Smart homes and home automation have become the big buzzwords in the real estate market over the past few years as consumers look for the latest gadgets to “smart-enable” their homes. Smart devices for temperature control, lighting, kitchen appliances, and even window shades are now must-haves for the energy-conscious consumer, and those in building design and construction are taking notice. Builders and developers are now incorporating IoT technologies into both residential and commercial developments, something that Navigant Research confirms in its latest report that estimates the IoT for intelligent buildings market is set to surpass $22 billion in 2026, up from $6.3 billion in 2017.
Leveraging IoT for smart buildings has historically been reserved for those who could tote the hefty price tag. Market leaders such as Honeywell, JCI, and Schneider were able to deliver services to large campuses that could spare immediate ROI for long-term investment into smart technology, leaving small and mid-sized office complexes in the technology dark ages.
Today, smart building IoT solutions have arrived in the form of low-cost sensors and switches that help smaller campuses overcome the capital barriers that previously limited building management systems from participating in the smart building revolution. These devices come equipped with apps for analytics and visualization to gather critical data and are easily deployed by non-specialized personnel, reducing the need for IT experts onsite.
With tech giants like Google, Amazon, and even Apple now investing in this multi-billion-dollar industry, it seems that IoT has found its sweet spot in the cloud. Businesses are leveraging the cloud for the massive data storage needed to manage IoT device data, analytics, and applications. Cloud-enabled devices give users even more control with apps to remotely monitor and manage buildings from a desktop, tablet, or smartphone.
If Navigant Research’s evaluation is correct, we will continue to see smart building technology evolve in the coming years; resulting in the need for additional cloud storage space, lower-cost options for connected devices, and integrated applications for building management. LanYap Networks works with best-in-class IoT hardware and connectivity providers to help our clients deploy smart building technology. Give us a call, and let’s chat about how we can help you enjoy all of the benefits of a smarter, more efficient office building.
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