A recent report from Navigant Research highlights the impact of smart street management technologies on city operations, including street lighting, urban mobility, waste collection, and public safety, with global market forecasts, through 2024.
Smart streets are becoming a key element in the unfolding smart city vision. Technologies like smart street lighting, connected vehicles, smart buildings, and more are anticipated to be adopted at an accelerating rate during the next two years, becoming ubiquitous by 2024. According to a recent report from @NavigantRSRCH, the global smart street solutions market is expected to total $23.8 billion between 2015 and 2024.
“Streets are no longer just a point of physical connection, but also a point of virtual connection to a wide range of service providers and information sources,” says Eric Woods, research director with Navigant Research. “The street itself is becoming a rich source of data on current activities and the status of street assets.”
According to the report, streets are becoming smarter thanks to multiple new technologies and applications enabled by the spread of advanced networking technologies and intelligent devices. The ability to collect, manage, and analyze data from multiple sources is also becoming a critical element in new approaches to city management, as well as in the provision of better information to residents, visitors, and businesses.
The Executive Summary of the Smart Street Management report by Navigant Research states “The deployment of these digital technologies is changing how city streets are experienced by all users. The same technologies are also enabling better management of the city, improving services, and reducing the costs of maintaining streetscapes. Smart streets are part of the more general development of smart cities and the emergence of the Internet of Things (IoT), which together will drive rapid smart street management market growth over the next decade. According to Navigant Research, global smart street management revenue is expected to grow from $552.2 million in 2015 to $5.3 billion in 2024.”
The Smart Street Management report analyzes the global market for smart street management technologies, including smart solutions for street lighting, urban mobility, waste collection, and public safety. The study investigates the key market drivers, barriers, and regional trends associated with smart street management, as well as the emergence of new city management platforms. Global market forecasts of the smart street management technology market, segmented by region and service area (street management, street safety, and street mobility), extend through 2024. The report also examines smart street and smart city case studies and the competitive landscape related to smart street solutions. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results.
* The information contained in this press release concerning the report, Smart Street Management, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
