Skip to main content

How IoT Transforms Commercial Building Management

The commercial building management systems (BMS) market has been the epitome of a steady market for several years. However, growing BMS connectivity and rising energy prices now mean that this is a market that is closely mirroring developments within other technology driven markets.

The growing integrated building management systems market is now estimated to be worth $34 billion, according to the latest worldwide market study by ABI Research.

More than eight million building management systems will be integrated with some form of Internet of Things (IoT) platform, software application or service offering by 2020.

However, like many suppliers in established markets today, commercial building management system vendors face both opportunities and threats when navigating the emerging IoT ecosystem.

The opportunity is IoT integration transforms the traditional BMS from an unconnected monolithic system to part of a wider and integrated sensing and control network.

Support for open BMS connectivity to third-party applications means BMS operation can be informed by a range of external events such as changing weather conditions or variable energy pricing.

At the same time, new sensors and actuators within the building environment can control the BMS according to space allocation, building occupancy and other dynamic factors.

"But the increased flexibility and functionality for BMSs offered by IoT technologies and services is also creating a more complex competitive environment," said Jonathan Collins, principal analyst at ABI Research.

In fact, ABI believes that new BMS competitors such as SaaS energy management platforms, M2M AEP platforms, and even PC energy management players are now also potential new partners in this evolving marketplace.

While BMS players understand they cannot deliver a full range of services on their own they are also wary of losing control over BMS implementations and missing out on new IoT-enabled revenue opportunities.

Apart from the hardware sales -- such as sensors and wireless networking devices -- open source software applications and professional services that will likely drive much of the incremental value from the Internet of Things integrated BMS solutions in the future.

Popular posts from this blog

Mobility-as-a-Service Creates Disruptive Travel Options

Building on significant advances in big data, analytics, and the Internet of Things (IoT), more innovative transit service offerings aim to increase public transport ridership and reduce emissions or congestion within metropolitan areas. By providing these services through smartphone apps, the transit services also significantly increase user convenience, providing information on different human mobility offerings -- including public transport, ridesharing, and autonomous vehicles. Mobility-as-a-Service Market Development According to the latest market study by Juniper Research, Mobility-as-a-Service (MaaS) subscribers will generate $53 billion in revenue for MaaS platform providers by 2027 -- that's rising from $5.3 billion in 2021. Let's start with a basic definition. MaaS is the provision of multi-modal end-to-end travel services through single platforms, by which users can determine an optimal route and price. The study identified a monthly subscription model as key to incr

Robocall Mitigation Solutions to Halt Criminal Threats

If you answer the phone and hear a recorded message instead of a live person, it's likely a robocall. A robocall is a phone call that uses a computerized autodialer to deliver a pre-recorded message. In 2020, the U.S. Federal Trade Commission (FTC) received 2.8 million consumer complaints about robocalls. Offering solutions to robocalling and associated fraudulent business practices, computerized mitigation platforms are an integral part of the solution. Platforms that are focused on actionable systems to disrupt unsolicited and potentially criminal phone calls help telecom service providers and industry regulators. Issues of whether one-size-fits-all developments are sufficient to be effective across the spectrum need to be addressed, and whether a single telecom network operator working unilaterally with a third-party platform could compromise desired or mandatory industry-wide standards. Robocall Mitigation Market Development According to the latest worldwide market study by Jun

Secure Digital Workspace Apps Enable the Future Enterprise

In early 2020, as the world responded to the COVID-19 pandemic disruption, many organizations were forced to rapidly transform their communications networks and IT infrastructure to support an unprecedented shift to remote work. Before the pandemic, approximately 38 percent of employees were remote full-time or had a flexible work arrangement where they split time between home and office locations. During the pandemic, the percentage of remote workers that CIOs had to support reached almost 72 percent. Future Enterprise Technology Market Development Enterprise leaders have been forced to adapt to a new state, shifting from traditional office-based operations to distributed workforce environments that must still provide the same level of connectivity, security, and efficiency across the organization. According to the latest worldwide market study by International Data Corporation (IDC), addressing connectivity across geographies and transforming networks to become more virtual and agile