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IoT deployments will create $US421 billion in economic value for cities worldwide in 2019

That economic value will be derived from revenues from IoT device installations and sales and savings from efficiency gains in city services. Globally, cities’ investments in IoT technologies will increase by $97 billion between 2015-2019. This will make up the bulk of government investment in IoT technologies, dwarfing the amount of money spent on other government IoT use cases like military drones and robots. The number of IoT devices installed in cities will will increase by more than 5 billion in the next four years, creating a massive opportunity for IoT hardware manufacturers and software vendors.

IoT technologies will deliver a broad range of benefits for cities and providing new ways for governments to interact with their citizens. Smart city spans a wide variety of use cases, from traffic management to water distribution, to waste management, urban security and environmental monitoring. Its popularity is fueled by the fact that many Smart City solutions promise to alleviate real pains of people living in cities these days. IoT solutions in the area of Smart City solve traffic congestion problems, reduce noise and pollution and help make cities safer.

One area that has the potential to be positively impacted by IoT technology is transport. Future cities are likely to include smart transport services for journey planning and shared transport assets.

However, IoT technology is potentially even more sophisticated than this. 'The smart building', where photovoltaic generation takes place, may adapt to known journey patterns, and divert locally generated power to be available in advance of likely usage. This will reduce expenditure, make transport more affordable, and drive down the carbon footprint of the community.

Smart buildings will be able to react to information derived from sensor networks across the city to adjust ventilation and window settings based on the cross-referencing of pollution levels and prevailing weather conditions in the locale. The potential to change lives is tremendous and IoT technology, embedded within the building, will support the needs of older and vulnerable people enabling them to live within their own communities for longer, therefore supporting social cohesion.

Smart lighting solutions will mimic the spectral characteristics of natural daylight in the home, office, or ward, helping to maintain the natural circadian rhythm and general well-being of those who are required to remain indoors. As IoT functionality becomes embedded in everyday items such as light bulbs, switches, utility meters, and other appliances, digital health systems to support vulnerable people will be a simple software configuration of that pre-existing hardware.

IoT will not only take care of your indoor environment; external aspects of life will also be enhanced. Improvements might involve being alerted to an open parking space that will fit your car size as you cruise up to a building. Once you have parked, you will be able to enter your home or workplace safely, as sensor networks, using a combination of audio, video, and vibration detection devices, will have detected unauthorized individuals entering restricted areas. IoT systems can also track the whereabouts of various items in a building through geo-location.

IoT innovation for Smart Cities is now a worldwide phenomenon

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