New technologies and applications enabled by the Internet of Things are contributing to smarter streets
A recent report from Navigant Research highlights the impact of smart street management technologies on city operations, including street lighting, urban mobility, waste collection, and public safety, with global market forecasts, through 2024.
Smart streets are becoming a key element in the unfolding smart city vision. Technologies like smart street lighting, connected vehicles, smart buildings, and more are anticipated to be adopted at an accelerating rate during the next two years, becoming ubiquitous by 2024. Click to tweet: According to a recent report from @NavigantRSRCH, the global smart street solutions market is expected to total $23.8 billion between 2015 and 2024.
“Streets are no longer just a point of physical connection, but also a point of virtual connection to a wide range of service providers and information sources,” says Eric Woods, research director with Navigant Research. “The street itself is becoming a rich source of data on current activities and the status of street assets.”
According to the report, streets are becoming smarter thanks to multiple new technologies and applications enabled by the spread of advanced networking technologies and intelligent devices. The ability to collect, manage, and analyze data from multiple sources is also becoming a critical element in new approaches to city management, as well as in the provision of better information to residents, visitors, and businesses.
The report, Smart Street Management, analyzes the global market for smart street management technologies, including smart solutions for street lighting, urban mobility, waste collection, and public safety. The study investigates the key market drivers, barriers, and regional trends associated with smart street management, as well as the emergence of new city management platforms. Global market forecasts of the smart street management technology market, segmented by region and service area (street management, street safety, and street mobility), extend through 2024. The report also examines smart street and smart city case studies and the competitive landscape related to smart street solutions. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Smart Street Management, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.