Study: Smart buildings make good business sense
Investments in smart buildings are essential for companies aiming to enhance sustainability, security and save money.
That’s according to a new report from Johnson Controls in which nearly two-thirds of respondents say smart buildings are important for reducing costs, accelerating sustainability initiatives and driving business growth. The report, “Cracking The Smart Buildings Code: A Spotlight On Retail And Commercial Real Estate," was released as the the movement toward smarter buildings is top of mind against the backdrop of New York Climate Week 2024, the largest annual climate event of its kind.
In key findings, only 13% of commercial real estate and retail leaders said they have fully integrated building systems, leading to inefficiencies and increased risks. This lack of integrated data and insight is reducing operating efficiencies (62%), reducing customer loyalty (59%) and increasing regulatory penalties (57%).
Also, 75% of commercial real estate and retail leaders said smart buildings are important to accelerating digital transformation efforts.
"Smart buildings are not just a trend; there is growing recognition they are a necessity for modern commercial real estate," said Vijay Sankaran, VP and chief technology officer, Johnson Controls. "This report highlights the urgent need for integrated systems and expert partners to navigate the complexities of today's commercial real estate market to achieve long-term success."
Other key findings from the report are below.
•Competitive Differentiator: Investing in smart buildings is a competitive differentiator. Smart buildings not only help commercial real estate and retail leaders attain sustainable, secure and efficient outcomes, but they also competitively differentiate their facilities in the market.
•Vital Insights: Building data is crucial for decision-making across various departments, including security, sustainability and facilities management, and many leaders recognize the current risks they face by having limited data.
"As a leader in the smart buildings industry, we have a comprehensive understanding of how connected, data-driven solutions provide deeper insights into a building's performance and how we can optimize equipment performance and enable proactive services," said Julie Brandt, president of building solutions North America at Johnson Controls. "This report confirms what we're already hearing from our customers, that smart buildings are foundational to the design, operation, and maintenance of indoor environments, ultimately driving value."
The "Cracking The Smart Buildings Code: A Spotlight On Retail And Commercial Real Estate” report builds on a 2023 commissioned study conducted by Forrester Consulting on behalf of Johnson Controls.
