Our latest GovTech Solutions Series paper is available. Today’s paper explores the second principle of creating a truly smart community and discusses investment in Internet of Things devices.
A community must invest in Internet of Things devices to generate real-time data.
Internet of Things (IoT) is a concept that describes how everyday objects are connected to the Internet using an IP address. IoT sensors are increasingly small and flexible allowing them to be connected to almost anything — for governments, this includes public infrastructure like traffic signals, street lights, air and water quality sensors, and much more.
IoT is a fast-growing and fast-developing technology. Gartner estimates there are more than 14 billion connected things in use this year and predicts there will be 25 billion by 2021 — just 18 months from now. IDC predicts that $745 billion will be spent worldwide on IoT technology in 2019 and that number will continue to increase, surpassing $1 trillion in 2022. Meanwhile, sensor costs are decreasing, in 2020 the average cost per sensor will be just 38 cents.
The lower cost per sensor makes securing budget to invest in the technology easier and allows governments to put sensors in greater “spans” of infrastructure. As more and more benefits are reported by early adopter governments, the justification for the technology investment is easier to make. And of course, citizen expectations only grow over time because consumers are increasingly exposed to the potential and benefits of smart devices in their everyday lives.
What is the best strategy for today’s government CIO or technology professional, ready to invest in IoT to make their community smart?
· First, be prepared to dedicate part of the overall technology budget to investment in IoT devices.
· Second, have a clear vision and plan for how IoT devices will be deployed and used, and how the results of that effort will be measured and reported.
· Third, make sure there is a plan to capture and use the data that will be generated by the new devices.
You can read the full Solutions Series paper online. Future articles will examine the next two principles for creating a truly smart community. If there are topics you would like to hear about let us know. You can contact us directly or Tweet to @csdc_systems using the hashtag #GovTechSolutions or # SmartCommunity .
If you are working to build a smart community and we can help you, contact us today to set up a demo of our Amanda Platform.