Global market for smart city platforms expected to reach $755 million by 2027

Driven by Internet of Things (IoT) deployments, as well as other smart technologies, smart city platforms provide the integrated capability to coordinate data, applications, and services at one or more levels across operational domains for multiple stakeholders.

The concept combines an ambitious vision for the integration of urban services and the more pragmatic development of foundational layers that will enable that vision.

“City platforms enable continuous service and technology innovation and allow cities to adapt to a world where platform offerings dominate many business areas,” says Eric Woods, research director with Navigant Research. “Developing the right platforms will be key to building the partnerships cities need to ensure that their economies, environment, and services are fit for the future.”

According to the report, cities need to develop capabilities that enable them to manage resources and deliver services in the world shaped by platforms such as Uber, Airbnb, Amazon, Google, and Facebook.

Navigant Research recommends that city leaders develop a platform strategy based on core principles for openness, use of standards, and alignment with other technology and business programs. Technology and service partners need to work closely with cities to develop solutions tailored to local needs and to support them through service transformation.