Internet of Things, Artificial intelligence and Big Data, are rapidly creating places where individuals and tech can interact in unique, profound, and interconnected ways. Cities are not an exception: smart cities use data and digital technology to improve resident services and address public issues. It may result in enhanced mobility, connectivity, more comprehensive access, societal awareness, reduced violence, and enhanced sustainability.
A smart city consists of three layers: a technological foundation consisting of smartphones and sensors linked by high-speed communications systems and apps transforming input data into insights available for cities and the public. The worldwide market size for IoT in smart cities is projected to reach $347.6 billion by 2027, expanding at a CAGR of 18.8% during the projected period. Indian spending in Smart towns is likely to climb as it counters waste growth, traffic density, power distribution and water management.
It is anticipated that the expanding popularity of 5G, the global proliferation of smartphones, and the widespread popularity of IoT would accelerate mainstream smart city technology. There are now new ways in which this technology may transform cities. Here are some of the ideas that caught my attention:
1. Sluggish growth due to chip shortage
Developing IoT solutions has become more expensive due to the increasing demand and limited availability of valuable semiconductor chips. The pandemic has only exacerbated the issue. Even if the manufacturing of these chips has increased, chip scarcity will persist for quite some time. According to Forrester, the lack of semiconductors in 2022 would restrict IoT market growth by 10 to 15%.
2. Smart cities = smarter energy production
In addition to investing in sustainable energy, communities may use technology to track and optimise real-time energy usage. For example, the Coalition for Urban Transitions predicted in 2019 that cities may reduce their greenhouse gas emissions by around 90% by 2050 using established techniques and practices. It includes using sustainable and ethical materials, eco-friendly and resource-sensitive designs, renewable energy systems, and usage-adapting digital technologies.
3. The rise of low-power sensors and networks
Low-power, battery-fed wireless sensors or solar cells may offer crucial data for IoT networks, whether for water supply, energy, intelligent buildings, or logistics. In addition, LPWANs provide a long-range connection with the power capacity for decades, reducing the cost of deploying a monitoring network by eliminating the need for frequent battery replacement cycles.
4. Artificial intelligence for intelligent networks
IoT sensors are a tremendous addition to the machine learning workflow since artificial intelligence systems rely primarily on data. According to Research and Markets, the value of A.I. in IoT technology would reach $14,799 million circa 2026. For machine learning approaches to be successful, high-quality data is of utmost importance. Live data from IoT sensors tracking manufacturing equipment, for instance, may assist machine learning algorithms in determining when equipment will need maintenance in the future.
5. The proliferation of waste management sensors
Waste management primarily deals with municipal, hazardous, and industrial waste. Twenty million devices were added to water and waste management administration throughout 2019 and 2020. IoT devices will triple from 2019 to 2025 to manage waste and water. It is a trend that offers one of the most efficient approaches to cleaning our neighbourhoods and communities –using IoT-enabled intelligent technologies. IoT sensors measure the quantity of trash in each location, enabling sanitation staff to clear the trash along their routes. In addition, IoT manages level sensors, robotises waste management frameworks, and enhances them so businesses may save money and go green. IoT sensors offer a superior option for cities looking to envision connected, sustainable, and meaningful long-term growth. The global waste management market will reach 1.61 trillion U.S. dollars in 2020. The market will grow to 2.5 trillion U.S. dollars by 2030 as per Waste management market value worldwide 2020 | Statista.
6. Low-power wide-area networks (LPWAN) give way to personal local area networks (PLAN)
Innovative building LPWAN technology is finding its way into the house. While Wi-Fi and Bluetooth are the most prevalent intelligent home solutions, LPWAN technology is also utilised to offer dependable monitoring and configuration for various intelligent devices. With LPWAN technologies in smart speakers, for example, it is simple to connect intelligent devices to home networks.
7. Better traffic and parking management in urban areas
Additionally, IoT technology may aid in managing traffic congestion and ensuring the efficient operation of traffic volumes. For example, IoT motion sensors installed in strategic places divert traffic to less crowded sections based on real-time data from traffic signals. These sensors can also identify and warn occupants of potential dangers when the weather becomes foggy or hazy.
Moreover, as urbanisation increases, parking challenges often occur for automobiles in significant cities. Parallel parking has exacerbated the problem, increasing traffic on major roadways and other locations. For this reason, intelligent cities deploy IoT-based parking sensors that provide vehicle owners with real-time information on available parking spots.
8. Edge computing to address latency and security issues
In addition to reducing the latency of IoT technologies, edge computing offers the ability to improve data processing security. Suppose processing were to be done on an edge device or using zero trust-based systems rather than being sent to a centralised server. In that case, there are lesser possibilities for cybercriminals to intercept it. User information is shared with the edge device. The data is returned to users via a secure, trusted tunnel. The data is not retained in any storage facility in this scenario.
9. IoT for supply chain management and logistics
Moreover, intelligent sensor networks may be employed across the whole logistic chain to track items from the production, across a smart city, and onto the retail shop floor. With a standardised LPWAN technology, the same low-cost sensor that monitors meant through a production line can follow the item safely. At the same time, the goods are sent to an online distribution warehouse or shop before being delivered to a client. Finally, the data from the sensor is used to configure the intelligent home equipment and establish any warranties or guarantees.
10. The need for “smart citizens.”
Finally, intelligent cities amplify their ns’ voices (read opinions, ideas, expectations, and demands). Apps enable users to report local concerns in real-time, whilst community networking platforms allow individuals to pool and share resources. As a result, cities would transform into collaborative ecosystems with more engagement and transparency. Open data and developing technologies pave the way for human-centred and multidirectional cities — for all stakeholders (governments, corporations, and residents).
The future of IoT technology resides in each of these trends mentioned and beyond, with applications expanding to various industries, such as retail and indoor navigation. Additionally, it is essential to recognise that the Internet of Things is not a technology that operates independently — with zero intersections.
Combining technology such as IoT and A.I. is the key; it would help organisations foster innovation and stay competitive against challengers and rivals. To begin modernising your company’s infrastructure in preparation for the future, you need a clearly articulated vision and the determination to embrace this fantastic new world head. To join this vibrant and ongoing conversation, email me at Arvind@am-pmassociates.com