solution providers, along with rising in the adoption of intelligent solutions by commercial and residential sectors. Also, the continuous development of smart, innovative solutions by various leading market players is further increasing the scope of application for adopting numerous smart technology-driven solutions by the various government and utilities service provider. Thus, the continuous adoption and integration of technologically driven solutions is consistently revolutionizing the way systems, equipment, and machinery interact for sharing information. Subsequently, redefining the quality of service expectation from the individuals.