The Smart City Journey Report from Business Insider Intelligence - Business Insider

As populations and urbanization continue to rise, many cities are turning to technology to help them manage resource constraints. In particular, cities will increasingly turn to a section of the IoT known as smart city solutions. Business Insider Intelligence estimates that global investment in the space will reach $295 billion by 2025, more than doubling in just five years from $112 billion in 2019., Business Insider Intelligence takes a deep dive into the evolving smart city solutions market.

The smart city journey is the process through which cities develop their internal capabilities and the framework surrounding the implementation of smart city projects. This includes how a city goes about securing access to funding, prioritizing projects, gathering citizen feedback, selecting private partners to implement those projects, and disseminating the generated data.Leading smart city projects tend to rely on a wide range of financing vehicles, many of which require private partners.

It's essential that the risk of smart city solutions such as congestion management systems are highly protected against cyberattacks, given the tangible consequences it could have. More advanced smart cities will not want to be locked in to single-partner ecosystems so as to avoid overreliance on any one provider.Lays out the three steps of the smart city journey, which starts with projects developed within siloed departments, and ends with open, interconnected solution ecosystems.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

iwoca debuts lending platform for third parties - Business Insider - Business Insideriwoca's new platform will help it diversify its distribution channel and third parties to offer SMBs a well-rounded service
Source: BusinessInsider - 🏆 729. / 51 Read more »

JPMorgan Chase announces $50 million coronavirus aid package - Business InsiderThis is a 'historic time of need' that requires businesses to step up and help their communities, a company executive told Business Insider.
Source: BusinessInsider - 🏆 729. / 51 Read more »

What coronavirus paid leave means for employees and businesses - Business Insider25% of American workers don't have access to paid sick leave from their employers. If passed, a new bill would give employees 10 weeks of paid leave.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Monzo is launching one free and one paid business account - Business InsiderMonzo is launching two business bank accounts that it trialed for the last 12 months and extended early access to for 2,500 business customers.
Source: BusinessInsider - 🏆 729. / 51 Read more »