Manuel Pellegrini's men clinched the coveted trophy last season by two points, and while Kompany has insisted that City have an advantage due to their recent experience, the Belgian expects a number of clubs to challenge for honours.
"I do think this time we have a lot of red flags already coming up before we even start this season," Kompany told Sky Sports News. "We know what to look out for, we know what not to do, but also we know what to do.
"It's increasing our confidence, but at the same time it's the Premier League. The reason why everybody watches it is because they know that it's impossible for us to put out a statement and say that we are going to win the league because five or six clubs will have that intention."
City, who also clinched the title on the final day of the season back in 2012, will begin the defence of their title against Newcastle United on Sunday.