Understanding the Smart Buildings Market

In a Realcomm article, Navigant Research discusses insights from the first State of the Smart Buildings Market Study

Smart building technology has been available for over a decade. However, most buildings have not yet adopted a smart building approach, which can improve safety, productivity, and space utilization.

In an article for RealcommNavigant Research’s Casey Talon, research director, discusses the results of the first State of the Smart Buildings Market study, and advises technology and service providers on how these results can help expedite investment in smart building solutions. 

According to the survey that the study was based on, the smart buildings market is gaining momentum, with commercial offices leading the way as workplaces evolve to meet new employee needs.

“Smart building investments can demonstrate commitments to sustainability and an occupant-centric focus that garner the loyalty of the next generation of business leaders,” Talon said. 

While the market is gaining traction, there are also barriers to adoption. Survey respondents ranked business disruption as their most significant barrier, however, 75% of customers also noted that they are grappling with other significant barrier to smart building solutions. 

“This [75%] finding underscores the confusion in the market and the uncertainty customers feel about the challenges in embarking on a smart buildings journey,” Talon said. “Integrators, technology providers, and consulting partners can take the perceived barriers and translate them into opportunities for new customer engagement around smart building strategy and execution.”

Read the RealComm Article

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