The convergence of the Internet of Things, cloud computing, big data and data analytics will open up new business opportunities for both building technology and information and communications technology companies, according to new research from Frost & Sullivan. These platforms are expected to become the pillars of smart building evolution in terms of technology, business value and customer satisfaction, the firm says.

The report, “Big Data as an Enabler for Smart Buildings,” finds that urbanization, the connectivity and convergence of smart technologies, and communication between smart devices are the three big trends that will drive the development of the smart buildings industry.

“The ongoing convergence of operating technology and IT indicates that key technology advancements will gather pace in the fields of data analytics, cloud services and IoT,” Anirudh Bhaskaran, Frost & Sullivan research analyst for Energy and Environmental Research, said in a statement. “Big data, especially, will emerge as a more valuable delivery model owing to affordable upfront costs and lower resource usage.”

Furthermore, big data provides an open platform that allows for the integration of data from different systems, the study says. The technology’s scalability is another crucial benefit that will underpin its value in the smart building space.

The integration of information and communications technology and building technologies to satisfy the technical demand for big data and analytics applications will lead to new partnerships between data analytics and building technology providers in the near future, the firm says.

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