Honeywell study: Owners overestimate how smart their buildings are


Dive Brief:

  • A Honeywell survey of 487 properties in seven U.S. cities found that most building managers often give facilities a higher smart score assessment than the buildings deserve.
  • Managers of schools and airports tend to have a more advanced perception of the smart qualities of their facilities, while retail and small office building managers tend to be more pessimistic.
  • Results were based on the Honeywell Smart Building Score, a benchmarking index on sustainability, technology, safety and productivity.

Dive Insight:

While Honeywell has a vested interest in developing its own scoring system to benchmark smart building performance, the endeavor is nonetheless an interesting one. A whitepaper detailing the survey findings reveals the Honeywell Smart Building Score is currently in use in the U.S. and India.

Through the survey, Honeywell has determined that smart buildings must excel in three primary areas: green (sustainability and energy performance), productivity (including advanced systems and technology) and safety and security. Among the three, Honeywell predicts the productivity sector to see the fastest innovation growth. Productivity conversations are still in the early stages, the white paper said, but are focused on both connectivity of systems and utilization of big data.

Smart building technology is picking up steam in the commercial and residential sectors as owners seek to improve the efficiency of their properties. A September MarketsandMarkets report predicted that the value of the global smart building market will increase from $5.73 billion in 2016 to $24.73 billion by 2021, growing at a compound annual growth rate of 34% over the period. The report said the surge in demand will be driven by growing interest in energy-efficient buildings, a rise in Internet of Things adoption and government initiatives that encourage smart buildings.