Smart cities market value to hit $2 trillion by 2025, says Frost & Sullivan

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The overall market value for smart cities will surpass $ 2 trillion by 2025, according to Frost & Sullivan – with artificial intelligence (AI) at the heart of it.

The analyst firm believes AI, alongside personalised healthcare, robotics, advanced driver assistance systems and distributed energy generation will be among the cornerstone technologies of future smart cities.

With more than 80% of the population in developed countries expected to live in cities by 2050, now is the time to act. According to a study from Counterpoint Research, which this publication examined earlier this week, there will be more than 125 million connected vehicles shipped by 2022.

The convergence of technologies – such as smart cars integrating with smart traffic lights – will be an important factor, but getting citizens engaged will also be key. Last month, Gartner put together a series of recommendations for local government CIOs in Asia, citing the importance of discussions between the government and its citizens. According to Frost & Sullivan, more than half of smart cities will be in China, generating $ 320 billion for its economy by 2025.

Europe will have the largest number of smart city project investments globally, according to the research, while the total North America smart buildings market – comprising smart sensors, systems, hardware and software – will surpass $ 5bn by 2020. The analysis also noted the rising importance in Latin America, citing Mexico City, Santiago, Buenos Aires and Rio de Janairo as active cities in this area. Smart city projects in Brazil will drive almost 20% of the country’s IoT revenue by 2021.

“Currently most smart city models provide solutions in silos and are not interconnected. The future is moving toward integrated solutions that connect all verticals within a single platform,” said Vijay Narayanan, senior research analyst at Frost & Sullivan in a statement. “IoT is already paving the way to allow for such solutions.”

You can find out more about Frost & Sullivan’s smart cities studies here. Latest from the homepage

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Frost & Sullivan: AI and big data hold keys to IoT security

AI and big data hold keys to IoT security, says Frost & Sullivan

A Frost & Sullivan report identifies key trends to address connected device security concerns.

Emerging technologies such as artificial intelligence, big data and context-aware computing could help in fixing the security problems associated with the IoT, according to a report published by analyst company Frost & Sullivan.

Its new report, Cybersecurity Innovations in the Connected World, says that pervasive security through context-aware access control is one of the future areas currently being explored by developers.

By using such technologies, developers can “accurately analyse user data at every node of the network, thereby delivering an all-in-one packaged security solution that offers user application and flexibility across any sector for optional interoperability in a connected world”, the analyst firm said.

Read more: HPE Aruba weaves new fabric for analytics-driven IoT security

Burgeoning biometrics

The report identifies the key technology development areas within cybersecurity ecosystems and highlights security and technology innovations, challenges, primary attack surfaces, major standardisation activities, and alliances that enhance security.

Frost & Sullivan TechVision senior industry analyst Swapnadeep Nayak said that, despite fingerprint technology’s higher growth and significant revenue contribution in the past, new technologies such as iris, face and vein recognition are witnessing strong adoption across industries.

“These new forms of biometric authentication are primarily focused toward improving the accuracy and flexibility of usage for end-users,” he said. “In addition, advanced analytics is playing a vital role in empowering businesses to draw fast, actionable insights from connected ecosystems while delivering granular segmentation for more accurate analysis.”

Read more: Security researchers warn of ‘airborne’ IoT malware, Blueborne

Data integrity and security

Confidentiality and integrity of data and systems can be compromised at any point of time by hackers attacking the connected ecosystem. These security breaches could lead to significant costs for enterprises by disrupting services thereby reducing satisfaction for customers and hampering brand image.

Security challenges often faced by organisations include lack of security standards, lack of comprehensive security solution to mitigate threats, and lack of cross-platform security technology.

“The lack of secured integrated systems for cross-industry applicability is hindering the adoption of Internet of Things. The future Internet of Everything is expected to leverage a common secure cloud infrastructure with a unified application programming interface (API) for all application sectors,” said Nayak.

The post Frost & Sullivan: AI and big data hold keys to IoT security appeared first on Internet of Business.

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Connected car shipments will hit 70 million by 2022, says Frost & Sullivan

A new report titled “Global Connected Car Market Outlook, 2017” by Frost & Sullivan forecasts global connected car shipments will increase from around 25 million to almost 70 million units by 2022.

According to the report, automotive suppliers – considering the potential in data explosion – are attempting to capture and sell car data by leveraging their software and hardware platforms. While over-the-air (OTA), human-machine interface (HMI) and connected services generate direct revenue streams, Big Data analytics will help save costs and accelerate returns on investments (ROI) for automotive original equipment manufacturers (OEMs).

Frost & Sullivan mobility analyst Siddhanth Kumaramanickavel, said: “A notable example of cross-industry collaboration is the integration of virtual assistants such as Amazon Alexa into the vehicle. This allows non-automotive players to invest in connected homes and cars. Companies like Maluuba, iNAGO, Promptu, Sensory and Baidu also are working on offering natural speech assistants, AI-enabled speech assistants, and voice biometrics to automotive manufacturers.”

The adoption of 4G LTE has increased connected car uptake and widened the subscriber base for telematics services. On the other hand, retention rates following free trials remain low. In order to attract more buyers, car manufacturers are experimenting with new service models such as product-as-a-service. Commission-based and transaction volume-based models will define revenue streams as businesses move toward this model.

Kumaramanickavel noted: “As North America and Europe are generating ROI from connected, automated and mobility-related services, OEMs are focusing on introducing the same experience in emerging regions.”

Another report titled “Connected Car Devices Market – Global Forecast to 2021” by Research and Markets projects the global connected car devices to grow at a CAGR of 16.3% to $ 57.15 billion by 2021. According to the report, the Asia-Pacific region is projected to witness the highest CAGR in the period. Latest from the homepage