The Internet of Things (IoT) continues to have a profound impact on building automation and controls. Smart Buildings rely on many technologies such as broadband wireless, cloud computing, and data management. IoT is arguably at the center of efficiency improvements and creating a safer and more pleasant work environment while raising workforce productivity.
Smart Buildings allow commercial real estate owners to charge higher rents as well as the ability to offer value-added services such as Smart Workplace solutions. Integrated Workplace Management Systems are often employed to manage workplace operations on an intra-building and inter-building basis.
The IoT enabled Smart Buildings market covers many solution and service areas, many of which are dependent upon intelligent centralized control via Building Automation Systems (BAS). Building automation and controls market has seen double digit growth in past few years and is expected to become a $50B USD industry by 2018. The Intelligent HVAC market is one of the biggest BAS contributors. One of the key areas for this area is deployment and operation of Building Energy Management Systems (BEMS). Other important market opportunities that depend upon BEMS include motion sensors, dimming products and access controls.
Smart Building solutions are not just for office buildings. One sub-sector of commercial real estate (CRE) is the industrial real estate arena. Driven by the need for ever expanding warehouse space due to skyrocketing online sales, rental rates for industrial space increased dramatically (10% increase in last year and approaching 30% within the last three years). Online leaders that will benefit from smarter buildings for industrial real estate include Amazon, Walmart, Alibaba, Overstock.com
This research evaluates the Smart Buildings marketplace including technologies, players, and solutions. The report analyzes Smart Buildings challenges and opportunities, assessing market potential and provides accompanying forecasts globally as well as regionally and by market segment for 2017 – 2022.