Guimarães, 24 March de 2022 – STRATOSPHERE S.A. (STS), a leading global provider of advanced Cyberphysical systems, announces the Kick-off of operations of STRATOSPHERE TECHNOLOGIES ASIA Pte. Ltd. (STS-ASIA) based in Singapore as result of extensive evaluation of the Smart-Cities Market in Asia. The new company will deploy and develop technology and products focused on the Asian Markets.
According to the latest market reports the Smart Cities Market will reach USD 992.59 billion by 2027. The Global Smart Cities Market is valued presently by USD 401.58 billion and is anticipated to grow with a healthy growth rate of more than 13.8 % over the period 2021-2027. The regional strongest growth of global Smart Cities market is considered in key regions such as Asia Pacific, North America, and Europe. Asia-Pacific is anticipated to exhibit the highest growth rate over the period 2021-2027.
Smart Cities are cities which use intensely Information and Communication Technology (ICT) and Advanced Analytics (AI) to share information with public to improve operational efficiency and provide better public service, and citizen welfare. The demand for efficient and fast transport and commuting will fuel the smart cities market growth. Also, increasing demand for healthy environment with efficient energy consumption and growing government investments in infrastructure will be major driving factors for smart cities market. Until now, high cost of implementation impedes the growth of the market over the values forecasted for 2021-2027. Also, with the increasing deployment of 5G network, the demand for Smart Cities is likely to increase during the period.
STRATOSPHERE (STS) has a unique combination of beyond state of art technology focused on the advanced analytics and cyberphysical systems that provides an infrastructural approach to Smart cities applications, mainly on TELCO, critical city infrastructures and buildings. The company as a strong background on AI technologies and Analytics carefully crafted into advanced products such PRODDIA IS with focus on the Smart Cities and Infrastructures applications.
“This New Venture STRATOSPHERE ASIA will positioning itself as a technology provider for the Asian Market developing and refining technology with the main focus on Smart-Cities Applications. The company with extend the Business Development reach of STRATOSPHERE S.A. to Asian markets and develop solutions adjusted to specific market requirements” says Eng Ho Ng Founder and Director of STRATOSPHERE TECHNOLOGIES ASIA Pte. Ltd. (STS-ASIA). According to Dr. Gustavo Rodrigues Dias, Chairman of the Board of STRATOSPHERE, “It is timely for STRATOSPHERE to have chosen possible on the most advanced city states in technology to spearhead our move to Asia”.
About Stratosphere S.A. www.strastosphere-technologies.com
STRATOSPHERE S.A. (STS) is a technological knowledge-based company, based in Guimarães, focused on the development of solutions and products for critical applications of systems and structures. We are specialists on the development and deployment of advanced Cyberphysical systems. Develops its main verticals on Aerospace, Defence, Energy and Smart Cities. Its key references are AIRBUS, LEONARDO, EMBRAER, ESA, NOS and EDPR.