LONDON--(BUSINESS WIRE)--According to the latest research study released by Technavio, the global smart communities market is expected to grow at a CAGR of over 18% until 2020.
This research report titled ‘Global Smart Communities Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments, including smart grids, smart community buildings, smart community transportation, and smart community water.
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“The use of smart sensor technologies is supporting advanced IT solutions, such as M2M communications and analytics. Smart motion sensors capture information and relay a signal to intelligent systems in case any changes are detected in the activity of residents. The use of sensor technology to support smart projects, such as smart traffic, smart lighting, smart waste management, and smart grids, are also on the rise,” said Amit Sharma, one of Technavio’s lead analysts for IT professional services research.
“The use of sensor technology in IT solutions, such as IoT for infrastructure development, is also gaining traction. Sensor technologies, such as fiber optic sensors, are helping build smart waste management systems in many communities. Many similar initiatives are due to be launched over the upcoming four years,” added Amit.
Global smart communities market by IT solution 2015
|
- Smart grid |
35.5% |
|
|
- Smart community building |
19% |
|
|
- Smart community transportation |
16% |
|
|
- Smart community water |
10% |
|
|
- Others |
19.5% |
Source: Technavio research
Smart community grid: largest segment of the global smart communities market
Smart community grids are fundamentally a next-generation power supply system that use a smart grid architecture to save electricity. The need to save electricity for sustainable development is gaining urgency in both developed and developing countries. The effective management of power supply systems (by using solar and wind energy) is therefore helping communities to reduce power consumption at minimal costs. ICT infrastructure and automated control systems, such as smart grid technologies, help electricity suppliers reduce transmission losses and conserve electricity for future consumption. Further, IT solutions (such as data management, real-time analytics, communications systems, and automation technologies designed to manage smart grid architecture) are helping communities to remain connected with power grids and use electricity judiciously.
Vendors in the market, irrespective of the size of their business, are providing smart grid technology for communities. Leading vendors, such as Toshiba, Cisco, Siemens, ABB, and IBM, are providing smart grid technology solutions. eCAMION is providing energy storage solutions known as community energy storage (CES) solution, which uses lithium-ion batteries. The company received funding support from the Sustainable Development Technology Canada (SDTC).
Smart community building: second largest segment of the global smart communities market
Buildings consume 40% of the global energy demand. Buildings in cities have to be re-engineered to save energy before they are considered a smart cities. Smart building solutions make a building green, safe, and productive. This, in turn, saves up to 30% of water consumption, 40% of energy consumption, and overall building maintenance costs by 10%-20% annually. Some of the key issues in a building include fire safety, earthquake resistance, terrorist attacks, and floods. The use of technology (such as interconnected sensors) can help reduce greenhouse emissions from a building. Smartphone users in buildings can be connected through different devices and IoT technologies. In case of any emergency, these devices communicate with each other and generate alert notifications for residents.
Smart homes also help reduce carbon footprint and boost efficiencies with the help of intelligent systems that control building operations. Cisco offers the Cisco Smart Connected Buildings technology to control building operations through IP networking solutions designed to reduce energy consumption. Many similar products are likely to be introduced into the market during the course of the forecast period.
Smart community transportation
Transport is a fundamental activity in a city both for industries and for consumers. Managing transportation systems is one of the biggest challenges cities across the globe are facing today. Workforce mobility requires huge attention to ensure the safety of employees in the workplace. Therefore, smart transportations systems play a vital role in dense urban environments. Smart transport systems comprise intelligent traffic management systems, smart charging for electrical vehicles, and intelligent public transport systems. These systems are designed with the help of sensors and machine-to-machine (M2M) technologies. Most of the investments may be directed at intelligent traffic management systems (that comprise sensors and CCTV surveillance systems) that play a crucial role in managing heavy urban traffic. These sensors and cameras capture data and share information with mass transportation authorities, city administrations, and law enforcement agencies. For instance, traffic information is shared between bus and tube systems in Medellin, Colombia, and this allows the concerned transport authority to provide real-time information and helps manage and control passenger traffic.
Smart community water
Water systems in smart communities are geared with automated control systems and information technologies (such as big data, analytics, and information management systems). As the global population expands, demand for clean water may stress natural water resources. Communities are adopting smart water management systems, based on ICT, to save water resources for the future. Technology can help supply systems to provide purified water in a cost-efficient manner. Siemens and Schneider Electric are providing smart water network systems to streamline water network operations. Schneider Electric is using integrated information systems to control the water operation process. The integrated information management system sends real-time data to operators to track and monitor the water supply process. The data is collected from supervisory control and data acquisition (SCADA) systems that are linked to geographic information systems (GIS), and integrated with enterprise resource planning (ERP) systems. Automated systems (with the help of hydraulic supervision software) collect and disperse real-time information about water leakages from pipelines in a bid to prevent water loss.
Browse related reports:
- Global Smart Cities IT Services Market 2015-2019
- Global Smart Cities Market 2015-2019
- Global IoT Market 2016-2020
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