How service providers can monetize smart cities

How service providers can monetize smart cities

How service providers can monetize smart cities
Service providers (SPs) hold the key to successful smart city projects by managing the essential network connectivity. But there can be confusion over how best to monetize these ambitious initiatives.

Urbanization is at the center of 21st century life. Just over half of the world’s population lives in cities today, and that figure will grow to two-thirds by 2050. With that comes huge economic, public health, environmental and other challenges. Part of the answer lies in the creation of data-driven smart city projects that can help forward-looking local authorities deliver public services to citizens more efficiently.

The question for Service Providers is: What role does you have in driving these projects? And how can you monetize them most effectively? 

Nearly every aspect of a modern city can be improved through the use of smart technology or the internet of things (IoT). That’s everything from lighting and waste collection to policing and parking.

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Most projects today take the form of public-private partnerships (PPPs), with key participants being the city, a Service Provider, and technology solution partners. These often have many moving parts. But their real value is bringing together expertise not available inside the city administration to create innovative solutions that can tackle the problems of modern urban life.

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