Honeywell (NYSE: HON) has invested in Trinity Mobility Private Ltd., an India-based software provider for smart cities. The deal will allow operators to better assess, operate and manage the city’s connected infrastructure, according to the two companies.
“Many of the world’s cities are facing significant operational and sustainability challenges stemming from urbanization, including unexpected crises, infrastructure issues, environmental and safety concerns, and the expanding needs of citizens,” says Vimal Kapur, president and CEO, Honeywell building technologies. “The combined capabilities of Honeywell and Trinity can allow cities of all sizes to improve services and provide a better experience for their citizens. In addition, the data generated from these technologies can help improve cities’ ability to plan, helping create a more hospitable and liveable environment for its citizens.”
According to the UN Department of Economic and Social Affairs, 68 percent of the world’s population will live in urban areas by 2050, compared to 55 percent today. Overcrowding, traffic congestion, security concerns, as well as rising water and demand for utilities, are driving the need smart city technologies. This includes sensors, Internet of Things, security and cloud-based software that can capture and analyze and provide real-time information and insights that can boost safety, security and energy efficiency.