Granlund published its IoT market review at the Granlund Energy Seminar held on Tuesday 16 May 2017. The IoT market review analyses the status of IoT services in the Finnish real estate and construction sector. The prefix, ”smart-”, is widely used in consumer marketing – when will it conquer our traditionally slow-moving sector?
The IoT market review was written by Tuuli Jylhä from the Delft University of Technology, Susanna Sairanen from Granlund Consulting, Ken Dooley from Granlund and Heikki Ihasalo, who represents both Granlund and Aalto University. The 28-page review is a clear and concise package of information for everyone interested in the IoT in the sector.
The report presents the phases of development of IoT markets. In Finland, 90% of IoT suppliers are currently at the first stage of development: they are mainly focusing on optimising individual factors rather than developing processes or creating new customer value and business activity. User-orientation has yet to make a breakthrough.
”Our sector develops slowly, not least for reasons of costs. Technology, on the other hand, develops very quickly. I believe that our development cycle will accelerate, but it will never be quite as fast as in companies in the consumer electronics sector, for example. However, I think that Finland is among the most advanced countries in the world in terms of IoT utilisation. It is worth keeping track of activities in the Nordic countries, the USA and the Netherlands,” Heikki Ihasalo says.
IoT makes everyday life easier
The energy seminar was attended by around 300 representatives of the sector, who showed their enthusiasm for the emphasis on user-orientation, a feature of all of the day’s presentations. Understanding customers’ needs plays a key role, and technology should not be thought of as purely an inherent value. The focus should be on user comfort on the premises – in the future, workplaces will need to draw people in to the office.
”The occupants of buildings want everyday simplicity. They want to be able to focus on their own work and make their days as efficient as possible, from the morning coffee to the end of the working day. Buildings are only smart when they can help employees to work smart,” summarises Susanna Sairanen.
Understanding occupants leads to a leap in productivity
The challenges facing IoT are generally considered to relate to user interfaces and the sheer volume of data, as well as the related security issues. Every expert has their own opinion on user interfaces. Smartness is also required to identify important information among the ever expanding volume of data. However, the report showed that despite the challenges, the IoT is an integral part of the leap in productivity that is expected in the sector, and digitalisation will be seen as an opportunity.
”The IoT is not just technology and data. In order to dispel this myth, we need to think more carefully about the purposes and applications of the IoT, such as creating a user experience, making service faster or saving energy,” Tuuli Jylhä emphasises.
The review presents several case studies detailing successful applications of the IoT. For example, at Disney theme parks, smart wristbands enable a safe, smooth and enjoyable experience, while the world’s smartest building, The Edge, has an ecosystem that serves users, maintenance and IT support.
The authors of the market review have identified five development trends in the real estate business, and they challenge readers to consider whether it is time for the real estate sector to transition away from a technology-centric approach to the IoT towards an Internet of Experience model focusing on customer value.
Find out more about the development trends and the review as a whole by downloading it here (in Finnish) or ordering a printed copy by sending an email with your address to: granlund(a)granlund.fi