Green Quadrant: IoT Platforms For Smart Buildings 2022

The Internet of Things is a network of interconnected objects and systems that gather and exchange information. This interconnectedness of devices and systems enables businesses to comprehend better, analyze, monitor, and even control the health of their equipment, allowing it to perform more efficiently. As long as they can communicate via a network, including with one another, many 'things' may participate in the IoT network, including sensors, meters, equipment, and building systems such as HVAC and boiler plants. IoT applications span from supporting and controlling utilities to monitoring production lines, improving the functioning of residential properties, and even running driverless cars.

In the built environment, Internet of Things (IoT) platforms for smart buildings play a crucial role in facilitating the collection, collation, and analysis of building data from sensors, energy meters, incumbent systems such as building management systems (BMS) and HVAC units, and other internal and external data sources. In recent years, building IoT systems have enabled higher degrees of building management automation by exploiting data insights to enhance building operations. In addition, greater IoT datasets have started to have strategic effects on enterprises, influencing real estate strategies via space consumption patterns and inspiring capital expenditure plans by anticipating asset or device failures.

While facilities and real estate directors are often the primary purchasers and administrators of these solutions, building IoT platforms increasingly affects every building stakeholder, from landlords to building occupants, who engage with these solutions daily. This research compares the 17 most popular IoT platforms for smart buildings to those responsible for choosing, integrating, and extracting value from these platforms. This report's study addresses various supplier selection issues, including:

• Which IoT platforms for smart buildings will fulfill my organization's needs?
• Which IoT systems for intelligent buildings are industry leaders?
• How do market-available solutions combine with my current organizational systems and solutions?
• How can I evaluate the IoT provider's capability to offer value based on their capabilities and depth of experience?
• How might IoT platforms for smart buildings contribute to my enterprise's overall strategy?

Verdantix analyzed 17 IoT platforms for smart buildings using a 154-point questionnaire and performed three-hour live software demos to respond to these queries. In addition, we analyzed the findings of our worldwide corporate survey of 285 real estate and facilities management professionals. We interviewed a panel of purchasers of building software solutions to get insight into their experiences, requirements, and opinions about solutions on the market. The resultant study is based on the patented Verdantix Green Quadrant approach, which is meant to give an impartial, evidence-based evaluation of similar products and service providers.

IoT Companies Offer More Extensive Platforms

In 1999, the phrase 'Internet of Things' was created in response to the emergence of the internet and smart gadgets towards the end of the 20th century. Since then, the number of building IoT solutions on the market has increased, and IoT platforms have multiplied over the last three years. The present market for smart buildings:

Remains a fragmented environment with several vendors.

The building IoT industry comprises many manufacturers offering various parts of the technological ecosystem, including IoT sensors, connections, devices, software, and services. Companies deploying an IoT platform will likely have to collaborate with suppliers such as sensor manufacturers Spaceti and VergeSense, gateway makers Rigado, and solutions providers and systems integrators Accenture and Atos. Regarding IoT sensors, there is a minimal agreement in the network protocols used for exchanging data (see Verdantix Six Best Practices To Strengthen Your Building IoT Analytics Programme).

An increasing number of complete IoT platforms are available.

There are a rising number of vendors delivering more complete IoT platforms on the market, despite the presence of several point solutions and platforms for single-use cases in the IoT industry. These solutions provide capabilities for various use cases on a single platform, such as asset and maintenance management, sustainability, and security. Others, such as Johnson Controls (JCI), Schneider Electric, and Siemens, provide solutions that target many important use cases. Johnson Controls (JCI), Schneider Electric, and Siemens offer integrated suites of solutions that cover almost all aspects of building management.

Consolidates as providers strive to provide more comprehensive solutions.

Suppliers are pursuing aggressive acquisition and integration strategies to improve the comprehensiveness of their IoT platform solutions to cover gaps in their capabilities, combine various building management components, and leverage innovation. For instance, in June 2021, Planon, a provider of integrated workplace management systems (IWMS), purchased IoT platform provider Axonize, offering increased insights into asset and building performance through linked assets and digital twins.

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