Global Smart City Tech Spending to Reach $124 Billion
“The top 100 cities investing in smart initiatives in 2019 represented around 29 percent of global spending, and while growth will be sustained among the top spenders in the short term, the market is quite dispersed across midsize and small cities investing in relatively small projects.”
Global Smart Grid Cyber Security Market Growth Upside
The global smart grid cyber security market will to grow at a CAGR of around 10 percent between 2016 and 2020, according to Technavio. In 2015, the global smart grid cyber security market was dominated by the Americas, with a market share of over 41 percent.
Source: Technavio
Smart Grid Technology will Deliver $18.8 Billion in Savings
Smart Cities are applying Internet of Things (IoT) based solutions. A smart city is an ecosystem that places emphasis on the use of digital technology to drive efficiency for existing social, economic and environmental processes, while developing new, data-driven processes.
Source: Digital Lifescapes
Smart Grid IT Systems Market will Reach $22B by 2020
During 2015, the Americas accounted for around 45% of the market share to dominate the global smart grid IT systems market. Increased investments in smart grid systems and the subsequent increase in the R&D spending are factors that will fuel growth in the Americas market.
Source: Technavio
Smart Grids will Deliver $18.8 Billion in Cost Savings
Internet of Things (IoT) technologies are enabling municipalities around the globe to implement a series of digital transformation projects. Juniper Research has found that European cities are forging ahead with efforts to become Smart Cities, with 60 percent of the world’s leading smart city projects based in this region.
Source: Digital Lifescapes
How the IoT Drives Demand for Industrial Cybersecurity
While manufacturing and industrial companies vary in their need for traditional security measures, the proliferation of communication networks and the growing use of off-the-shelf software has thrust cyber security concerns into the spotlight.
Source: Digital Lifescapes
Internet of Things Apps within the Global Smart Grid Market
Power utilities are increasingly using smart grids and Internet of Things networking solutions with modern sensing technologies to achieve an effective smart grid system. According to Technavio, the global smart grid sensors market is estimated to grow at a CAGR of 16%, during the forecast period from 2014 to 2019.
via Technavio
How Forward-Thinking Utilities Adopt the Internet of Things
The smart grid sensor market is expected to reach the $100 million mark in 2017. To date, the market for smart grid sensors is centered mainly in North America, where there is a mixture of a few large installations and many smaller pilot projects.
Smart Grid Initiatives to Reach $10.7 Billion in Savings by 2019
The Juniper Smart City Rankings have been compiled following an analysis of the Smart capabilities offered in each city, with particular focus on their use of smart grids, smart traffic management and smart street lighting.
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