Government // Leadership
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1/16/2014
12:28 PM
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Internet Of Things: 8 Cost-Cutting Ideas For Government

Cisco says tech's new trend darling could mean $4.6 trillion in savings and revenue to governments worldwide during the next 10 years. Examine the ideas.
2 of 9

1. Smart Parking 
Potential 10-Year Value: $41 billion
Smart parking systems would provide real-time visibility into the availability of parking spaces across a city.  Residents could identify and reserve the closest available spaces. Traffic wardens could recognize non-compliant usage. And municipalities could introduce variable pricing.

• New things created: Connected parking spaces, parking meters
• New data flows: Space availability
• Process innovation: Pricing and payments, enforcement, finding parking spaces
• People impact: Traffic wardens, citizens, drivers, city planners
The potential value from the Internet of Everything would come from a projected 30% increase in compliance, the sale of city data, reduction in traffic congestion, and increased revenue from dynamic pricing.
Source: Cisco Consulting Services
Image: Wikimedia Commons

1. Smart Parking
Potential 10-Year Value: $41 billion

Smart parking systems would provide real-time visibility into the availability of parking spaces across a city. Residents could identify and reserve the closest available spaces. Traffic wardens could recognize non-compliant usage. And municipalities could introduce variable pricing.

• New things created: Connected parking spaces, parking meters

• New data flows: Space availability

• Process innovation: Pricing and payments, enforcement, finding parking spaces

• People impact: Traffic wardens, citizens, drivers, city planners

The potential value from the Internet of Everything would come from a projected 30% increase in compliance, the sale of city data, reduction in traffic congestion, and increased revenue from dynamic pricing.

Source: Cisco Consulting Services

Image: Wikimedia Commons

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Laurianne
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Laurianne,
User Rank: Author
1/16/2014 | 1:48:53 PM
Road pricing
Dear Cisco and city government leaders: Most people are not going to like the thought of automated parking tickets and special tolls for high-traffic roads.   
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