June 4, 2015: Building IoT to be $76 Billion Market by 2020
Internet of Things Provides Capability to Join Devices Together More Efficiently and Cost Effectively
LONDON — Building automation is transforming into the building Internet of Things (IoT), creating a $76 billion market by 2020, according to a new research report from Memoori Business Intelligence Ltd.
For a quarter of a century, the building automation systems (BAS) industry has been working hard at delivering full connectivity across all the different building services. They have been successful in achieving this goal but, according to Memoori, the solutions have been expensive, lacked flexibility and robustness, and while they improved the optimization of the buildings’ performance, they could not be fully automated.