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