A new Leaderboard Report from Navigant Research examining the strategy and execution of 16 leading smart city suppliers identifies Council Lead Partners Cisco and IBM as the leaders in the smart cities technology market.
The researchers analyzed vendor profiles, ratings and rankings, with the goal of providing industry participants with an objective assessment of the companies’ relative strengths and weaknesses in the growing global smart city market. Navigant forecasts that market will be worth more than $27 billion annually by 2023.
“Efforts to make cities smarter, more livable and cleaner continue to grow, driven by a range of social, economic and technological developments that are having an impact on cities around the world,” says Eric Woods, research director with Navigant Research. “Cities are seeking partners and suppliers to collaborate on ambitious programs for sustainability, innovation in public services and economic development that depend on significant technology investments.”
Building on their early leadership
Navigant notes that both Cisco and IBM have been able to build on their early leadership in the market. IBM, the researchers say, continues to combine a pragmatic approach to city engagement with its development of smart city platform solutions. And Cisco’s partner network provides an important source of innovation in the market, Navigant says.
But two other Council members – Lead Partner Microsoft and Associate Partner Schneider Electric – are coming on strong as competition in the market increases. The Leaderboard Report puts Schneider as leader of the group of Cisco and IBM contenders, but also notes that thanks to its CityNext initiative, Microsoft made the biggest jump in the ratings from the 2013 Smart City Leaderboard.
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