Frost & Sullivan believes that big data will help facilitate the development of the smart buildings industry amid the growing trends of urbanization, technology connectivity and convergence and device communications.
In the report titled “Big Data as an Enabler for Smart Buildings,” Frost & Sullivan says big data and related technology platforms such as the Internet of Things and cloud computing can bring further business opportunities.
“Big data, especially, will emerge as a more valuable delivery model owing to affordable upfront costs and lower resource usage,” said Anirudh Bhaskaran, an energy and environmental research analyst at Frost & Sullivan.
The company also sees big data’s scalability across different systems as another factor that could drive building technology providers to partner with data analytics providers.
“Local government focus on technology, policy, economy and infrastructure will lend further momentum to smart building initiatives and, gradually, lead to their evolution into smart cities in the next 10 to 15 years,” Bhaskaran said.
He said Brazil, China, India and Russia will likely help lead investments in smart building and smart city technologies due to population and economic growth and urbanization.