Juniper Research has shared findings of its recent study on smart cities.
According to the research firm, ‘smart city’ remains a relatively young concept. Many cities are beginning to recognise the need to improve in terms of competitiveness and quality of life.
As such, increasing urban populations are creating pressure on city resources, driving the need for new and efficient solutions.
Juniper Research says traffic easing measures are at the forefront of many smart cities’ efforts. According to the firm, smart traffic management and smart parking initiatives will save some 4.2 billion man-hours annually by 2021.
The 2 million smart parking spaces Juniper anticipates to be installed globally by 2021 will serve to improve private and commercial traffic flow.
“Facilitating the movement of citizens within urban agglomerations via transport networks is fundamental to a city’s economic growth” noted research author Steffen Sorrell. “Congestion reduces businesses’ competitiveness, and contributes to so-called brain-drain.”
Additionally, the research found that the smart street lighting market, consisting of micro-controlled LED units and sensors is expected to surge over the next 5 years, with over half of installed LED fixtures being networked globally by 2021.