In this case study, we are looking at how Bisly managed to take the amount of smart buildings in the multi-family residential market in Estonia from 4% to over 60% in less than four years.
Setting the scene
Back in 2020, when Bisly first entered the real estate market, so-called ‘smart home’ solutions covered a mere 4% of the total annual new multi-family residential market volume. The solutions were used solely in the super premium segment for apartments highly focused on providing ultimate convenience for its residents.
At the same time, the market was in dire need of smart building solutions that could boost both energy savings as well as the living comfort of the occupants. On top of direct energy savings thanks to features such as smart HVAC controls, smart building systems also help to create a user experience perfect for improving further energy savings. Add the convenience of remote access control systems, and buildings will also benefit from indirect emissions reductions.
Introducing a new solution
Seeing the potential for significant improvements in the local real estate market, Bisly introduced its innovative smart building solution to the Estonian market in 2020. By entering the market with a product that enabled the construction of smart buildings for real estate developers without or with a minimal add-on cost, the idea of developing smart buildings suddenly became more feasible than ever before.
However, as with any new product, Bisly had a few obstacles to overcome before the market would fully embrace the innovative solution. Not only did the company have to combat the deeply-rooted perception that all smart building technologies were expensive, but the general consensus was that such technology usually came with a low and unreliable quality.
Fortunately, Bisly was confident in what they had to bring to the table and knew they had what it takes to stand out from the competition. Bisly’s solution is the only smart building technology solution that’s designed from the ground up to scale. This allows mass deployment of the technology whilst maintaining a price point and quality that’s applicable to the entire market.
A standard smart building solution consists of building management software, end user applications, smart metering, and HVAC and access control. In commercial and public buildings smart lighting solutions are the most common add-on solutions, while in residential buildings it’s generally shades and smart lighting solutions.
Benefits for the real estate market
The introduction of smart building solutions has had a significant impact on the real estate market as a whole. It is now becoming a new industry standard thanks to the convenience it provides as well as, in Bisly’s case, the energy savings and reduced emissions it results in. To give you an idea of the kind of effect smart buildings have had on the real estate market, the best comparison would probably be the introduction of central locking in the automotive industry.
When it comes to the reduced emissions related to the development of smart buildings, it’s clear everyone’s a winner. On top of that, the end users benefit from the convenience that comes with the technology, making for a comfortable and healthy living space. At the same time, building developers, construction companies, and property owners now have a building management solution that not only offers transparency and increases property value, but also enhances client satisfaction and cuts overhead costs.
Just getting started
From 2020, when Bisly first entered the market, to now, less than four years later, smart building penetration in Estonia has increased from 4% to 60% of total multifamily residential market volume (yes, total volume). At the same time, Bisly has successfully deployed its technology in both central Europe and the UK. As another testament to the value of Bisly’s innovative solution, all real estate developers the company has previously worked with are already planning to partner with Bisly on their upcoming projects as well, meaning 100% of our partners are returning customers.
Since adopting ESG principles, the smart building market is going through a rapid transformation. This involves every segment, from smart lighting to new building management system requirements. With that, an even greater potential for reducing CO2 emissions has been unlocked and at a significantly lower cost than from the ongoing EV transition.
Contact our team
If you are a construction professional looking for a scalable, easy-to-install smart building system that requires no coding, Bisly is ready to help.
Contact our team today for a tailored solution.
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