Rapidly-evolving building technologies, and the need for key market participants to gain a competitive advantage through them, are the driving force behind the Internet of Buildings (IoB) market in Asia-Pacific. While the large-scale deployment of IoB is unlikely in the short term due to security issues and lack of clarity on the roles of various stakeholders, the growing emphasis on energy efficiency as well as strong regulatory support will eventually enable the construction of completely integrated and automated buildings that leverage IoB.
New analysis from Frost & Sullivan, Cities Turn Ubiquitous—The Internet of Buildings in Asia-Pacific, finds that commercial buildings are heading the list as most likely to follow through on the implementation of IoB. Industrial and government buildings will largely depend on regulatory support for IoB adoption.
“Unique business and political environments in each Asia-Pacific country mean that carefully-crafted strategies are required to penetrate different sectors,” said Frost & Sullivan Energy and Environmental Industry Analyst Janice Wung. “Developed countries in Asia-Pacific will remain the breeding ground for IoB market opportunities owing to their strong regulatory framework and support.”
A clear regulatory structure must also be established for industry expansion in developing countries. This is particularly crucial as awareness among building owners and managers is often linked to guidelines or case studies observed from regulatory and municipal agencies.
Besides relying on regulatory agencies’ role as an advocate for advanced building technologies, stakeholders must constantly look for opportunities for collaboration with participants from different building technology subsectors.
“Building partnerships will help market participants leverage others’ expertise and specific market experience to gain a competitive advantage,” observed Wung. “The integration of technological capabilities, leading to a convergence of competition and entry of new market participants, will quicken IoB advancement in Asia-Pacificcities.”
Cities Turn Ubiquitous—The Internet of Buildings in Asia-Pacific is part of the Building Management Technologies Growth Partnership Service program. Frost & Sullivan’s related studies include: Opportunities for Internet of Things (IoT) in Smart Buildings, More Than Just Being Green—A Sustainability Perspective in the Asia-Pacific Green Buildings Market, Global Integrated Facility Management (IFM) Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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