Tuesday, 21 May 2019 00:26

Smart city technology revenues to double to US$4.4b in next 4 years: analysis

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Singapore, deploying smart traffic technology solutions Singapore, deploying smart traffic technology solutions

Smart city traffic technology solutions deployed to ease chronic congestion in cities around the world are forecast to generate US$4.4 billion in revenue in 2023, up from $2 billion in 2019.

According to new analysis by Juniper Research, these solutions typically use sensors in combination with machine learning software algorithms to dynamically alter traffic light phasing according to traffic levels, smoothing urban traffic flows.

The new research — Smart Cities: Leading Platforms, Segment Analysis & Forecasts 2019-2023 — found that these technology-driven traffic solutions, which lower the emissions footprint of cities, will save the equivalent of over 780 billion passenger vehicle miles’ worth of greenhouse gas emissions over the forecast period.

It identified North America alongside the Far East and China as major investment regions, driven by strong prevalence for technology deployment over policy-driven solutions to lower traffic congestion.

Juniper examined the impact of city traffic innovation on citizens in terms of policy and investment direction, technology impact, agency cohesion and traffic management impact on city air quality.

In this context, the leading cities across the globe are:

  1. Barcelona
  2. San Francisco
  3. Singapore
  4. London
  5. Portland, Oregon

Juniper found that Barcelona leads the rankings on account of its investment into smart traffic solutions, electric vehicle charging infrastructure and policy, aimed at improving air quality and lowering private vehicle use.

And while San Francisco showed strong policy and innovation, the lack of regulation with regard to ride-hailing services has damaged its overall performance, Juniper says.

The research also found that while ride-hailing services are widely blamed for increased congestion, they have an opportunity to capitalise on the road towards future MaaS (mobility-as-a-service) deployments.

“Entities such as Didi capture vast amounts of data in regard to congestion, traffic and passenger flows”, said research author Steffen Sorrell.

“Analysis of this data will be fundamentally useful in optimising the MaaS travelling salesman problem, and provides an opportunity for smart city data monetisation.”

For more insights, download Juniper’s free whitepaper The Future of Lighting & Urban Mobility in Smart Cities.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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