Applied Information Blog
The real return on investment (ROI) for Smart City Technology
When considering an upgrade or update of your transportation technology infrastructure, the investment you make should be not only wise but also forward-thinking. You should expect more than a single solution that solves a single need. Smart city transportation technology solutions allow you to gain added value with your investment. By anticipating future expenditures and requirements today, you can avoid costly upgrade expenses in the future. This ability creates a measurable return on your capital outlay.
Technology for today and tomorrow
Smart city technology is all about connection and integration. The ability for your transportation technology purchases to have over-the-air updates and wireless network capacity is key to earning a return on the investment. Without integration, technology purchases eventually become obsolete. Even big-ticket improvements will soon be considered inferior when it comes to dealing with tomorrow’s challenges. With smart city technology, you have the ability to connect your city, using technology and assets that can efficiently adapt to future growth.
A financially smart investment
True smart city technology should not only address the immediate and daily needs of your current transportation system but also deliver improvements and cost savings well into the future. For example, a city planner might look to solve their inefficiencies by building a new fire station, which could cost millions of dollars. However, for virtually the cost of a new fire truck, the same city could purchase a cutting-edge Preemption and Priority system that solves the same problem in a more efficient and cost-effective way. Furthermore, smart city investments are highly visible to citizens and motorists, so they’ll not only appreciate seeing that their tax dollars are well spent, but they’ll also benefit directly from the city’s investment.
Growing interest in modernization
Modernizing a city by building a path to a connected infrastructure is of growing interest, especially among the new generation of city and political leadership. They want to know how they can take advantage of the technology in their long-term planning, and the proactive investments they can make now, that will successfully carry them into the future.
Deploying smart city technology satisfies the basic functional needs like school zones, cabinet monitoring, and preemption. It also allows cities to leverage the higher functionality on the connected vehicle side, to satisfy the larger regional considerations. The most impressive part though, is that the technology is all-inclusive. With the integration, you gain a solution for today and plan for the future at the same time.