Smart Internet IoT technology will grow by 11% in the next 8 years. Huicheng IoT technology mainly solves the trend of becoming more integrated and cross-vertical. In the future, smart meter and video surveillance will become the largest source of income for Wisdom Internet of Things technology.
According to a new report from ABIResearch, the growth of smart city IoT technology revenue is expected to continue to rise rapidly. The average growth rate is expected to reach 11% in the next 8 years, of which 12 key technologies and vertical industries will grow from US$25 billion in 2017. In 2026, the $62 billion, the fastest growing smart city IoT vertical industry includes electric vehicle charging stations and microgrids, smart waste management and environmental sensors, while smart meters and video surveillance are the largest sources of revenue.
Dominique Bonte, vice president of ABI Research, said: "As people's interest and attention to smart cities grows, a large number of suppliers in the value chain are beginning to reposition and optimize their IoT product portfolio. Some smart cities are Vendors provide the best environment for horizontal IoT platform solutions and address the recent trend toward more holistic, cross-vertical approaches.
According to ABI Research, the higher the value chain, the greater the revenue potential of suppliers, including applications and services, analytics and AI, and security. As the market moves toward platform and commoditization, connectivity, sensor and device management, and professional services are gradually losing revenue in the revenue value chain.
Smart City IoT solutions and platforms include Cisco City Dynamics, InterDigitalChordant, PTCThingWorx, Microsoft CityNext, Huawei OceanConnect, Nokia Impact, NVIDIA Metropolis, VerizonNetSense (Sensity), Siemens MindSphere, IBM Watson IoT, SAPLeonardo and Amazon AWS IoT Platform.
However, if suppliers want to increase revenue from these smart city products, they need to address the specific challenges facing the target city. The report said: "The key success factors include flexible, scalable as a service," that is, as technology grows "enterprise standards-based interoperability and guaranteed technology lifecycle management, provision of services, financing and Ecosystem support. “Simple application of a thin layer of market boards on a common IoT platform will not allow suppliers to cut into them.â€
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