Predictive Building Analytics: The Future of HVAC Automation

Source: Trane

Would you feel more confident in your building’s performance if technology could predict equipment failures before they happen? In the Internet of Things (IoT) age, this level of insight is possible and is known as predictive analytics.

Across all industries, IoT is expected to grow from $900 million in 2015 to $3.7B by 2020.(1) Thanks to the expanding amount of smart technology, many things we interact with daily — including televisions, refrigerators and stereos — have internet-capable sensors to make every-day tasks easier. Even though this might seem like a 21st century fad, IoT is driving business growth in all industries, including HVAC.

Rapid Growth in IoT

The global building automation and control systems are marketed to grow at a CAGR of 9.52 percent from 2017 to 2021.(2) This rapid IoT growth is allowing building owners and managers to proactively manage their facilities with technology that turns electricity, security, lighting, appliances and HVAC activity into data. And the ability to collect and analyze actionable utility insights is driving major savings and efficiencies in commercial buildings.