For instance, In India, the state government utilized geospatial information systems and dashboards in smart cities including Pune, Bangalore, and Surat to monitor and map patients diagnosed positive with covid-19. Similarly, during the pandemic crises, IoT technology can assist in maintaining cleanliness in the city and detect people without masks or not maintaining hygiene in public places. As per the report of Capgemini Sustainable Business Revolution 2030, the development of smart cities is dominantly based on the application of advanced technologies such as IoT to deal with such health emergencies.Ī smart city can provide vast data that can be utilized in contact tracing, which could be helpful in emergency situations. Thus, the 2019 pandemic crisis has surged the demand for this technology in smart cities to increase real-time connectivity. However, in the long run, to deal with the challenges of overcrowding and maintaining social distancing in public places in highly populated metropolitan cities, governments, in partnership with private companies, are focusing on smart solutions. Lockdowns across the globe have highly affected the manpower, supply chain, logistics, low production, and high cost of hardware, impacting the growth of the market. The COVID-19 pandemic has severely impacted the ongoing smart city projects. Similarly, increasing government initiatives and spending on creating connected cities are expected to boost the IoT in smart cities market.ĬOVID-19 Pandemic to Surge Demand for IoT in Smart Cities in Long-run Period Moreover, increasing penetration of the internet, rapid adoption of smartphones, and growing 5G infrastructure are supporting the implementation of IoT in the smart cities. For instance, in 2017, with the implementation of a smart waste management solution, Seoul city in South Korea reduced its garbage collection cost by 83%. In addition, the growing need for energy-efficient resources, waste management, traffic management, public safety, and security is likely to surge the demand for IoT in smart type of cities. The growing urbanization and increasing demand for efficient infrastructure in metropolitan cities are expected to boost market growth. IoT in smart cities is the application of smart technology and connected devices to gain real-time data of the external environment across the smart city. The global impact of COVID-19 has been unprecedented and staggering, with IoT in smart cities witnessing a negative impact on demand across all regions amid the pandemic. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. The global market will exhibit a significant growth of 21.3% in 2020 as compared to the average year-on-year growth during 2017-2019. The IoT in smart cities market size was USD 110.56 billion in 2020 and is projected to grow from USD 134.47 billion in 2021 to USD 582.38 billion in 2028, exhibiting a CAGR of 23.3% in the 2021-2028 period.
0 Comments
Leave a Reply. |