Building Internet of Things

This Research Note examines the wireless IoT business of LumenRadio AB, a Swedish public company listed on Nasdaq First North Growth market.  We focus on the company’s 2025 financial highlights and business segment results, based on their Year-End Report 2025, published 27th March 2026, and Capital Markets Day presentation, 20th March 2026. LumenRadio Profile Founded […]

This Research Note examines the technology strategy of JLL, the $26.1B global real estate services firm, investing in startups in the smart buildings space.  We examine the investments of JLL Spark over the past 18 months and highlight their shift in focus, before commenting on their alignment with broader trends in the sector and how […]

This Research Note examines Azbil, a Japanese public company with a leading position in the domestic building automation market. The financial highlights and medium- to long-term outlook for the Building Automation (BA) business are based on its FY 2025 annual results, year-end 31st March 2026, investor presentation dated 13th May 2026, and Memoori analysis. See […]

This Research Note explores the business activities and financial highlights of the Fagerhult lighting group, based on their 2025 results, investor presentation, and their latest annual report. This article updates our previous coverage of the group in March 2025. Fagerhult Profile The Fagerhult Group is one of Europe’s leading lighting companies with 4,100 employees in […]

This Research Note explores Built Cybernetics plc, a London AIM-quoted PropTech group delivering Smart Buildings and architectural services. We examine their latest financial highlights, year ending 30th September 2025, announced 23rd March 2026, and their strategic focus on 3 smart building software brands.  This article updates our previous coverage of the company in April 2025. […]

Commercial building AI has invested heavily in teaching buildings to detect and analyze, but it has been slower to teach them what to do next. Our new analysis of 454 companies active in commercial building AI surfaces this pattern with unusual clarity. A Structural Gap, not a Technology Gap In Indoor Environment and Occupant Comfort, […]

This Research Note examines the acquisition of Nantum AI by Johnson Controls (JCI) announced on 27th April 2026. We highlight the strategic rationale of the acquisition before analyzing the evolution of the OpenBlue platform over the past 6 years through acquisitions and partnerships, as part of the JCI group’s strategy to grow its digital services […]

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 […]