As the commercial real estate sector grapples with unique challenges, the significance of smart buildings has come to the forefront, particularly during New York Climate Week 2024. A newly released spotlight report titled “Cracking The Smart Buildings Code: A Spotlight On Retail And Commercial Real Estate” builds on a 2023 study conducted by Forrester Consulting for Johnson Controls. The report emphasizes that investments in smart buildings are essential for leaders aiming to improve sustainability, enhance security, and reduce operational costs.
“Smart buildings are not merely a passing trend; they are increasingly viewed as essential components of modern commercial real estate,” remarked Vijay Sankaran, Vice President and Chief Technology Officer at Johnson Controls. This report emphasizes the essential requirement for integrated systems and collaborative partnerships to effectively manage the intricate challenges of the current commercial real estate market.
Unlocking Opportunities Through Digital Transformation
The digitization of buildings presents a remarkable opportunity to refine facility operations, fostering sustainable, healthy, and secure environments. This transformation is becoming a vital differentiator for commercial real estate tenants and investors alike. According to the report, 75% of leaders in commercial real estate and retail consider smart buildings vital for propelling their digital transformation journeys. Almost two-thirds believe that smart buildings are crucial for driving down costs, enhancing sustainability efforts, and promoting business growth.
Key Findings from the Report
The spotlight report outlines several essential findings regarding the impact of smart buildings in the commercial real estate sector:
- A Competitive Advantage: Investing in smart buildings is increasingly seen as a strategic advantage. Such buildings enable leaders to achieve sustainable, secure, and efficient outcomes, thereby enhancing their competitive position in the market.
- Integration Gaps: Only 13% of commercial real estate and retail executives report having fully integrated building systems, leading to inefficiencies and increased risks. The lack of cohesive data and insights diminishes operational efficiencies (62%), harms customer loyalty (59%), and raises the likelihood of regulatory penalties (57%).
- Importance of Data: Building data is crucial for informed decision-making across departments, including security, sustainability, and facilities management. Many leaders acknowledge the current risks associated with limited data access.
- Need for Expertise: Leaders are actively seeking partners who possess advanced technology and industry expertise to support their smart building initiatives effectively.
Johnson Controls: Leading the Smart Building Revolution
Johnson Controls stands out as a comprehensive solutions provider in the commercial building sector, offering a one-stop solution for leaders seeking technology and expertise to achieve meaningful outcomes. The company provides a diverse portfolio of solutions across various industries, including educational institutions, healthcare facilities, and office buildings.
“As a key player in the smart building sector, we possess a comprehensive understanding of how connected, data-driven solutions provide deeper insights into building performance,” stated Julie Brandt, President of Building Solutions North America at Johnson Controls. This report reflects our clients’ feedback that smart buildings are fundamental to the design, operation, and maintenance of indoor environments, ultimately delivering substantial value.
OpenBlue: The Future of Smart Buildings
At the heart of Johnson Controls’ smart building strategy is OpenBlue, an innovative ecosystem of connected technologies and services. By integrating data from various building systems and leveraging AI-enhanced digital experiences, OpenBlue delivers actionable insights and controls that optimize energy efficiency and minimize emissions more effectively than isolated systems. It also aids customers in simplifying carbon disclosure reporting and compliance with building performance standards.
With deployments worldwide including commercial office spaces, healthcare facilities, educational campuses, and beyond OpenBlue enables real-time visibility into assets, people, and processes, empowering customers to facilitate intelligent and proactive operations from a unified platform.
