Smart City Platform

An overview about Smart City Platform and its Market Growth

The smart city platform is a global initiative meant at sharing municipal information with citizens or entities that need it. It enhances interoperability between different sectors to encourage innovation and benefits citizens with intelligent surroundings that will improve quality of life and well being.

This platform encompasses a management system for the city government in the form of a tool that provides support to citizen-focused decision making processes. It aids ideating with the city’s situation and the needs of its citizens in an interactive and proactive manner that results in serving better and more efficient services with sustainable development with an optimal use of available resources.

Moreover, asystem of smart city includes various facilities like smart transportation systems, building automation systems, smart lighting systems, renewable power, security and control systems, water treatment, and supplyand intelligent grids etc.

As urbanization is growing day by day, smart cities are also growing globally which is allowing growth in the economy. As per thecitations by the United Nations, 404 millionurban dwellers in India, 292 million in China, and 212 million in Nigeria are expected to be added to the current populations by 2050.

The government initiatives and spending are giving much more significance to smart city platform providers as compared to individual smart solutions because of its scalability and integration of other smart solutions.

Features and applications of Smart City platform:

The smart city platform market value in 2020was USD 10.14 billion and it is expected to reach USD 60.07 billion by 2026with a CAGR of 36.60% during the forecast period (2021-2026).

Now, there are four key domains of the smart city platform where the city should perform well.These are 1. smart economy, 2. smart people, 3. smart governance, and 4. smart mobility.

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Out of these four, Smart Governance will be the major application area:

Smart governance augments the efficiency of government programs and guides them in attaining their beneficiaries. Through eGovernment initiatives, some smart cities are trying to use technology to engage their citizens which will lead to efficient public sector and streamlined government systems to support sustainable development.

eGovernment makes use of online one-step gateways for civilians to access primary government services promptly and easily. For example, a local government keeps records of life events such as births, deaths, and marriages in the cloud, rather than in paper files. This provides an easy access to both government officials and employees.

Smart governance accounted for a major share of 20.92% in 2020 and is expected to grow at a CAGR of 41.4% during the forecast period.

Final Words…

Thus, Smart City platform leads to effective decision making based on data, improved environment, safer communities, improved urban transportation, increased digital equity, efficient public utilities, and implementation of new business opportunities. As Smart City Platform technology has the potential to overcome many of the environmental, societal and economic challenges with which it can make cities a better place to live, many cities across the world are investing in smart city platform project.

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