IBM announced today that it has been named the leader in the Smart City Suppliers market by Navigant Research.
With deep expertise in helping cities, IBM has worked with thousands of cities globally to help transform their systems and provide better service to citizens.
The new Navigant Research Leaderboard Report on smart city suppliers examines the world’s leading companies that support smarter cities projects including energy, water, transportation, building management, and government services. The report specifically compares companies that provide an integrated approach to city operations, technologies, and solutions.
According to the report, “IBM’s commitment to smart cities has become a key component of its broader Smarter Planet strategy. Its continued investment in research and development (R&D), products, and city engagements has allowed it to maintain its leadership position despite the growing number of heavyweight competitors.”
Mass urbanization, innovations, and new intelligence are changing the look of cities and challenging the next generation of leaders with new opportunities in public safety, healthcare, transportation, water, and energy.
The widespread interest in smart city programs is creating a global market opportunity. Navigant Research forecasts that the global smart city technology market will grow from $6.1 billion in annual revenue in 2012 to $20.2 billion by 2020. Five segments are the focus for smart city investment: smart energy, smart water, smart transportation, smart buildings, and smart government.
Navigant Research estimates that the global market for Smart Cities technology will grow from $6.1 billion annually in 2012 to more than $20 billion in 2020, a compound annual growth rate (CAGR) of 16.2 percent.
This represents a cumulative investment of over $117 billion in smart city technologies between 2012 and 2020.
Navigant Research Leaderboard Report evaluates smart city suppliers on the basis of market share, product performance and features, product integration, marketing, and financial resources to support large-scale smart city projects on a global basis.
Click here to learn more about the Navigant Research Leaderboard Report and to download a copy of the executive summary.