A new study from Juniper Research, the leading experts in the IoT and sustainability market, has selected New York as the leading smart city in North America in 2023.
The top 5 smart cities ranked by Juniper Research are:
1. New York
2. Toronto
3. Montreal
4. Chicago
5. Los Angeles
Juniper Research's 50 World Cities Ranking is based on an assessment of many different aspects of smart cities, including transportation and infrastructure, energy and lighting, city management and technology, and urban connectivity.
The analysis identified New York as a leading city due to its focus on increasing sensor deployment, modernizing its transit infrastructure, and its progress in implementing smart grids. As such, it was recognized that New York has a clear vision of its future as a smart city, which is essential for other cities to develop if they wish to emulate its success.
Research co-author Nick Maynard explained: “The Americas are led in terms of smart cities by North American cities, and Latin America lacks the comprehensive data infrastructure that is being built in North America. As such, Latin American cities must build longer-term visions that focus on how to holistically leverage data to improve urban environments, or they will continue to lag behind.”
For more details, check out the new report, Smart Cities Market: Growth, Market Trends, and Forecasts 2023-2028, or download a free sample.
Increased spending on smart cities in the Americas
• Hardware and software spending on smart city deployments in the Americas is forecast to reach $23 billion by 2028, from $9.5 billion in 2023; representing a growth of 144%.
• Spending is growing much faster in Latin America, at 285% over the next 5 years, compared to North America at 115% over the same period.
This faster growth in Latin America reflects the great emphasis being placed on city improvements in this market, and represents a key opportunity for smart city service providers, platforms and connectivity providers to target.