This Research Note examines the development of the Carrier Abound platform, its unified IoT platform offering for connected commercial building operations. We analyze the key milestones in its evolution over the past 10 years, as part of the group’s strategy to grow its digital and aftermarket services. Acquisition of EcoEnergy Insights In March 2017, UTC Fire & Security, predecessor to Carrier Corporation, acquired EcoEnergy Insights for $70 million. Based in Bengaluru, India, formerly Wipro’s energy services business division, the firm provided energy management solutions by analyzing insights gained from their software-as-a-service platform. Their platform was deployed across 6,000 commercial sites in sectors such as retail, restaurants, hospitality, banking and water utilities in North America, Europe and Asia. Cortix Platform In November 2022, EcoEnergy Insights enabled the digital transformation of building equipment operations and maintenance with customized AI and IoT-driven solutions and services, via the CORTIX platform & 24/7 command center monitoring. The business focused on […]
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