Improving Asset Management Is The New Frontier For Embedded Software Products

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Executive Summary

Within the past five years, the cost of embedding sensors and software for edge analytics and decision-making into building equipment has significantly declined (see Verdantix Is Demand-Side Energy Management Ready For The Internet Of Things?). Industry leaders such as GE have popularized the concept of the Industrial Internet of Things (IIoT) and are now embedding new data capture and communication technology in all of their equipment. The tighter integration of software and hardware is aimed at more closely linking facility operational insight with action to drive improved facility performance. This report will help heads of strategy and product managers in firms providing building technologies and energy and facility services to understand how these technology improvements work for solving customer pain points.

Table of contents

Improving Asset Management Is The New Frontier For Embedded Software Products
Embedding Software Into Assets Is A Hotbed Of Innovation
Escaping From Costly Reactive Maintenance Provides The Highest Value Improvement For Asset Managers
Embedded Asset Management Products Deliver On Business Case Must-Haves For Organizations
Vendors Need To Address Four Concerns When Positioning An Embedded Asset Management Solution

Table of figures

Figure 1. One-Third Of Facility Managers Plan To Outsource Energy Management Processes

About the author

Derrek Clarke

Senior Analyst

Derrek is a Senior Analyst in the Verdantix Smart Buildings Practice. He conducts Verdantix research on energy management and the optimization of building systems covering technologies, best practices and growth strategies. His current agenda is focused on establishing facility optimization software as a distinct category of technology investment. Derrek has ten years of experience as a licensed architect. He joined Verdantix in 2014 and previously worked at global architecture and engineering firm HOK. Derrek holds a Masters in Architecture from Parsons and a Masters in Sustainability Management from Columbia University.

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