Recent advancements in technology have progressed to the point where we have the ability to transform traditional cities into what is now known as "smart cities."
While the definition of a smart city continues to evolve, some things that have become clearer are that smart cities make the most of information and communication technologies to improve service levels, citizens' well-being, sustainability, and economic development.
Smart city technology can make cities more effective and efficient, which is necessary given the projected rapid growth in urban populations over the next few decades. And thanks to the over one trillion-dollar infrastructure bill that recently passed, increased federal funding and strong partnerships with city governments and private sector technology firms will further cement the reality of smart cities.
Expert forecasts reflect a future populated with smart cities as urban areas are growing much faster than rural and suburban areas. For example, the global smart cities market size is expected to reach USD 1.03 trillion by 2028, according to a new study conducted by Polaris Market Research, anticipated to register a CAGR: 14.4% from 2021-2028.
"The global market is witnessing promising growth as a result of proactive government smart city programs, increasing urbanization, and growing demand for higher-quality living," the Polaris report reads. "Furthermore, increased usage of technologies such as fog, cloud, and edge computing, AI (Artificial Intelligence), and big data analytics is posing new market growth prospects."
Global technology giant Qualcomm started their Smart Cities Accelerator program, which brings together a group of tech companies who are all focused on delivering smart end-to-end solutions for modern cities, spaces, and enterprises. The group includes system integrators, hardware and software providers, cloud solution providers, design and manufacturing companies, and more, now with over 400 participating tech companies as the program enters its third year.
The program has already collaborated on projects such as smart marine bases and naval fleet carriers, using vision intelligence and AI-infused cameras, but their next project may just be the biggest and most ambitious yet.
Today, Qualcomm Technologies, Inc. revealed plans to make New York's Times Square the epicenter of a brand new smart entertainment, hospitality, and retail experience, working with developer L&L Holding Company. Qualcomm Technologies will orchestrate the project, bringing together its ecosystem of Qualcomm® Smart City Accelerator Program members, including support from product and solution providers Zyter and Veea, bringing to life a breakthrough experience and modern take on one of the most iconic and recognizable locations in the world.
"Qualcomm Technologies is pleased to work with L&L Holding Company on plans to revolutionize Times Square with a brand new digitally transformed experience with our leading IoT solutions," said Sanjeet Pandit, senior director and global head of Smart Cities at Qualcomm. "This project will set the stage for the future of modernized retail and entertainment experiences, showcasing how technology can act as a catalyst in delivering enhanced and seamless experiences which are critical in the evolving digital economy."
TSX Broadway is envisioned to be a ground-breaking immersive building experience in the heart of Times Square, presenting a premium platform for the world's most imaginative and innovative tenants. The digitally transformed implementations bring the potential for numerous entertainment, performance, and interactive experiences in one of the world's most famous visitor locations while offering a compelling on-site experience for visitors, with the ability to easily engage and share their experiences across social platforms to capture memories that last a lifetime.
Plans for the TSX Broadway development include multiple IoT as a Service (IoTaaS) implementations through the Qualcomm® IoT Services Suite, delivering a one-of-a-kind visitor experience exploring a fusion of senses from visual, sound, physical, virtual, and augmented realities and much more, in addition to bringing unparalleled opportunities for businesses to captivate and engage a historic audience of global visitors numbering around 134 million per year.
"We are thrilled to be a contributor to one of the most visionary digitally transformed experiences of a celebrated venue with a hyper-converged network solution spanning Wi-Fi 6, IoT, edge computing with machine learning and AI, and one of the largest 5G private networks planned to date," said Allen Salmasi, chairman and chief executive officer, Veea Inc. "Veea's hybrid edge-cloud platform, built on Qualcomm Technologies' edge solutions, is uniquely suited to provide support for the automation and monitoring of smart spaces and building management functions, edge intelligence, AR and gamification of immersive experiences with targeted advertising, and more."
Qualcomm Technologies and L&L Holding Company are exploring a myriad of IoTaaS implementations, including state-of-the-art connectivity infrastructure with 5G and WiFi 6 networks powered by Qualcomm Technologies, digitized and immersive indoor and outdoor experiences anchored on 5G, and central control and command center with an experience management system. They'll also be experimenting with smart venues, smart retail spaces, and a smart hotel.
Qualcomm and L&L will also be exploring ground-breaking use cases, which include enabling interactive AR with immersive content for site tours, entertainment, dining, retail, and more, as well as hosting multiplayer VR and digital gaming with live audience participation. They'll also attempt to transform visitor experiences with premium content engagement, live streaming 4K video, and real-time multimedia sharing delivered through ubiquitous 5G connectivity.
The STSX implementation is estimated to be unveiled at the end of 2022.
"We are looking forward to working with Qualcomm Technologies to deliver an extraordinary digital experience at TSX Broadway," said David Levinson, chairman, and chief executive officer, L&L Holding Company. "Bringing the full spectrum of smart technology to our building and Times Square will allow us to celebrate the neighborhood's iconic entertainment history while unleashing a new era of innovation."
Edited by Luke Bellos