The firm forecasts that the global smart city technology market will grow from $6.1 billion in annual revenue in 2012 to $20.2 billion by 2020. Smart cities integrate technology into a strategic approach to sustainability, Navigant Research says.
Five segments are the focus for smart city investment: smart energy, smart water, smart transportation, smart buildings and smart government.
IBM’s smart city technology and products play a key role in its broader “smarter planet” strategy. The company’s continued investment in research and development, products and city engagement makes it a leader in the field, the report says.
Navigant Research also calls Cisco’s smart city investments “noteable.” The high-tech firm’s leader position in the market reflects its early work with pathfinder cities — including San Francisco, Barcelona, Amsterdam and Songdo — and its continuing work with a wide range of other cities and industry partners, the report says.
The Navigant Research Leaderboard Report evaluates 15 leading smart city suppliers and rates them on 10 criteria for strategy and execution, including vision, go-to-market strategy, partners, product strategy and roadmap, geographic reach, market share, sales and marketing, product performance and features, product integration, and staying power. The report profiles these vendors and ranks the top 10, which are:
- Schneider Electric
- General Electric
Earlier this spring IBM teamed up with Arad Group to develop a product that will help utilities and water companies use big data and advanced analytics technology to better manage drinking water. IBM is working with Arad to integrate the latest analytics algorithms into the company’s automated meter system software, which will help utilities reduce water losses, cut costs and better understand water consumption. The embedded analytics is designed to reduce the number of false alerts and provide customers with email or SMS alerts when a leak is detected, IBM says.
IBM and Cisco were among the 23 Climate Leadership Award winners selected by the EPA, the Association of Climate Change Officers, the Center for Climate and Energy Solutions and The Climate Registry in March. The companies received awards for their work to reduce GHG emissions in internal operations and throughout the supply chain.