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Smart Building Technology
Technologies that automate and optimize building operations using data-driven insights.
Overview
Smart building technology refers to the marriage of hardware, software, and processes designed to automate, manage, and control building operations. Building owners and operators are turning to smart building tech to increase operational efficiency and deliver an improved occupant experience, with the ultimate goal of maximizing returns.
Smart buildings harness technology to gather intelligence on equipment and energy usage as well as occupant behavior, using such insights to respond to, for instance, occupant needs and weather conditions.
*Note: Additional sections (such as market sizing and incumbents) can be provided on request.
Market Mapping
Incumbents
Growth
Early
Seed
Pre-Seed
Building automation and analytics
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Energy management
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Lighting solutions
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HVAC services
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Water management
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Access and identity solutions
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Occupant experience and rating systems
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People management systems
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Restroom management systems
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Georgia-Pacific
Georgia-Pacific
Georgia-Pacific
Georgia-Pacific
Georgia-Pacific
Georgia-Pacific
Georgia-Pacific
Georgia-Pacific
Georgia-Pacific
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Overview
Smart building technologies can be traced back to the introduction of basic building automation systems (BAS) in the 1970s. However, these were stand-alone systems focused on lowering building operating costs with the involvement of little to no “intelligence.”
In recent years, there has been an increased focus on and investment in smart building technologies with the advent of the internet of things (IoT), the development of sensor technology, and improved data analytics. Moreover, many technologically-advanced devices can be retrofitted with legacy equipment, making their adoption more feasible. These developments have taken automation and control to new levels, leading to an expansion in the smart building market.
The UN expects the global urban population to reach 68% by 2050 from 55% in 2018. Since urbanization increases demand for sustainable living and work spaces, several governments are considering—and have begun implementing—smart city projects to which smart buildings are integral.
Partnerships and collaborations within the industry have also made the technology more accessible, with incumbent information technology and building technology companies teaming up with niche tech companies to fill gaps in their portfolios.
What is smart building technology?
Smart building technology refers to the marriage of hardware, software, and processes designed to automate, manage, and control building operations. Building owners and operators are turning to smart building tech to increase operational efficiency and deliver an improved occupant experience, with the ultimate goal of maximizing returns.
Smart building tech involves the integration of—
Source: SPEEDA Edge based on various sources
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