The era of Internet of Things is accelerating, and smart city technology is constantly maturing

2024-01-02

BergInsight, a global cutting-edge IoT market research provider, released a new comprehensive smart city technology report on June 7th, which includes in-depth research on five key technology areas - intelligent street lighting, intelligent parking, intelligent garbage collection, urban air quality monitoring, and smart city monitoring.

In 2020, the number of independently controlled intelligent street lights installed globally reached 13 million (excluding China). At the same time, the corresponding numbers for the intelligent parking and intelligent garbage sensor technology markets are 957000 and 657000, respectively.

Intelligent parking sensors refer to parking occupancy detection sensors installed on the ground or above, and intelligent garbage sensor technology includes liquid level sensor devices, which can be pre integrated into garbage bins and containers, such as serving as intelligent garbage bins or retrofitting existing collection points.

The intelligent street light market has now gained significant appeal, with its installation base expected to grow at a strong compound annual growth rate of 23.4%, reaching 37.4 million vehicles by 2025.

The installation quantity of intelligent parking sensors is expected to slightly slow down, increasing by 21.6% (CAGR), while the intelligent garbage sensor technology market will be the fastest growing among the three markets, with a CAGR of 29.8%.

A more emerging field of smart city technology is the unregulated urban air quality monitoring field, which includes increasingly small and low-cost air quality monitoring equipment that can serve as a valuable supplement to traditional regulatory monitoring stations. By 2020, the number of unregulated air quality monitoring devices installed in outdoor urban environments worldwide will reach 73000, and by 2025, it will exceed 300000.

Among the five covered smart city application fields, the largest is the smart city monitoring market, with a global market value of 9.9 billion euros in 2020. This market includes both fixed and mobile video and audio surveillance solutions, and is expected to grow at a compound annual growth rate of 19.7% throughout the forecast period.

According to Levi Osling, a smart city analyst at BergInsight:

"Just from the shipment volume of various smart city devices, it can be seen that China has surpassed most countries in the world in the past few years and has now formed its own alliance."

Outside of China, Europe has become a leading adopter of smart city technology, while North America is the second largest market. However, the North American smart city monitoring market is an exception, which was 27% larger than the European market in 2020.

When asked about the impact of the pandemic on the overall market, Austerlin continued, "Although in many cases, the deployment of publicly funded smart city technologies has been delayed due to the pandemic, more importantly, they have not been cancelled due to their increasing position as key infrastructure projects."

The pandemic has highlighted the benefits of remote infrastructure management and the need for smart city technology in many aspects, which should help the smart city market to recover strongly after a small short-term growth.

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