Today, multiple segments have developed and continue to evolve around the application of intelligence in specific settings. We have moved from smartwatches, to smart glasses to smart appliances to smart clothing and beyond in a very short period of time. We have smart cities (including urban areas as well), smart buildings, smart homes, smart roadways (at a broader level it’s called smart infrastructure) and we have seen the entry of smart services. All of that and more are evolving into what some are calling the SMART movement. Very little analysis is being conducted at this high, meta level about the overall smart movement. That being said, examining each individual segment, each segments’ projected value, the estimated overall SMART movement market value comes out to be between $2.5 trillion USD (pessimistic) and $3.0 trillion (optimistic) by 2025. Given the continued Coronavirus (COVID-19) outbreak and its global economic implications, those figures would certainly have to be reduced. How much of a reduction is anyone’s guess at this point!
Large amounts of technology will be a part of each individual segment and when you add all of the individual segments up the amount of technology leveraged in the SMART movement will be massive. This will be far greater than the Internet era of the mid to late 90s.Much of this technology is new and we all know the challenges of dealing with new/immature technologies. The last thing any program or project manager wants is to have to deal with the ‘BETA’ version. Add to that, there is only limited program and project management experience delivering any of these smart initiatives with all of this new and emerging technologies.