The smart city solutions market is on the cusp of a significant boom as investments in upgrading telecommunication networks to 5G standards will drive growth in digitizing city infrastructure and services, a new research report from Frost & Sullivan states.
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.