According to IHS the cumulative global volume of cellular M2M connections used in smart city applications will rise from about 18.6 million connections in 2014 to roughly 162.7 million connections by 2020, representing a 43.5% compound annual growth rate (CAGR) over this period.
IHS forecasts that the annual revenue from cellular M2M connectivity services in the smart cities market will rise from $545.8 million globally in 2014 to $2.5 billion globally in 2020, at a CAGR of 29.0% over this period.
IHS forecasts that the annual revenue from cellular M2M-based, end-to-end services in the smart cities market will rise from $5.7 billion annually in 2014 to $25.4 billion in 2020, at a CAGR of 28.4% over this period.
IHS recommends that operators partner to reduce their various risks in the smart cities market, utilize multiple connectivity technologies (especially low power wide area networking [LPWAN]) and not simply cellular, and broaden their view beyond M2M-type uses cases to account for the integration of other government and private databases and crowd-sourced social media feeds.
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