Sees up to 27% of All Carrier Revenue Attributable to Smart Cites by 2023
SEATTLE, WASHINGTON, UNITED STATES, November 6, 2018 /EINPresswire.com/ — Many information and communications technologies are leveraged to deploy and support smart city deployments. Chief among them are Artificial Intelligence (AI), Internet of Things (IoT) technology, and Fifth Generation (5G) as they provide the intelligence, communications, connectivity and bandwidth necessary for highly functional and sustainable smart cities market solutions.
A significant majority of IoT applications will occur within metropolitan areas and will ultimately integrate within smart city ecosystems. The use of AI for decision making in IoT and data analytics will be crucial for efficient and effective smart city solutions in terms of decision making. 5G provides substantial bandwidth where needed as well as significantly lower latency for next generation applications and services such as virtual reality controlled teleoperation and other enhanced user interfaces.
Mind Commerce sees smart cities providing significant opportunities for technology integration in support of highly customized, yet scalable services. The company sees a positive feedback loop created and sustained by leveraging the interdependent capabilities of AI, IoT, and 5G.
Mind Commerce has accordingly coined the term "AIoT5G" for the convergence of these three technologies. This convergence will attract innovation that will create further advancements in various industry verticals and other technologies such as robotics and virtual reality.
Up to 27% of all carrier revenue will be directly or indirectly dependent upon smart cities by 2023. Smart transportation will be the top smart cities market application area through 2023. Significant transportation solution areas include Freight, Traffic, Parking, and Passenger Management. The fastest growing professional services area for global smart cities is infrastructure maintenance, reaching $2.1B by 2023.
The Mind Commerce Smart Cities Market report, Smart Cities Market: Technologies, Solutions, and Outlook for Applications and Services 2018 – 2023, evaluates the smart cities market including leading vendors and strategies (such as a single vendor centric approach), infrastructure, solutions, applications and services. The report analyzes market factors driving solution adoption, technology readiness and fitness for use, and other considerations.
The report assesses the aforementioned factors to derive penetration and revenue to forecast market value for the period of 2018 – 2023. The report also analyses the role of technology accelerating digital transformation including AI, edge processing, 5G deployment and usage, and advanced data analytics.
About Mind Commerce
Mind Commerce is an information services company that provides research and strategic analysis focused on the Information and Communications Technology (ICT) industry. Our ICT reports provide key trends, projections, and in-depth analysis for infrastructure, platforms, devices, applications, services, emerging business models and opportunities.
We focus on key emerging and disintermediating technology areas for service providers, technology providers, developers (communications, applications, content, and commerce), systems integrators and consultants, government organizations and NGOs, and the financial community. Visit us at https://mindcommerce.com/
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Source: EIN Presswire