Kurt Steward discusses in his article “Driving the future of smart cities with IoT,” the potential for new generations of IT systems to carry smart city development farther and faster than what anyone has ever imagined. Although the concept of smart cities has been around for nearly a decade, there have been many surprises and changes with the continued use of IoT.
The smart city market is just beginning, and is soon expected to grow, providing new growth opportunities for governments, cities, and businesses across the world.
Governments have been investing in IoT to find sustainable ways to evolve and promote urban growth. Some issues that IoT works to solve within urban areas are cost of housing, transit, environmental sustainability, and connectivity. Information Age states that, “Cities and governments are turning to IoT because it is a multi-dimensional asset. Solutions commonly support improved savings and efficiencies, but can also help to develop new products and revenue streams, new understandings of processes and customers, and new intelligence to drive business expansion.”
As we can see, IoT is driving towards the development and future of smart cities.