The FINANCIAL — IBM has been named the leader in the Smart City Suppliers market by Navigant Research, according to IBM, a multinational technology and consulting corporation.
With deep expertise in helping cities, IBM has worked with thousands of cities globally to help transform their systems and provide better service to citizens, the report says.
“IBM’s commitment to smart cities has become a key component of its broader Smarter Planet strategy. Its continued investment in research and development (R&D), products, and city engagements has allowed it to maintain its leadership position despite the growing number of heavyweight competitors,” says the report.
“IBM continues to be the leader in the Smarter Cities market, helping transform cities of all sizes,” said Michael J Dixon, PhD, general manager, IBM Smarter Cities. “Our collaborations range from massive and complex strategic projects, to highly focused initiatives using proven solutions that deliver measurable return on investment,” he added.
Navigant Research estimates that the global market for Smart Cities technology will grow from $6.1 billion annually in 2012 to more than $20 billion in 2020, a compound annual growth rate (CAGR) of 16.2%. This represents a cumulative investment of over $117 billion in smart city technologies between 2012 and 2020, according to IBM.
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