Active IoT Connections in EU Smart Buildings Expected to Hit 154M by 2025
The proliferation of IoT-enabled devices is growing at an exponential rate. Take Europe as an example. In 2017, there were 78.6 million mobile IoT connections in Western Europe. By 2023, that number is expected to reach 433.9 million; a roughly 500% increase. No where is it growing as fast as the real estate sector, where experts estimate a 1000% increase in IoT-enabled devices by 2025. One thousand percent.
Those numbers are astonishing. Companies are developing IoT-enabled devices for nearly every aspect of a building, like parking, access, security, ventilation, lighting, cyber security and energy load management. The seemingly endless possibilities create a unique problem; managing the IoT ecosystem. With nearly as many different systems as devices, getting them all to work together isn’t any easy task. In Europe leading providers like KPN has its IoT Academy while Vodafone has its IoT Labs.
IoT-based device reporting and analytics have the potential to be yet another game changer for the real estate industry, offering more insight into ways to optimize energy efficiency and operations. IoT devices enable a proactive management strategy, allowing managers to better strategize about ways to increase device synergy and efficiency.
The coming tsunami of IoT devices will be one of the real estate industry's greatest challenges and biggest opportunities. One thing’s for sure, real estate is now in the age of Big Data.
Read the full report: https://etno.eu/library/reports/22-annual-economic-reports.html
