There is much media attention focused on the Internet of Things (IoT) for consumers, but it looks like businesses are greatly adopting smart technology. Smart buildings and infrastructure is expected to boom, reaching $17.4 billion in 2019, as competitive pricing and tech advances help adoption, according to IDC.
The economy is further recovering, so adoption is expected to ramp up in 2015 and over the next four years, while energy costs remain a huge concern for companies. If more companies pledge to improve sustainability and energy management, then there is even more potential for strong growth in smart building solutions.
"While the 'Internet of Things' is a topic of much speculation in the consumer market, smart building technology has steadily been increasing its footprint and impact among commercial buildings," said Jill Feblowitz, VP of Energy Insights at IDC. "Smart building solutions are valuable technologies for deploying energy management strategies that generate operational efficiencies, cost containment, and sustainability benefits that appeal to key stakeholders in building management."