Market Overview and Challenges
Cities are becoming increasingly populated and congested.
The population growth of cities continues to rapidly increase. Cities are already struggling with how to manage the increased urban growth with limited resources and budgets. Without proper planning, the result will be increased traffic congestion for both pedestrians and vehicles, more pollution, ...and more crime.
To thrive, cities have to improve residents' quality of life.
Cities that provide a high quality of life to their citizens create communities that are highly desirable to current residents and attract prospective residents as well. Public safety, transportation optimization, environmental monitoring and citizen services create a modern city infrastructure and desirable environment to live in.
The Internet of Things enables cities to grow and expand.
With the power of IoT, city officials can use valuable data to gain a better understanding into their city's operations. Data enables the city to empower local law enforcement, track parking efficiency, monitor the environment and enable city-wide connectivity. Cities that adopt IoT play a leading role in fostering creativity and innovation. The creation of customized IoT applications positions cities as technology leaders which attracts new residents and businesses.