InterDigital's Chordant Business Named as Key Smart City IoT Platform Provider by ABI Research
Global Smart Cities IoT technology revenues are to exceed US$60 billion by 2026 according to a recent report by ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies. The report, titled “Smart City Market Data,” provides an in-depth understanding of connections, technologies, and revenues across all major Smart City segments, as well as insight into the ecosystem in terms of suppliers and initiatives.
ABI Research highlights InterDigital’s Smart Cities-focused business, Chordant™, as a key Smart City IoT solutions and platforms provider alongside industry-leading peers that include Cisco, PTC, Microsoft, Huawei, Nokia, NVIDIA, Verizon, Siemens, IBM, SAP, and Amazon. The firm states that only IoT technology suppliers that are addressing specific challenges cities are facing will win, and critical success factors include ecosystem support, standards-based interoperability, guaranteed technology lifecycle management, and more.
The report also cited the fastest growing verticals include EV charging stations and micro-grids, smart waste management and environmental sensors, smart parking, and smart street lighting. In another recent report on Smart Cities and Cost Savings, commissioned by InterDigital, it was found that smart street lights are expected to cut repair and maintenance costs by 30 percent, contributing to potential savings as much as $4.95 billion annually for governments.
Reports such as these from ABI Research reinforce how important the role of Smart Cities will be in both economic and social terms for our future. However, it is imperative that governments, enterprises, and citizens work together to deliver the true potential of Smart Cities.