Smart city projects, surveillance drive IoT growth
Connecting state and local government leaders
Spending on internet-of-things technologies and services worldwide is expected to reach more than $2 billion by 2023.
Internet-of-things technologies dedicated to public safety are booming, as governments look to integrate real-time monitoring, advanced analytics and improved decision making into their departments, according to recent market forecast.
The global market -- an amalgam of internet-connected devices, services and supporting software -- is currently valued at around $979 million, with more than half of that in North America. Growth from smart city projects and the use of connected surveillance systems is expected to push the market to more than $2 billion by 2023.
Other drivers include the increased adoption of machine learning that can sort through and understand real-time information from IoT sensors and the growth in autonomous systems that will benefit from more roadside technology. Use of IoT technology for disaster mitigation and recovery is expected to be of increasing importance, according to a statement by the industry analyst MarketsandMarkets.
Governments likely will need help to make such projects a reality, though. The system integration services part of the market -- which would include consultants to assist in bringing IoT technology onto a city’s network -- is forecast to also grow.
The market report looks at two components of the IoT market: the platform and the solution. The platform includes device management, application management and network management. It provides a central location where all the data can be stored and analyzed and from which applications that monitor, manage and control connected devices can be deployed.
A solution, meanwhile, is defined broadly as anything that helps the government “identify, prevent, respond, and prepare for an emergency event,” the report said.
Solutions use safety devices and IoT technology to help law enforcement and public safety agencies "monitor and manage criminal activities or emergencies in real time based on the evidence captured by digital devices, such as surveillance cameras and location tracking devices,” the report said. Most public safety solutions are offered in a single integrated suite that leverages the IoT platform to enhance operational efficiencies.
IoT growth is not without challenges. Managing and storing unstructured data and the lack of skilled workforce may slow adoption as will budget constraints.
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