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Smart spaces are big business and are getting bigger.
Smart spaces are big business and are getting bigger.
And that means they will require solutions that are just as smart to support them. For solution providers, that means providing customers with a firm hold on how IoT devices are managed, protected, and deployed for maximum benefit.
Smart spaces - locations or campuses designed with multiple (at times, legions of) devices at the edge - are now a market projected by research firm SNS Insider to reach $46 billion by 2032.
These environments are perfect for solutions such as Schneider Electric’s EcoStruxure IT, which can monitor these devices, collect and process their data in real-time, and keep them monitored for uptime, performance, and efficiency.
Why?
“Governments globally are advocating for IoT integration in public areas, leveraging AI and data analysis to improve energy efficiency, safety, and user experiences,” the analysts said. The SNS Insider estimates line up with other industry projections. This rapid expansion is supported by 5G connectivity, newer hybrid work models and lifestyles, and growth in AI that consumes all of that data to provide actionable intelligence.
Offering Core Solutions
Schneider Electric has long been offering core solutions for deploying, managing, tracking, and evaluating IoT devices for those very reasons. While traditional deployment has been in small, mid-size, or large businesses, the expansion of the Smart Spaces segment means it can now run the gamut.
IoT or edge devices rolled out through a location support smart spaces through the constant development and communication of all sorts of data - from IT and environmental-related information to automation for turning lights on or off.
EcoStruxture is Schneider Electric’s IoT-enabled, plug-and-play, interoperable, and open platform. As a platform, it also provides AI-enabled analysis and lifecycle forecasting. For solution providers, it has been a means to give customers increased energy, efficiency, sustainability, and cost savings.
Find out more about Schneider Electric’s partner program here.
