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Verdantix Benchmark Reveals Four Leaders In IoT Platforms For Smart Buildings

Four firms – JCI, Schneider Electric, Siemens and Spacewell – currently lead the market for Internet of Things (IoT) platforms for Smart Buildings but face strong competition from new entrants and innovative start-ups. Using its proprietary Green Quadrant methodology, independent research firm Verdantix assessed the capabilities of the 17 most prominent IoT platforms for Smart Buildings on their ability to deliver value and support enterprise-scale architecture.

The IoT market is growing at a considerable rate, with seven new entrants to this study since 2019. Vendors are expanding their capabilities to deliver comprehensive applications in areas such as air quality, building security and space optimization,” commented Dayann Charles, Verdantix Industry Analyst. “In order to meet rapidly changing buyer needs, vendors are pursuing aggressive acquisition and product investment strategies to fill gaps in their capabilities.”

The Verdantix report, “Green Quadrant: IoT Platforms For Smart Buildings 2022”, provides prospective buyers of IoT platforms with detailed analysis to expedite and inform vendor selection decisions. Key findings include:

  • Vendors such as Johnson Controls (JCI), Schneider Electric, Siemens and Spacewell lead the market with integrated suites of solutions that cover almost all elements of building management. Other vendors that feature in our leaders’ quadrant, who meet the majority of buyer needs, include Carrier, Honeywell and Planon.
  • The market is witnessing innovation across the board, driven by the need to meet expanding customer demand. For example, Accruent, Energisme, PointGuard and ThoughtWire are bringing new insights to traditional functionality areas such as asset and energy management through advanced analytics and workflow optimization.
  • The lowering costs of IoT sensors and solutions is also driving the adoption of IoT for newer building applications. Spica Technologies and Thing Technologies offer strong occupant-facing solutions, helping to enhance hybrid workspaces and the employee experience, whilst Infogrid has a track record of deploying thousands of sensors rapidly to support the cultivation of healthy building environments..

With 44% of firms expecting to increase their spending on IoT platforms for buildings in 2022, vendors are continuing to strive for differentiation. This has led to more solutions leveraging AI and machine learning to deliver advanced analytics that support both real-time operations and long-term strategy, such as real estate rationalization and capital expenditure planning.

With the needs of firms, both operational and strategic, constantly evolving, building IoT platform vendors are well-placed to tackle key use cases and generate value across real estate portfolios for the full range of building stakeholders, from C-suite executives and portfolio managers to building occupants”, concluded Dayann Charles.

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