78% of businesses have adopted smart building
tech to drive energy efficiency, lower costs, decrease carbon
emissions, and manage return to work – yet gaps still exist
TROY, Mich., May 19, 2023 /PRNewswire/ -- Toggled®, a
wholly owned subsidiary of Altair (Nasdaq: ALTR) focused on
intelligent building management solutions, released survey results
revealing that while many businesses are embracing smart
building technology to increase energy efficiency and lower costs,
they fall short of their goals due to an inability to master the
data. The independent survey of more than 500 facility
decision-makers throughout several industries gauged smart building
technology adoption, its business benefits, and its impact on
sustainability initiatives.
"It's clear from our survey the battle for smart building
adoption has been won. But we can't stop there. By helping
facilities establish a complete tech-to-intelligence loop, they can
fully optimize energy and cost efficiencies," said Daniel Hollenkamp Jr., chief operating officer,
Toggled. "Most businesses are only scratching the surface of what
the technology can do. Once facility managers start to capitalize
on what their performance data is telling them and where to adjust,
the true business value of a scalable and flexible IoT-enabled
smart building network comes to life."
Adoption is high and strides are being made
According
to the survey, as many as 78% of respondents have deployed smart
building features, and the same percentage of this group (78%) has
seen an increase in energy efficiency and cost reduction as a
result of using the technology.
While the results demonstrate businesses are making great
progress in lowering energy use and costs, nearly two-thirds of
facility decision makers (64%) say they are still looking for ways
to monitor and analyze their carbon footprint or greenhouse gas
emissions in their facilities. Only 36% have seen measurable
results in decarbonization.
Verification and analysis are low, inhibiting further
progress
Most respondents (94%) who have implemented smart
building technology say their organization has invested in data
analytics. However, as many as 34% say they lack the talent and
skills to integrate data science into their smart building
platforms. This underscores the importance of businesses choosing a
system capable of customizing analytics to the facility and
providing simple actionable information in a timely manner. These
features enable users to monitor building performance based on
real-time data insights, directly from web-based devices without
extensive coding or data science knowledge. By doing so,
organizations can gain awareness into how these systems are
optimizing performance while also lowering their carbon
footprint.
More key findings from the survey include:
- Smart building tech is smart, but is it simple? While
many decision-makers surveyed expressed some degree of knowledge
when it comes to smart building technology, as many as 88% have the
desire to learn more.
-
- Many face several challenges when it comes to upgrading their
lighting and HVAC systems with advanced smart technology.
-
- Over half (55%) of respondents named complexities around
integrating smart technologies with their current infrastructure as
one of their significant challenges.
- 38% lack a dedicated, knowledgeable staff to keep smart
building tech running smoothly.
- Getting smarter to support new return-to-work
models: Although most organizations have turned to smart
technology to monitor energy consumption and bring down costs of
operations, climate control – including temperature (65%) and
humidity (45%) – scored high among respondents along with occupancy
and space utilization (52%), which can be attributed to a renewed
focus on the evolving workplace post-pandemic.
- Commercial real estate (CRE) owners better get smart
fast: While the survey confirmed smart building adoption
is more prevalent among decision-makers at organizations that own
their facilities, it revealed 41% of organizations that lease their
space are looking to relocate to commercial space that's more
"green," with 51% seeking facilities with more smart building
technology.
-
- Over half (58%) of this group are looking to secure a new lease
within 11 months or sooner.
"So many of the issues underscored in the survey results are
something we see every day and why we developed our solution with
so much intention around simplicity, customization, and
integration," said Hollenkamp. "By giving users a customizable data
analytics dashboard that generates real-time overviews on building
efficiencies and anomalies, they gain complete control over their
smart building environment so they can optimize performance."
The national survey was commissioned by Toggled and conducted by
Atomik Research between April 13 and April
19, 2023. The survey drew responses from 505 U.S.
decision-makers who hold authority over their organization's
facilities throughout several target industries, including
construction, financial services, information services,
manufacturing, healthcare, education, real estate, agriculture,
restaurant/food and beverage, transportation, energy, hospitality,
and tourism.
About Toggled
Toggled and Toggled iQ are registered trademark brands of Ilumisys,
Inc. (dba Toggled), a wholly-owned subsidiary of Altair (Nasdaq:
ALTR). Toggled iQ is a networked lighting and building control
system that leverages the Internet of Things, enabling customers to
create unique and scalable solutions across many use cases
including, lighting control, HVAC, remote sensor monitoring, and
intelligent building control. To learn more, visit
https://toggled.com.
About Altair (Nasdaq: ALTR)
Altair is a global leader in computational science and artificial
intelligence (AI) that provides software and cloud solutions in
simulation, high-performance computing (HPC), data analytics, and
AI. Altair enables organizations across all industries to compete
more effectively and drive smarter decisions in an increasingly
connected world – all while creating a greener, more sustainable
future. For more information,
visit https://www.altair.com/.
Media Contact:
Altair
Jennifer Ristic
+1.216.849.3109
jristic@altair.com
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