Verdantix Benchmark Concludes The Quest For The IoT for Buildings Holy Grail Is Just Beginning
The recently published Verdantix Green Quadrant benchmark of IoT Platforms for Smart Buildings found that building IoT is a nascent but growing space as real estate and facilities managers seek to gain a better understanding of the reams of data generated by their buildings. This “single pane of glass” view of building data that generates insights that reduce costs and boost employee productivity is the holy grail of smart (and smarter) buildings.
Initial building IoT projects have focused on reducing energy usage and streamlining the room booking process taking into account whether rooms are actually occupied or not. Use cases are expanding over the next one to three years into improving overall occupant comfort and wellbeing and maximizing space utilization. Our Verdantix Global Survey for Smart Building Technology Budgets, Priorities and Preferences shows there’s plenty of room for growth with just 8% of building managers having deployed IoT platforms across their building portfolio and an additional 33% deploying IoT platforms in just a few of their buildings. More than half have yet to embrace the technology.
Those numbers will grow, however. IoT is about data and what you do with it at the end of the day and building managers want better data. A total of 89% of our Global Survey respondents cited “improving connectivity and data availability from smart building technologies” as either an influential or very influential trend in shaping their firm’s real estate strategy over the next three years.
IoT platform vendors can help. Our benchmark shows most vendors are coming at IoT from a particular core competency, whether that’s energy management, asset and facilities management or space and workplace management. Platform expansion, either by acquisitions, organic development or partnerships has already begun and will intensify.
One significant finding from the benchmark is that while improving employee or occupant experience is a key goal of customers, many vendors lag in workplace services like supporting agile workspace strategies, room and space reservation, workplace wayfinding, parking management, wellbeing standards and location-based services. This category received the lowest aggregate score of all vendor capabilities rated in the study.
For more insight into the dynamic IoT Platforms for Smart Buildings space, sign up for our webinar, How To Select The Right IoT Platform Solution For Smart Buildings: Product Benchmark Insights on December 5 to hear more about the IoT platform solutions from Siemens, Schneider Electric, Johnson Controls, Accruent, Spacewell and more.