Verdantix released its annual global survey of 304 real estate occupiers across 16 geographies and 18 industries on their firms’ real estate strategic direction, governance, budgets and priorities in relation to technology decisions. The survey revealed that 31% of interviewees expect their budget for facilities and asset management software to grow by more than 5%.
Respondents revealed these top real estate objectives for their firms:
- Improving the comfort of occupants (28%);
- Minimizing risk to business operations (26%); and
- Reducing operating costs (16%).
“Our Smart Building Technologies global survey provides unique data on the 2020 budgets, business priorities and technology preferences of managers responsible for corporate real estate and facilities management decisions at the world’s largest firms. With the Verdantix Smart Building Technologies survey data, corporate managers can benchmark against their peer group, and tech vendors can align go-to-market plans for 2020 with customer requirements” Verdantix Principal Analyst, Susan Clarke
According to the report, the most significant factors shaping real estate strategies are:
- Space efficiency and coworking (91%)
- Rapidly increasing volumes of building data (90%)
- Sustainability initiatives (89%)
The highest budget increase will be in well-proven hardware solutions such as LED lighting, with 66% of respondents anticipating growing budgets due to mature solutions facilitating an easier budget sign-off.
As part of facilities executives’ strategies to make buildings engaging for occupants, they are evaluating new investments in employee-facing technology such as workplace kiosks (22%), meeting room panels (10%) and voice-activated digital assistants (9%).
Vendors offering workplace software tools include: Accruent, Archibus, FM:Systems, IBM, iOFFICE, Office App, Planon, SmartSpace Software, SpaceIQ, THING TECHNOLOGIES and Trimble.
The majority — 73% — of firms expect their outsourced energy services budget to remain flat, apart from the UAE, where 38% of executives’ budgets will grow in 2020 as they tackle burgeoning energy consumption. Vendors capitalising on this regional growth include ABB, EDF, Honeywell, Siemens and Veolia, who have all established energy services offerings in the UAE.