Major stakeholders in the smart buildings market recently gathered at Realcomm's IBCON event to discuss the challenges and opportunities surrounding technology adoption and business transformation in the real estate industry.
Smart building technologies promise significant energy savings and efficiency improvements for managing commercial, industrial and institutional facilities. IBCON illustrated three key messages that must be understood and clearly communicated in order to promote widespread adoption of these technologies in the commercial real estate industry.
Understand all value generated by integrating smart building solutions. Energy efficiency is only one value that can be derived from these technologies; recognizing and communicating operational values is crucial for accelerating the adoption of these technologies.
Often the discussion around the development of smart buildings focuses on the energy efficiency improvements these technologies deliver. One lesson learned at IBCON is that if we hope to see broad adoption of smart building technologies, vendors and investment champions must understand and communicate how these investments will also deliver significant cost savings from improvements in operations and maintenance and business process transformation.
The integration of smart building solutions is a multi-dimensional process from the logistics of bringing technologies online to the buy-in, commitment and utilization of the solutions by the business team. The advanced automation and control capabilities will expedite maintenance procedures, lengthen the useful life of key assets, and improve work order management.
These are just some of the operational changes that hold value for stakeholders in the building management process that may not see the value of the energy efficiency gains these technologies also support. It is important to recognize the full spectrum of benefits associated with smart building solutions to effectively champion their value and incentivize investment.
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