Smart building continues to prove itself to be a big business opportunity, with the IoT-enabled building market rising sharply and only set to continue that ascent. The smart building market is projected to grow from USD 5.73 Billion in 2016 to USD 24.73 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 34.0%, according to a recent MarketsandMarkets report. And multinational conglomerate Honeywell is doing its part to help bring it to the forefront of businesses’ minds across the world, thanks to its work in moving smart building standards forward in the industry and its own investment in making IoT-powered building a reality.
Honeywell is going all-in on IoT, focusing the strength of its innovative technologies on both encouraging smart building, and playing its part in “smartening up” the buildings themselves. The company’s goal is to deliver more secure, connected, energy-efficient and productivity-enhancing products and services while making the world a cleaner and more sustainable place.
A More Connected World = A More Productive World
In 2015 Honeywell released a new global index, the Honeywell Smart Building Score. The index provides a framework for the easy, quick and comprehensive assessment of any building. It is based on defined parameters of capability, coverage and uptime. The framework scores 15 elements in each building, judging their green, safe and productive outcomes. The final score for the building is determined by the average of these outcomes. While applied effectively to buildings in the United States, it can be easily applied to buildings in countries around the globe.
These scores are helping industry associations, consultants, architects and service providers to create benchmarks, drive education and demonstrate not only the economic argument for smart buildings, but their very real benefits as well. The index is enabling buildings (and businesses) across the world to move toward their efficacy and environmental goals faster than ever before.
Honeywell products and solutions themselves are having quite an impact as well, resulting in a recent expansion to accommodate the quickly increasing demand in the smart building arena. Announced on December 12, the company has leased 62,000 square feet in Midtown Atlanta’s 715 Peachtree building to house its state-of-the-art software center and Home and Building Technologies global headquarters. The location, in Atlanta’s thriving technology hub, will support the company’s rapid growth in developing connected, software-driven solutions.
Intel Makes Transitioning to Smart Buildings More Accessible
Like Honeywell, Intel is passionate about bringing smart building to the next level—and to the masses—which means making it as easy to do as possible. A task easier said than done, up until now. The main obstacle that the world of commercial real estate faced in implementing smart solutions was that it generally runs on dated technology; there was no equivalent of a universal Wi-Fi router to connect it all. But that’s set to change with Intel’s new Building Management Platform (BMP).
Released in October of this year, the Intel® Building Management Platform (Intel BMP) makes it easier for small- and medium-size buildings to become smart and connected. With built-in security and manageability essentials to manage data from a broad set of building systems and sensors, and to filter and transfer data to the cloud (or on-premises servers), Intel® BMP has changed the entry point for businesses ready to get smart about their buildings.
Image source: Intel
By leveraging this new platform, buildings can save energy and increase efficiency, as well as create a more sustainable, enjoyable and productive use of the building by its occupants. Intel BMP integrates CANDI PowerTools to give cloud-based smart building applications and services secure and easy access to data and “things” in commercial buildings. The platform connects to disparate building equipment and devices that use a variety of protocols and sends their data to cloud-based services and applications for business intelligence, analytics, dashboards and other applications.
Smart buildings are the future of business, and they’re finally opening up for all businesses, not just a select few. Learn more about how Intel® BMP might be a good fit for your clients.