IoT is a New Lens on the Maturing Intelligent Buildings Market

In an article for Smart Cities Dive, Navigant Research says the most sophisticated buildings integrate building management systems with business intelligence tools

As Internet of Things (IOT) enters the commercial space, technology and data-sharing bring new solutions and challenges to traditional buildings.

In an article for Smart Cities Dive, Casey Talon, director with Navigant Research, said IoT offers a new lens in the buildings market, delivering data and analytics that direct operational improvements for broad business benefits.

“The most sophisticated intelligent buildings are defined by integration of building management systems with business intelligence tools. Vendors are driving toward deeper customer engagements supported by data analytics and services that make IoT impactful on day-to-day operational and long-term business strategy," said Talon.

However, IoT-integration into building systems comes without its own set of challenges, specifically in cybersecurity.

“Cloud-hosted SaaS offerings, remote access to automation and controls, and data-sharing across business and building systems bring fundamental changes to the close-looped nature of traditional building operations. The challenges are multi-dimensional,” said Talon.

Nevertheless, there are solutions. Talon recommends network security best practices be followed closely to avoid cyber risks on dedicated networks, as well as the use of firewalls and basic employee education on passwords and system use.

In addition, navigating the market for secure devices and systems with trusted standards and certifications can be difficult, so it is recommended suppliers design them with broader industry security standards in mind, i.e., Payment Card Information Data Security Standard, Health Insurance Portability and Accountability Act, and Federal Information Processing Standards, and International Organization for Standardization standards.

Meanwhile, integrating intelligent building systems is very beneficial for increasing the value of commercial facilities and businesses. The data can be translated into economic and business metrics relevant to influencers and decision-makers. The systems also help boost branding in areas of sustainability and innovation, which may be relevant to their customers.

“The bottom line is that cheaper, more effective devices can be deployed in nearly any building to give decision-makers better information specific to their business goals,” said Talon.

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