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Convergence of Building Technologies and the ICT Industry Drives More Investments through Partnerships
As the smart buildings industry continues to gather pace, cloud-based solutions will be widely adopted in the market as decision makers are aware of the huge business value that can be generated by leveraging Big Data and data analytics applications. Increasing urbanization, connectivity and convergence of smart technologies, and communication between smart devices are the 3 big trends that are expected to bring new opportunities for growth in the smart buildings industry.
Key CEO 360 Degree Perspectives on Big Data and Smart Buildings
1 Tier I building technology participants are expected to welcome strategic partnerships with data analytics providers to leverage next-generation IT solutions.
2 Tier II building technology participants are expected to expand their businesses from mainly non-residential applications to enter the residential sector with new business models.
3 Convergence and connectivity of next-generation IT solutions will open new business opportunities for building technologies and companies in the ICT industry.
4 BRIC countries in particular are investment hotspots for developing smart buildings and smart cities in the short term.
5 Governments of many emerging markets are expected to invest heavily in developing smart cities in the next years, and Big Data and smart buildings will play a key role.
IT = Information Technology; ICT = Information and Communication Technology; BRIC = Brazil, Russia, India, and China
-Next-generation technologies such as IoT, cloud computing, Big Data, and data analytics are expected to be an ideal fit for the evolving smart buildings market, in terms of technology, business value, and customer satisfaction.
-The convergence of building technologies and the ICT industry is expected to satisfy the technical demands of the smart buildings market surrounding Big Data and data analytics applications. These technologies, therefore, are expected to bring more investments from vendors of both industries as a result of partnerships in the near future.
-Local governments are expected to focus on factors such as technology, policy, economy, and infrastructure to build a strong framework to improve smart building initiatives and gradually upgrade them into implementing smart cities in the next 10 to 15 years.
-The technology convergence of building technologies and the ICT industry is expected to bring new partnerships between data analytics providers and building technology providers in the near future.
-The BRIC countries are expected to invest strongly in implementing smart buildings and smart cities in the coming years because of expanding populations, economic growth, and the ongoing trend towards urbanisation.
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