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Heralding the Age of Intelligent Buildings
Let's assess the impact of the Internet of Things on building-management systems.
How Is the IoT Installed in These Spaces?
The Utilitywise WiseLife app is an excellent example of how the technology can be applied to great effect. It provides business owners with the ability to manage their electricity and gas use from their smartphones. In short, WiseLife provides entrepreneurs with direct control of their electrical and heating hardware, along with access to sensors that can be used to adjust temperatures.
So, not only can equipment can be switched on or off remotely, but the technology also makes recommendations about when electricity and gas use can be reduced within any given space. As a result, the amount of energy being used is decreased, reducing bills and benefiting both the environment and each businesses bottom line.
According to WiseLife, one user reported a 50 percent drop in their gas usage over time, as well as a further 25 percent decrease in their electricity bill after installing Wiselife. This is part of a wider trend to create intuitive and increasingly automated building-management systems, which can increase operational efficiency. Businesses are set to increase their investment in this technology throughout the next decade, having spent around $67.1 billion last year alone. This is expected to rise to $102 billion in 2025, with a clear focus being placed on energy usage, lighting and security provisions.
Of course, the potential applications for this market continue to expand daily, so the level of investment could increase further in the future. For now, however, there's sure to be a focus on upgrading facilities and implementing automated processes in a way that improves safety and energy efficiency, while also adding tangible value to the structures themselves. This is already something that we have seen take hold in the residential market, with buyers keen on investing in property that already benefits from integrated smart technology and IoT capabilities.
Andre Gwilliam is a freelance writer working toward a future aim of running his own writers company. He writes across a variety of subjects that are close to the heart of the U.K. economy, including property, investments, business logistics and market trends. He has been writing for the past three years, having graduated with a degree in English literature and creative writing. Andre is open to collaborations to benefit his growing portfolio.
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