Smart building tech forecast to grow 10% over five years
- January 1, 2020: Vol. 32, Number 1

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Smart building tech forecast to grow 10% over five years

by Marek Handzel

Management consultancy CIL has predicted there will be a 10 percent increase in business activity for smart building technology suppliers during the next five years.

After interviewing 150 landlords, property managers, agents and suppliers across North America and Europe, CIL found more than half (58 percent) of respondents see smart controls and sensors as important in building management, with the majority (92 percent) saying spending in this area is increasing.

CIL says there is increasing recognition of smart buildings’ ability to create efficiencies in commercial real estate, bringing costs down, increasing tenant satisfaction, improving space management and ensuring strong energy performance.

James de La Salle, director of CIL’s built-environment practice, says the strongest case for smart building development remains within prime real estate, due to the costs involved.

“Properties in larger cities with higher rents can justify refurbishments

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