The Global Smart City Technology Market

Date: 3/7/2016

The Global Smart City Technology Market Is Expected to Be Worth Approximately $27.5 Billion Annually by 2023, Compared to $12.1 Billion in 2016

According to Navigant Research, Roughly 85% Of The Projects Are Focused On Issues Related to Energy, Transportation, or Government

  • Navigant Research Leaderboard Report: Smart City Suppliers
  • Release Date: 1Q 2016

Smart City Technology and Application SuppliersCity leaders all over the world have embraced the smart city concept with enthusiasm. They are heralding innovative projects and laying out a vision for how cities can use technology to meet sustainability goals, boost local economies, and improve services. It is this commitment to changing how cities operate that is driving the continued interest in smart cities. While the market for smart city solutions is evolving and continues to be highly attractive to a broad range of suppliers, it is also a challenging area with complex dynamics.

Smart city suppliers need to be adaptable to the emerging needs of their customers and innovative in their approaches to the market. Suppliers are developing offerings that meet the growing interest in urban Internet of Things (IoT) applications, big data solutions, and the transformation in city approaches to energy policy, urban mobility, and city resilience. According to Navigant Research, the global smart city technology market is expected to be worth approximately $27.5 billion annually by 2023, compared to $12.1 billion in 2016.

This Navigant Research Leaderboard Report examines the strategy and execution of 16 leading smart city suppliers with the capacity to provide leadership on large-scale smart city projects spanning multiple operational and service areas. These smart city suppliers are rated on 10 criteria: vision, go-to-market strategy, partners, product strategy, geographic reach, market presence, sales & marketing, product performance & features, product integration, and staying power. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the growing global smart city market.

Top 10 Vendors:

  1. IBM
  2. Cisco
  3. Microsoft
  4. Siemens
  5. Hitachi
  6. Huawei
  7. SAP
  8. Panasonic
  9. Oracle
  10. Ericsson

This Navigant Research report provides an assessment of the current state of smart city development around the globe. The report covers five key industry sectors as they relate to smart cities: smart energy, smart water, smart transportation, smart buildings, and smart government. It also looks across these sectors at projects that address multiple aspects of city operations. The 235 projects included in this Tracker are segmented by region and by primary industry sector. Roughly 85% of the projects are focused on issues related to energy, transportation, or government.