Smart city technologies continue to shape the cities of tomorrow

Berg Insight today released the latest edition of its comprehensive smart city technology report comprising in-depth studies of five key technology areas – smart street lighting, smart parking, smart waste collection, urban air quality monitoring and smart city surveillance.

In 2023, the global installed base of individually controlled smart street lights amounted to 23.4 million units (excluding China). The corresponding figures for the smart parking and smart waste sensor technology markets were at the same time 1.30 million and 1.25 million units respectively.

Smart parking sensors refers to in-ground or surface-mounted parking occupancy detection sensors while smart waste sensor technology consists of fill-level sensor devices that may either be pre-integrated into bins and containers, for example as a smart bin offering, or retrofitted on existing collection points. The smart street lighting market has now gained significant traction and its installed base will grow at a robust CAGR of 21.9 percent to reach 63.0 million units in 2028. The number of installed smart parking sensors is expected to see a slightly slower growth of 19.8 percent (CAGR) while the smart waste sensor technology market will be the fastest growing of the three with a CAGR of 22.8 percent.

A more nascent smart city technology area is the field of non-regulatory urban air quality monitoring, which comprises increasingly small and low-cost air quality monitoring devices that can serve as valuable complements to traditional regulatory monitoring stations. In 2023, the number of such non-regulatory air quality monitoring devices installed in outdoor urban environments amounted to 154,000 units globally and will reach 498,000 units in 2028. The largest of the five covered smart city application areas was meanwhile the smart city surveillance market, which reached a global market value of € 12.5 billion in 2023. The market, which includes both fixed and mobile video and audio surveillance solutions, is expected to grow at a CAGR of 16.8 percent throughout the forecast period.

Outside China, Europe has emerged as the leading smart city technology adopter while North America constitutes the second largest market. The Middle East and Asia-Pacific regions meanwhile constitute the fastest growing markets for smart city technology, fuelled by ambitious top-down initiatives and rapid urbanisation.

“These regions offer fertile ground for innovation and investment, presenting significant opportunities for stakeholders to capitalize on the demand for sustainable urban solutions and digital transformation”, said Felix Linderum, IoT analyst, Berg Insight.

There are great opportunities for growth within all the separate smart city application areas, however, from a horizontal perspective, one of the biggest challenges is interoperability between the different layers and technologies.

“Truly smart cities are starting to emerge but their continued development will largely depend on the ability of local governments to navigate the complexities involved”, continued William Ankréus, IoT analyst, Berg Insight. Overall, the demand for remotely managed infrastructure grows day-by-day.

Mr. Ankréus and Mr. Linderum concluded:

“The massive influx of people into cities around the world and the increased interest in social, environmental and economic sustainability will continue to act as driving forces for smart cities and their enabling technologies.”

The post Smart city technologies continue to shape the cities of tomorrow appeared first on IoT Business News.