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Smart City Technologies Will Generate More Than $117 Billion in Revenue between 2013 and 2020, Forecasts Navigant Research

  Smart City Technologies Will Generate More Than $117 Billion in Revenue
  between 2013 and 2020, Forecasts Navigant Research

Business Wire

BOULDER, Colo. -- May 23, 2013

With the pace of urbanization accelerating around the world, smart city
initiatives – which integrate technology into a strategic approach to
increasing sustainability, improving citizen well-being, and spreading
prosperity – are expanding rapidly among municipal governments seeking to cope
with crushing demand for services, living space, transportation, and
employment. According to a recent report from Navigant Research, revenue from
smart city technologies will surpass $20 billion in 2020, with a cumulative
total of $117.3 billion from 2013 to 2020.

“The smart city is becoming a space for the testing and implementation of
cross-functional technologies and solutions,” says Eric Woods, research
director with Navigant Research. “Among city leaders, there is growing
awareness that the high-growth industries of the future will be closely linked
to the development of information and communication technologies and services,
as well as innovative clean technologies.”

Funding remains the critical issue for large-scale deployment of smart city
solutions, according to the report. The development of a range of financial
models that allow cities to invest in innovation will be crucial to the next
phase of this market. For this reason, interest in devising appropriate new
service models is increasing.

The report, “Smart Cities”, examines the evolution of the smart city market,
detailing the impacts on key technology markets, including smart grids, water
management, transportation, building energy efficiency, and government
services. It also compares approaches to the smart city in North America,
Europe, Asia Pacific, and the Middle East and provides detailed profiles of
major smart city projects in each region. The report includes forecasts of the
size and growth of the market for smart city technologies through 2020,
segmented by key smart city industry sector and by region. An Executive
Summary of the report is available for free download on the Navigant Research
website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market
research and benchmarking services for rapidly changing and often highly
regulated industries. In the energy sector, Navigant Research focuses on
in-depth analysis and reporting about global clean technology markets. The
team’s research methodology combines supply-side industry analysis, end-user
primary research and demand assessment, and deep examination of technology
trends to provide a comprehensive view of the Smart Energy, Smart Utilities,
Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional
information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated
to assisting clients in creating and protecting value in the face of critical
business risks and opportunities. Through senior level engagement with
clients, Navigant professionals combine technical expertise in Disputes and
Investigations, Economics, Financial Advisory and Management Consulting, with
business pragmatism in the highly regulated Construction, Energy, Financial
Services and Healthcare industries to support clients in addressing their most
critical business needs. More information about Navigant can be found at
www.navigant.com.

* The information contained in this press release concerning the report,
“Smart Cities,” is a summary and reflects Navigant Research’s current
expectations based on market data and trend analysis. Market predictions and
expectations are inherently uncertain and actual results may differ materially
from those contained in this press release or the report. Please refer to the
full report for a complete understanding of the assumptions underlying the
report’s conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any of the
information contained in this press release or the report.

Contact:

Navigant Research
Richard Martin, +1-303-493-5483
richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336
laverne.murach@navigant.com
 
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