Why is the smart building industry expanding?

Smart Building Industry

Buildings that once only provided shelter can now do so much more for us. Thanks to innovative technologies, buildings are becoming smarter, better connected and more efficient. At the same time, smart buildings also bring more convenience, reduce waste and reduce management costs.

So, what is the technology behind smart buildings? It is the Internet of Things (IoT), along with other smart technologies that provide real-time updates of various elements in a building such as lights, water and gas pipes, furniture, Doors and windows, heating systems, elevators, room temperature, residential density, etc.

Smart buildings provide insights into building usage, energy consumption, maintenance, air quality, risks and more. Smart buildings are very important today as they offer better facilities management, better digital collaboration and better resource conservation.

Internet of Things​(IoT)

The Internet of Things is helping buildings become smarter because of its ability to connect thousands of sensors to collect and analyze real-time data, thereby increasing efficiency and productivity .

The Internet of Things is an interconnected network of machines, sensors and devices that communicate with each other to collect large amounts of data and perform specific tasks. By using the latest IoT technologies in smart buildings, owners and managers can optimize facility operations and the environment.

Building Automation

Building automation technology facilitates centralized control and monitoring of different elements of a building including lighting, HVAC, security equipment, physical access control, pumping stations, elevators and other systems.

These systems can be integrated with various IoT solutions. Building automation is controlled through BAS (Building Automation System) or BMS (Building Management System).

Building automation systems are critical to the energy management efficiency of smart buildings. Compatible with all standard IoT solutions, these smart systems connect commercial HVAC, lighting, security and protection systems and allow them to interact on a common platform.

They then provide us with the information we need about factors such as humidity, temperature, water pressure, electricity and help us make informed decisions about the control of building elements while improving occupant comfort, safety and security sex and productivity.

Building Information Modeling (BIM)

Building Information Modeling (BIM) is an intelligent 3D model-based technology used to develop digital representations of the physical and functional characteristics of smart buildings.

It helps to evaluate all aspects of the building before proceeding with construction. Before the introduction of BIM, such models were paper-based and failed to provide an understanding of the workings of the facility.

BIM enables us to efficiently develop smart building models. Since these buildings utilize many different smart systems and technologies, BIM proves to be profitable in the long run.

Artificial Intelligence (AI)

Smart buildings collect information from user devices, sensors and systems within the building. It leverages artificial intelligence and machine learning (ML) to process this actionable data to make buildings responsive to the needs of occupants and owners.

Cyber ​​intelligence helps protect networks by enhancing the identification of anomalies and intrusions.

Market Analysis

The current demand for smart buildings is huge and the market is growing rapidly. Allied Market Research predicts that the global smart building market may reach US$201.16 billion by 2031, with an average annual compound growth rate of 11.3% during the forecast period from 2022 to 2031.

Market drivers include the growing need for better utilization of buildings and their sites, surging demand for better resource management in urban environments, and growing demand for public safety and security.

Additionally, the application of technologies such as artificial intelligence (AI) in smart buildings, and the rise of the Internet of Things and its application in smart buildings are expected to provide lucrative opportunities for the expansion of the smart and intelligent building market growth opportunities.

Recent Development

In response to the growing demand for smart buildings, major companies in the field have made significant investments in the development of smart buildings.

For example, in April 2022, Switzerland's ABB and South Korea's Samsung Electronics announced a cooperation to provide jointly developed energy saving, energy management and Internet of Things (IoT) connection technologies for residential and commercial facilities.

In September 2022, Nexer Insights announced a partnership with digital twin building analytics platform SmartViz to improve building performance.

• ABB partners with Samsung Electronics

The partnership aims to enable Samsung and ABB to expand customer access to home automation technology and enhance power load management while Device management. It allows Samsung to integrate Samsung SmartThings into more buildings.

SmartThings is a large ecosystem of connected devices that make homes smarter and more efficient. IoT devices in the platform operate and interact with each other to enable smarter living solutions and simplify our lives. ABB’s ABB-free home automation solutions control a variety of building equipment such as the building’s access control, detection, communications and climate systems.

Therefore, ABB-free home and SmartThings have jointly created a single IoT solution platform for monitoring and controlling building technology. The two companies announced the creation of cloud-to-cloud integration to give consumers greater access and control.

SmartThings allows users to access and control a range of ABB solutions such as cameras, sensors and comfort systems integrated with SmartThings through a single app. Samsung and ABB's integrated energy management solutions can be used in refrigerators, dishwashers, dryers, HVAC and other applications.

• Nexer partners with SmartViz

Nexer and SmartViz partner to empower building owners and operators with Nexer’s consulting and systems integration capabilities and SmartViz SaaS platform experience while reducing carbon emissions.

The SaaS digital twin platform integrates data analysis, predictive simulation and scenario planning. It enables building owners and managers to optimize the living environment to develop more efficient and energy-saving spaces.

The platform integrates property information with data from smart sensors, IoT sensors and more into a single source of truth. It provides actionable data using advanced 2D/3D visualization and KPI coverage across the entire building.

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