In an article for Euractiv, Navigant Research examines the evolution of the global smart city platform market
City platforms can enable continuous service and technology innovation and allow cities to adapt to a world where platform offerings dominate many business areas. The idea of the smart city platform encompasses both the technical aspects of the platform concept and an emerging vision of the city as a service.
In an article for Euractiv, Eric Woods, research director at Navigant Research, analyzes the global smart city platform market and provides recommendations for cities and suppliers.
“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,” wrote Woods.
Smart city platforms will enable an innovative ecosystem of urban service providers from a diversity of industries. As such, the smart city platform is not a single product category but rather an umbrella concept for diverse offerings and bespoke city approaches.
Navigant Research expects cities to invest more than $4 billion in smart city platforms over the next decade. However, such platforms will underpin a market for smart city services that is estimated to be worth more than $1.5 trillion.