IDC forecast on smart city projects and spending

smart city technology investmentIDC has revealed its forecast on smart city projects.

In 2018, a communications services provider will step forward to be a Digital Hero, developing a collaborative strategy to grow smart communities, resulting in 50 percent improvement in broadband coverage in the municipalities with which it partners.

In 2018, 30 percent of major global cities will develop an outcomes-based Smart City IoT platform strategy to connect devices, collect, and manage data from various city domains and tech suppliers, will rapidly deploy new solutions, and will create a unified view of the city.

By 2019, 25 percent of midsize to large cities will feel the effects of digital transformation on revenue in parking and transit collections, options for ad-based revenue, and potential premium data services offerings.

By 2019, one-third of major cities will regulate ride-hailing companies as public transit providers to combat congestion, improve rider safety, and reduce liabilities in procuring first- and last-mile transit options.

By 2019, 20 percent of local, state, and regional governments globally will develop blockchain initiatives to reduce operational and processing costs, improve data integrity and sharing, and embed security and privacy protocols into registries and contracts.

By 2019, up to 50 percent of Smart City projects globally will be funded via PPPs, nonprofits, or MOUs as cities and tech vendors seek new ways to work together beyond traditional procurement models.

By 2020, at least three large-scale urban initiatives will allow individuals to personally interact with objects — such as street lights, street kiosks, and tourist structures — to access new experiences, information, and services.

By 2020, 20 percent of midsize to large cities will begin to implement V2X capabilities to optimize traffic flow and significantly reduce collisions in response to developments in connected vehicles and pressures for improved safety.

By 2020, 15 percent of large global city and state emergency management organizations will use a combination of augmented and virtual reality solutions to improve situational awareness with remote incident management and virtual subject matter expertise.

By 2020, 70 percent of national governments will create and enforce common cybersecurity standards (such as data management rules and connectivity security) for all levels of government because of Smart Cities’ increasing exposure to cyber-attack.