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In the smart cities space, this issue could add hundreds of billions of dollars in costs to smart cities projects around the world, Machina Research predicted:Deploying IoT solutions without interoperability standards would add $341 billion in costs to smart city deployments worldwide by 2025, the report said. With such non-standardized solutions, global implementation costs for smart cities projects would be $1.12 trillion over that time period. Cost is already a major challenge for smart cities as projects, as municipalities are often squeezed by tight budgets. In this report we will also:Define the difference between connected vs smart cities. Identify key challenges for municipalities in developing smart cities and illustrate how some cities are already solving those obstacles.
Persons: Jonathan Camhi Organizations: Intelligence, Machine Research, Research, Business, BI Intelligence Locations: Barcelona
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