Survey Reveals Smart Building Spending Plans And Tech Priorities For 2020

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Independent research firm Verdantix has released its annual global survey of 304 real estate occupiers across 16 geographies and 18 industries.

The survey focusses on the firms’ real estate strategic direction, governance, budgets and priorities in relation to technology decisions. 

The survey revealed that 31% of interviewees expect their budget for facilities and asset management software to grow by more than 5%. Improving the comfort of occupants is the top real estate objective for 28% of firms, followed by minimizing risk to business operations (26% of respondents), and reducing operating costs the top objective (16% of respondents).

“Our Smart Building Technologies global survey provides unique data on the 2020 budgets, business priorities and technology preferences of managers responsible for corporate real estate and facilities management decisions at the world’s largest firms”

–Susan Clarke

Principal Analyst, Verdantix

Data helps corporate managers to benchmark against their peers

“Our Smart Building Technologies global survey provides unique data on the 2020 budgets, business priorities and technology preferences of managers responsible for corporate real estate and facilities management decisions at the world’s largest firms” commented Verdantix Principal Analyst, Susan Clarke. 

“With the Verdantix Smart Building Technologies survey data corporate managers can benchmark against their peer group and tech vendors can align go-to-market plans for 2020 with customer requirements.”

The key findings of the survey are as follows:

• Space efficiency and coworking are the most significant factors shaping real estate strategies (91%), closely followed by rapidly increasing volumes of building data (90%) and sustainability initiatives (89%)
• The highest budget increase will be in well-proven hardware solutions such as LED lighting, with 66% of respondents anticipating growing budgets due to mature solutions facilitating an easier budget sign-off
• As part of facilities executives’ strategies to make buildings engaging for occupants, they are evaluating new investments in employee-facing technology such as workplace kiosks (22%), meeting room panels (10%) and voice-activated digital assistants (9%). Vendors offering workplace software tools include: Accruent, Archibus, FM:Systems, IBM, iOFFICE, Office App, Planon, SmartSpace Software, SpaceIQ, THING TECHNOLOGIES and Trimble  
• The majority – 73% – of firms expect their outsourced energy services budget to remain flat, apart from in the UAE where 38% of executives’ budgets will grow in 2020 as they tackle burgeoning energy consumption. Vendors capitalising on this regional growth include ABB, EDF, Honeywell, Siemens and Veolia who have all established energy services offerings in the UAE

Find out about the next Verdantix Smart Building Technology Innovation Summit 2020

Picture: Survey Reveals Smart Building Spending Plans And Tech Priorities For 2020

Article written by Ella Tansley

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