According to recent reports, the smart building market is expected to grow from $43.6 billion in 2018 to $160 billion by 2026.1 Fueled by an increased focus on carbon emissions, market demand, potential savings, and evolving laws and regulations, the commercial construction industry is now embracing the concept of sustainable smart buildings. What constitutes a sustainable smart building has also evolved significantly over the past two decades to now consider not only a building’s environmental impact, but also its safety, security, and overall social performance and cost reduction over its lifecycle. As the commercial real estate market becomes increasingly competitive, building owners need to answer the call to make their buildings smarter and more sustainable in a way that considers impact on the planet, the people, and the profit of the business itself or run the risk of lower occupancy rates and property values.

“It no longer just about how the physical plant is performing, but also how it is affecting the people,” says Michael Moran, Microshare CMO and Director of Risk & Sustainability and a co-author of the report. “COVID has changed the constituency within large organizations and stakeholders now include human resources, corporate council, chief wellness and sustainability officers, and the executive suite—and staff, tenants, and customers are demanding clean, healthy buildings. But post-COVID, these technologies will still show up on the bottom line. In modern office buildings, carbon dioxide builds up throughout the day to the point that it affects worker productivity. There are millions to be regained just by monitoring and adjusting air quality.”

To make informed decisions that ensure sustainable smart buildings, stakeholders need insights and benchmarks that can only come from measurable assessment criteria and based on actual data. To effectively collect that data, building owners and operators need to consider emerging technologies and infrastructures that enable cost-effectively connecting a wide range of smart devices and systems within a building and across campus environments, smart communities, and smart cities.

Based on detailed research, recent statistics, and interviews with leading TIA and LoRa Alliance member companies, this paper presents expert viewpoints on smart building sustainability, including: