Smart building solutions are a growing focus for companies as technology innovations create significant changes across the energy management industry landscape, according to a report from Research and Markets . Modular, low-cost IoT solutions will win in the short- to medium-term, while data-driven analytics will continue to propel the energy management market forward.
The growth of smart building solutions is being driven by technology advancements such as big data and the Internet of Things, or IoT (technology possibilities created by all the millions of sensors that are producing data on the nation's energy infrastructure), and building owners are increasingly looking for ways to incorporate IoT elements into their smart buildings, according to an article in The News . Building owners are also asking how to leverage the data in their buildings to help them make better, more impactful decisions that lead to energy savings.
In addition to established technology companies, new participants and startups are increasingly turning their attention to smart building solutions. The Research and Markets report identifies and profiles 12 new and emerging participants that are transforming the energy management industry: Building IQ, Cozify, ecobee, Ecowatt, Energent, Enphase, Envizi, HCL Technologies, Intel, Lucid, SkyFoundry, and Smappee.
Products from companies such as Cozify, Smappee, and Ecowatt will simplify and revolutionize home energy management for improved living conditions, the report says.
In August, millionaire Tom Siebel announced the formation of the Siebel Energy Institute with an investment of $10 million to investigate the IoT .