Smart city units set to top the one billion mark over the next decade as Asian demand increases
It is estimated the the rise of smart, connected cities will drive equipment sales through the one billion milestone within a decade, according to new figures from analyst firm IHS.
Its latest report suggests global unit shipments of internet-connected smart city devices will increase from 115.4 million in 2015 to 1.2 billion in 2025.
This growth will be inspired by an upswing in orders from the Asia-Pacific region, which will make up more than half of all shipments received by 2025. Currently, North America, Europe, and Asia Pacific each receive approximately one-third of the total unit shipments.
IHS analysts say that this shift is due to the support of several national governments in the region which have announced smart city development initiatives that focus on full-city development, not just trials, including India’s 100 Smart Cities program and Singapore’s Smart Nation program.
The region’s demand will also be strengthened by large populations in major Asian countries moving into cities from rural areas, which are straining under the increased pressure and demand for resources, creating a clear need for smart city development.
The United States will also drive large adoption in North America as several major cities launch their own smart infrastructure projects. These even have federal backing after the White House announced a new smart cities initiative in September 2015 that will invest more than $160 million in federal research funds to bolster the U.S. smart cities market.
The UK has played a major part in encouraging European smart city developments, with the country launching several initiatives using such technology.
For example, earlier this year, the Royal Borough of Greenwich in South-East London has been signed up to the Smart Cities and Communities Lighthouse programme, which is part of a €25m project that will demonstrate how new technology can help develop and improve the lives of residents in a growing city.
The capital was also recently named alongside Bristol as the UK’s top ‘smart city’ in a Huawei report examining the use of digital technology in the development of everything from transport to refuse collection.
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