The prevalence of Internet of Things (IoT) technology has changed the way we live and work, and few industries have felt it more than commercial real estate. After all, modern businesses rely on smart technology to help their companies work more efficiently and effectively in ways that you may not have thought of.
Sensors, Automated Buildings and How They’re Changing the Way We Do Business
The introduction of sensors has completely changed the way that buildings are managed. Imagine having a device that tracks temperature, lighting, and movement in various rooms throughout the building and makes adjustments to ensure every room is optimized for comfort. In fact, the use of sensors in commercial real estate property is expected to experience a compound annual growth rate of nearly 80% from 2015 to 2020.
1. Optimal energy usage
One of the major benefits that comes with having smart buildings is curbing energy expenditure. Considering that commercial buildings waste about 30% of the energy they use, sensors are great for promoting a greener business culture while saving money on utilities. In addition, thanks to cloud technology, buildings can be controlled by a system operator remotely.
2. Better space utilization
Just like electricity and water, people are also an important resource that’s tracked using smart sensors. Understanding our traffic patterns within a single building helps developers understand how we navigate our workspaces and how they can better optimize office space to provide us with what we want while getting the most out of their square footage.
3. Safer and more secure working spaces
Another way that smart building technology has revolutionized the way that we work is through promoting a safer and more secure workspace. Sensors throughout the building are able to pick up on various problems or mechanical failures and send an alert before these problems become serious; these issues include everything from working equipment that isn't running effectively to potential fire hazards. In addition, since most of the building's features are integrated into smart building, locking down specific doors and broadcasting emergency alerts has never been easier.
4. Target a specific group of people
Smartphones and Bluetooth beacons have changed the way businesses market themselves. In the world of CRE, beacons allow agents to electronically connect with anyone on the property who has a smart device set up for beacon usage. Imagine having informational packets sent to prospective renters’ mobile devices the moment they step foot on the property.
Along with marketing and delivering important information, beacon technology can also be used to track individuals’ movement throughout a building. This can then be used to have lights and air conditioning switch on when someone enters a room, or have doors lock when someone walks down the hallway.
The Path Forward
Smart technology isn’t only being used to maximize buildings, it’s also being integrated into a number of cities across the world to improve the lives of citizens and commuters. Technology has since become an essential tool to manage small and large businesses alike. In the field of CRE, IoT devices make tracking data and managing buildings half as complicated as it was a decade ago.