Smart Buildings

The Huge Value of Occupancy Data in Commercial Real Estate

As much as one-third of commercial real estate in the US is “under-utilized,” according to the IBM Institute for Business Value. That is approximately 4 billion square feet of space that could be used better to add value or let go to save cost. The problem is that companies and building owners aren’t always sure exactly which areas can be repurposed and which are vital for the building’s operation. It is therefore of little surprise that this is a growing area for Building Internet of Things (BIoT) related investments. The occupancy analytics market in commercial office space achieved systems sales of $1.54 Billion in 2017 and could rise to $4.60 Billion by 2022, growing at a robust rate of 24.5% CAGR, according to our report: Towards Data-Driven Buildings – Big Data for Smart Buildings 2018 to 2023. The study found that these kinds of datasets were being used for a wide variety of applications, indoor […]

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