Cloud computing, big data contribute to smart buildings

A large portion of businesses are using technologies to make their buildings smarter, helping decision-makers cut costs and improve efficiency. While companies have traditionally leveraged big data to achieve these goals, a new study by Pike Research found that organizations are now beginning to utilize Software-as-a-Service and other cloud-based offerings as well.

"In addition, advances in software for building energy management systems as well as for building design - through building information modeling or BIM - are making it easier to design and maintain high performance buildings," senior analyst Eric Bloom said. "Going forward, many of these advances will find their way to the cloud, making them more accessible over a broader range of applications and geographies."

Cloud computing has introduced new ways for companies to leverage energy-efficient technologies, allowing decision-makers to cut energy consumption and make the building easier to manage, the report said.

According to a report by IDC Energy Insights, global smart building spending will expand at a compound annual growth rate of more than 26 percent through 2015, eventually reaching more than $10 billion. The cloud will be a major contributor to this market, allowing companies to improve operations and reduce expenses.

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