The intelligent buildings market has been defined by the convergence of controls and automation and information technologies. The competitive landscape has shifted as software analytics have become foundational to commercial building optimization. The technology is ahead of the curve when considering the business transformation these solutions can enable. There is a huge addressable market for intelligent buildings, but executives, building operators, and facilities managers are still learning the business value and practical implications of technology deployment. The chasm between technology and user maturation can be thought of as the people problem; Ian Campbell, technologies services director at Grosvenor Services, clarifies the point: “The concept of a smart building is meaningless unless you apply Technology, People, and Process. It’s nothing without people.”
Facilities management is not the cutting edge of technology adoption. Even as the intelligent buildings market has developed, customers have been conservative in implementation, learning through pilots and demonstrations of business value. The Internet of Things (IoT) is changing the game for the intelligent buildings market with dramatically lower total cost of ownership, ease of deployment and implementation, and broad business effects. That IoT solutions can deliver value to stakeholders across an organization while meeting their technology and investment requirements sets the stage for a tipping point for more widespread and rapid adoption.
Beyond Energy Efficiency
Customers need to see a rapid return on investment (ROI) to make the commitment to intelligent building solutions. The energy efficiency gains of intelligent building technologies provide the easiest demonstration of ROI, but for many customers, this falls short. The information delivered by an IoT solution is much more wide-reaching.
IoT-enabled intelligent building solutions create rich data sets about commercial buildings. Software analytics translate this data into business information that can tackle key pain points across an organization. For example, occupancy trends can help the building engineers fine-tune heating, ventilation, and air conditioning systems to increase comfort and improve repair and maintenance processes. That same data can be translated into information about occupant behaviors that define productivity for business profit.
Digital Lumens recently explained another business benefit of IoT—physical security. “To further maximize security, managers are also utilizing occupancy sensing data to create virtual fences around particular areas within a facility, sensing and alerting the manager in real-time if any trespassing has occurred,” said Kaynam Hedayat, VP of product management and marketing with the company.
The bottom line is that IoT intelligent building solutions help customers make data-driven business decisions, create time-saving improvements in maintenance and repairs, and improve the employee and customer experience. These benefits mean stronger financial statements and new budgets for technology investment.
Interested in additional Navigant Research perspective on IoT? Check out the new IoT research service.
Tags: Building Innovations, Energy Efficiency, Intelligent Buildings, Internet of Things
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