© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - The Smart City Technology Market is Expected to Be Worth More Than $27.5 Billion Annually by 2023
Posted 13th February 2015

The Smart City Technology Market is Expected to Be Worth More Than $27.5 Billion Annually by 2023

A recent report from Navigant Research examines the strategy and execution of 16 leading smart city suppliers.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

The Smart City Technology Market is Expected to Be Worth More Than $27.5 Billion Annually by 2023
Image

The Smart City Technology Market is Expected to Be Worth More Than $27.5 Billion Annually by 2023

A recent report from Navigant Research examines the strategy and execution of 16 leading smart city suppliers, including vendor profiles, ratings, and rankings, with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the growing global smart city market.

“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”
The smart city concept is a framing device for many of society’s most important conversations about globalization, technology, and the environment, which is driving investment across a range of city services and infrastructure. As the supplier ecosystem for smart cities continues to expand, established suppliers are moving into the market from the energy, transport, buildings, and government sectors, while startups are addressing a range of emerging opportunities.Click to tweet: According to a recent report from Navigant Research, the global smart city technology market is expected to grow from $8.8 billion annually in 2014 to more than $27.5 billion by 2023.

“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,” says Eric Woods, research director with Navigant Research. “The leading players in this market not only have the capacity to provide leadership on large-scale projects spanning multiple city requirements, but they are delivering smart infrastructure, IT, and communications solutions to cities, supporting cities across multiple operational and infrastructure issues, and have established a global presence.”

The leaders in the market, according to the report, are IBM and Cisco, which are ranked the highest in terms of strategy and execution and are continuing to build on their early leadership in the market. IBM combines a pragmatic approach to city engagement with its development of smart city platform solutions, while Cisco’s partner network provides an important source of innovation in the market.

The Navigant Research Leaderboard Report: Smart City Suppliers examines the strategy and execution of 16 leading smart city suppliers with the capacity to provide leadership on large-scale smart city projects spanning multiple operational and service areas. These smart city suppliers are rated on 10 criteria: vision, go-to-market strategy, partners, product strategy, geographic reach, market share, sales and marketing, product performance and features, product integration, and staying power. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the growing global smart city market. An Executive Summary of the report is available for free download on the Navigant Research website.

Categories: Finance


You Might Also Like
Read Full PostRead - Eye Icon
How Your Business Can Benefit from UI Design
News
06/10/2021How Your Business Can Benefit from UI Design

Are you interested in hiring a UI designer to take your business to the next level? Here we are going to take a look at the different reasons why you should invest in a UI professional.

Read Full PostRead - Eye Icon
US buyers set sights on UK market
Finance
22/01/2018US buyers set sights on UK market

US buyers set sights on UK market

Read Full PostRead - Eye Icon
7 Steps to Efficiently Build Your Team in a Short Timeframe
News
16/05/20237 Steps to Efficiently Build Your Team in a Short Timeframe

Whilst many organizations can allow for steady, organic growth of their workforce as their brand develops and work picks up, in an ever-changing world such as tech, sometimes it is necessarily to respond to changing needs with rapid work force development.

Read Full PostRead - Eye Icon
IdeaScale Acquires InnovationManagement.se to Enhance Comprehensive Innovation Offering
Innovation
10/02/2016IdeaScale Acquires InnovationManagement.se to Enhance Comprehensive Innovation Offering

IdeaScale, the California-based innovation management solution, today announced its acquisition of InnovationManagement.se (IM), the world's leading platform for cutting-edge innovation management content, best practices and online training programs.

Read Full PostRead - Eye Icon
11 Tech Tools to Get You Through a Recession
Innovation
05/08/202211 Tech Tools to Get You Through a Recession

As the stresses of an impending recession grow, business owners are strategizing how to survive this economic uncertainty by re-evaluating current and future expenses. For example, software subscriptions that once felt necessary may seem like a “nice to have

Read Full PostRead - Eye Icon
Henry Schein to Acquire RxWorks
M&A
12/01/2016Henry Schein to Acquire RxWorks

Henry Schein, Inc, the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, announced an agreement to acquire RxWorks.

Read Full PostRead - Eye Icon
Fourth Quarter Update: A 2015 Year End Round-Up
Finance
26/02/2016Fourth Quarter Update: A 2015 Year End Round-Up

Founded in 1982, Global Prior Art is an established leader which is widely known by its trademark “The Most Trusted Name in IP Research.”

Read Full PostRead - Eye Icon
5 Tips For Relocating Your Business To Georgia
Strategy
04/02/20215 Tips For Relocating Your Business To Georgia

Whether it’s because of the GRAD program, the 6 percent corporate tax rate, or one of the many grants and loans available for business relocation, many businesses decide to move to Georgia. Georgia is home to Google, NCR, UPS, General Mills, Boeing, and Home

Read Full PostRead - Eye Icon
4 Things to Do to Improve Your Finances
Finance
28/06/20214 Things to Do to Improve Your Finances

We are all looking for quick ways that will give us some financial stability back into our lives after the craziness of the last year. We could all do with a little savings boost that will give us a cushion to fall back on should we need it. If you are looking



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow