Microsoft and Intel are partnering with Houston on startup accelerator program for smart cities technology to solve the transportation and disaster problems which will influence the global smart cities market in upcoming days.
Global: Microsoft and Intel are collaborating on a Houston program aimed at helping companies developing sensors, robotics and other technologies that focus on big-city problems such as transportation and disaster response. The Ion Smart Cities Accelerator, a partnership of the two tech giants along with startup hub Station Houston and the collaborative manufacturing workspace TXRX Labs. It will provide six months of structured curriculum and six months of pilot programs to companies developing internet of things technologies that can be used in cities. The accelerator will be housed; focusing on developing smart-city technologies in Houston makes sense considering the wear on the city’s infrastructure, as the US’s fourth largest city tries to accommodate the large number of new residents that move to it each year.
According to BlueWeave Consulting, growing urban population, need to better manage limited natural resources, and increasing focus on environmental sustainability will foster the global smart cities industry. Smart city technology has been widely adopted in recent years to improve public safety which can range from monitoring areas of high crime rates to improving emergency preparedness with sensors and many more. Smart city encompasses optimization of the efficiency of city operations and services, and connected citizens. Smart city technology enables city officials to interact directly with both communities and city infrastructure, and monitor what is happening in the city and how the city is evolving.
Smart city initiatives are applicable to urban developed cities, for the efficient management of assets and resources, such as traffic and transportation systems, power plants, water supply networks, waste management, information systems, schools, libraries, hospitals, and other community services. In smart cities, IT technology is used to develop critical infrastructure of a city, including various facilities such as smart transportation, smart water, smart building, smart energy, smart security, smart education, and smart healthcare and smart governance. It necessarily focuses on integrating infrastructure, social and human capital, and disruptive technologies to build a sustainable economy and participatory governance. Growing adoption of technologies such as Internet of Things (IoT), cloud computing, big data, cognitive computing, and open data will propel the global smart cities industry in upcoming time frame.
According to BlueWeave Consulting’s report, Titled-“Global Smart Cities Market by Component (Hardware and Software) by Application (Smart Governance, Smart Utility, Smart Infrastructure, Smart Healthcare, Smart Security & Threat, Smart Education, Smart Building) size and forecast 2014-2024”- The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence (AI), personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, increase in residential preference towards adoption of advanced information and communication technologies (ICT) escalates the future market growth.
With the rise of innovation and digitalization of industry applications, particularly in the residential sector, countries across the globe are actively looking for solutions to balance economic, technological and social development. With increase in population, data is also becoming more readily available now-a-days.
According to BlueWeave Consulting’s recent report, Titled-“ Global Traffic Management Systems Market Size, By Components (Hardware, Software and Services), By Solution (Smart Signaling, Route Guiding, Traffic Analytics), By Application (Urban Traffic Management Systems, Adaptive Traffic Control Systems, Journey Time Management Systems, Dynamic Traffic Management (DTM) System and Incident Detection & Location Systems), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Growth Potential, Trends Analysis, Competitive Market Size and Forecast, 2015-2025”- The Global Traffic Management Systems market is estimated to grow at a significant rate, during the forecast period 2019-2025 owing to the government initiatives across the globe for improving the effective management of traffic in way of reducing pollution, stimulating social and economic development by reducing the time spent by their populations on roads and maintaining their limited road networks connectivity to be run smoothly. In addition, the increase in high demographic growth and hyper-urbanization in developing countries is anticipated to boost the demand for Traffic Management Systems in the coming years.