With over 1.31 Billion people, India is currently ranked as one of the most populous nations in the world, second only to China, and they don’t seem to be slowing down any time soon. According to a United Nation’s report, India is predicted to overtake China as the world’s most populous nation by 2022 and this will mostly be as a result of a population explosion in the urban regions with a projected estimate of 300 million residents.
These alarming stats have called for government to step up as in terms of infrastructural provisions andIoT Development to say this least. This increase in population would surely take its toll on existing infrastructure and environmental resources.
Read More How IOT Will Navigate The Future Of Smart Cities In India
According to a research report "IoT in Smart Cities Market by Solution (Remote Monitoring, Network Management, Reporting, and Analytics), Service, Application (Smart Transportation, Smart Building, Smart Utilities, and Smart Citizen Services), and Region - Global Forecast to 2025" published by MarketsandMarkets, the global IoT in smart cities market size is expected to grow from USD 113.1 billion in 2020 to USD 260.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.1% during the forecast period.
An increasing number of government initiatives and PPP models for smart cities are driving the IoT in smart cities market.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=215714954Increasing focus on traffic management and parking management would drive the adoption of IoT in smart cities solutions and services across smart transportation application during the forecast periodSmart transportation is all about integrating ICT with the existing transportation infrastructure, delivering real-time online information about the traffic flow and passengers/commuters.
The IoT in smart cities market is still in the introductory stage and can be defined as interconnected devices that the transportation and IoT solutions providers use to get more visibility into transportation and the associated other components, such as traffic management and parking management.
In the coming years, the demand for IoT in smart transportation is expected to increase due to the increased investments for enhancing transportation infrastructures.Rising need to monitor diverse facilities would increase the demand for remote monitoring solutions during the forecast periodThe IoT in smart cities market covers solutions such as remote monitoring, real-time location system, network management, security, data management, and reporting and analytics.
The remote monitoring solution is a reliable facility that enables efficient monitoring and management of various systems, remotely.
Through this solution, one can change the operation of the devices from the central office or remote location.
