While it will take quite some time for all of the various smart cities technologies to find broad adoption, some parts of the market are already sizable and are now growing at a rapid pace.
Take smart windows as an example. Mark Mendenhall, chief commercial officer at View Dynamic Glass, thinks his firm’s target market will be worth $100 billion.
“For us, a ‘lazy’ goal would be 10% of that market, or $10 billion,” he says. And that $100 billion target market may prove to be conservative. “We eventually think this is where the whole market is going,” adds Mendenhall.