The evolution of IoT is tremendously affecting the building and home automation application area. IoT is expected to reduce the costs and efforts for instrumenting a sensor-based building. The building and home automation space is expected to witness several opportunities for tapping new construction building projects for integrating automated systems into existing infrastructures to save energy consumption. IoT-based data management solutions extract useful information from condensed data and avoid faulty alarms and error messages. IoT is also adding value to building systems by offering end users a broad catalog. IoT-based devices are more autonomous and intelligent in sharing data with building automation systems. They provide an administrative user interface and the data analytics function. Moreover, they also analyze buildings, weather forecasts, and historical data of heating and cooling systems. Analysis of this data can help in decision making, ease energy consumption, and lower operating costs. Furthermore, IoT data management solutions offer optimized resources for predictive maintenance and energy management.