J'son & Partners Consulting presents results of an updated study dedicated to the state and prospects of the Smart City solutions market in Russia and the world.
The main factors contributing to the growth of the market are:
- High urbanization rates in a number of countries of the world;
- Introduction of new mobile communication standards;
- High development rates of the global Internet of things market;
- Reducing the cost of implementing Smart City solutions;
- Government support of the Smart City ecosystem development in a number of regions of the world, as well as increasing demand for solutions at the level of city administrations, and other factors.
The main barriers to implementing Smart City solutions are:
- The fact that a significant number of Smart City solutions are still being tested and marketed and are not ready to scale;
- Too high prices of large-scale Smart City solutions implementation in developing countries;
- Insufficient development of local ecosystems that cannot support Smart City solutions implementation in developing regions of the world;
- Lack of a strategic vision for the prospects of Smart cities and municipalities in a significant part of medium and small cities;
- Lack of qualified personnel and a number of other factors.