We recently touched on some of the best vertical markets for Telecoms going forward.
And while we didn’t mention Smart Cities, it’s worth discussing this topic in more detail.
You see, Smart Cities may not be a new concept, but the pressures on transportation systems, pollution, energy consumption, and environmental sustainability are more pressing than ever. With this in mind, innovative technologies are paramount to addressing the challenges presented. And these technologies are all supported by Telecoms providers, thus offering them an opportunity for joint growth.
For Telecoms, investing in smart city initiatives is beneficial in many ways. By providing broadband services to urban areas, they can open up a host of opportunities for businesses and citizens alike. Fast and reliable internet speeds enable businesses to deliver goods and services quickly while allowing citizens to access healthcare services remotely or work from home with ease. Furthermore, these same broadband networks can facilitate communication between emergency services and populations during natural disasters or heightened security risks.
The next generation 5G network offers even faster speeds than before, opening up even more possibilities for Telecoms providers in smart cities. This ultra-fast connection gives companies the ability to develop technologies like automated traffic control systems, which help reduce congestion, as well as telemedicine applications which provide improved healthcare options via connected medical devices, such as wearables that monitor patients remotely, reducing hospital visits and improving the quality of life for many citizens.
In addition, Telecoms providers eager to offer such services have an opportunity to contribute towards reducing air pollution levels in cities thanks to the faster response times enabled by 5G connectivity. Through machine learning algorithms combined with Internet of Things (IoT) sensors, they can help optimize energy usage across buildings resulting in cost savings while reducing carbon emissions at the same time. Moreover, intelligent solar panel systems integrated into Telecoms networks can provide an efficient way of harvesting renewable energy. Green initiatives such as e-mobility are slowly becoming more popular thanks to increased uptake in electric vehicles that are now much easier to charge using mobile networks connected charge points around cities.
Ultimately, transforming cities into “smart cities”, i.e., efficient hubs for long-term development that bring improved living standards coupled with a reduced environmental impact on society as a whole, can benefit both citizens and Telecoms providers. For the former, the gain is a substantially improved standard of living, while for the latter, the aim is to gain the respect of the public and increase their profits. This is clearly a case of joint growth.
