Smart city solutions empower city governments to acquire distributed city data and unify it while offering a platform to provide innovative solutions for effective city management. Frost & Sullivan’s recent analysis, Smart City Solutions Growth Opportunities, finds that the sector is evolving from aiming to create traffic management solutions to converging with industry participants creating solutions for data simulation, the sharing economy, social media, and mass transit.

A new study by Juniper Research has found that network operator spend on MEC (Multi-access Edge Computing) will grow from $2.7 billion in 2020, to $8.3 billion in 2025, as operators invest heavily in upgrading network capacities and infrastructure to support the increasing data generated by 5G networks.

Revenues generated by the use of Mobility-as-a-Service (MaaS) platforms, which integrate multi-modal transport services (including buses, taxis, rail and metro), will exceed $11 billion by 2023, a new study from Juniper Research reveals. This is up from an estimated $100 million in 2018 and is an average annual growth of 156 percent.

The market for the technologies that enable Smart Cities initiatives in Asia/Pacific (excluding Japan) is expected to reach $28.3 billion in 2018, according to the first-ever IDC Worldwide Semiannual Smart Cities Spending Guide. As these initiatives gain traction, IDC expects spending to accelerate over the 2016-2021 forecast period, reaching to $45.3 billion in 2021.