With buildings getting smarter as more CRE managers adopt a connected strategy, the global smart building market is now expected to be worth almost $62 billion by 2024, according to a recent report from Zion Market Research. The market was valued at around $5.8 billion in 2016.

This huge investment in building management systems, intelligent lighting, software, security and automation means building owners and facilities managers are under mounting pressure to deliver the right solution to reduce costs and make workspaces more flexible, efficient and productive. Leading research and advisory company Gartner estimates that nearly a third of organizations have already introduced Internet of Things (IoT) solutions.

“The smart buildings industry is growing rapidly,” said John Hatcher, conference director at the Smart Buildings Show. “More and more specifiers know that they have to install up to date connectivity and building management systems into their commercial buildings in order to maximise worker experience and profitability.”

Technologies such as KNX and Bluetooth Mesh are becoming increasingly common in the workplace, along with facial and voice recognition and advanced digital signage. The Internet of Things, Artificial Intelligence, machine learning and virtual beacons also help to deliver more accurate analytics that enable better workplace and workflow design decisions.

Smarter buildings use the technology to make the physical work environment intelligent, so that it can adapt to individual employees’ needs. Sensors and automation are increasingly being used to control lighting and heating to reduce energy costs and improve sustainability. Smart offices can also help to cut waste and minimize environmental impact.

“As more organisations opt for flexible office layouts, smart buildings help us reconfigure and improve our spaces,” said John T. Anderson, CEO of Smartway2, a unique cloud-based platform that enables businesses to help their people, places and technology work better together.

He said: “Smart devices can detect whether a room is being used and whether a video conference is underway – turning on equipment, opening and closing blinds, or ordering coffee as necessary. IoT devices can enable predictive maintenance of buildings too, telling us we need to add a new meeting space on the third floor, or reduce heat loss through the main exit.”

Anderson added: “The adoption of smart real estate technologies and digitisation of buildings will continue to transform the industry – and shape the future of work.”

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