TECHNOLOGY
By Jon Simpson
The New Smart Space
IoT Trends And Tech
In Commercial Real Estate
B
ack during the turn of the 21st-century,
businesses and commercial real estate
professionals alike speculated about
the concept of a “smart space,” one that was
fueled by innovative technology — now, it has
become a reality.
Offices and other workspaces are rapidly
being upgraded by smart technology that
helps increase the efficiency of functions,
boost the productivity of employees, and
minimize costs. This is made possible through
Internet of Things — a computing concept
that connects physical objects with the
Internet and allows networks to be formed
where devices communicate with each other.
The applications of IoT technologies for
business-focused properties are substantial
and consequently, are deeply impacting
commercial real estate.
Below we explore the top IoT trends that are
affecting commercial real estate and new tech
hitting the market to keep on your watch-list:
Increased Energy Efficiency
A top trend in IoT for commercial real estate is
the focus on increasing the energy efficiency
of utilities in properties. IoT is completely
revolutionizing energy consumption in
workspaces and becoming a popular
implementation with utility companies who
also reap the benefits of this change. By 2020
the size of IoT in the utility market is predicted
to reach $12 billion.
www.aamdhq.org
JANUARY 2020
TRENDS | 43