Seven Technology Trends for Taking Real Estate Sector to the Future

By admin_user In Technology Trends On May 20, 2021

When it comes to facilities management, smart building solutions work wonders in the real estate sector. The multi-billion-dollar smart building solution development market is growing by leaps and bounds by integrating multiple technologies. These days, smart building solutions manage multiple processes and facilities ranging from climate control optimization to smart parking lots and controlling lighting systems to managing HVAC. 

Simply put, advanced solutions for smart building using IoT, AI, Augmented Reality Remote Assistance, and other emerging technologies have many use cases and vast scope for the modern real estate sector. A fully integrated network of sensors, microchips, and actuators can generate raw data constantly, and an AI-powered system can convert the same into key actionable insights. These insights are useful for bringing improvements in various facilities and amenities of modern buildings. Facilities managers and building maintenance staff can get great help from smart building solutions using AR and IoT. 

Let’s understand the key technology trends for developing smart building solutions. 

Seven Technology Trends for Smart Building Solutions

1. Internet of Things (IoT)

The most important and useful concept for developing a tailored smart building solution is IoT. The IoT-powered smart building solution is integrated into the building’s system. Be it self-learning thermostats or utility meters, IoT works wonders in every use case. Recently, applications for smart building using IoT have emerged for commercial and industrial properties as well. 

IoT-enabled asset condition management and other features can assist realtors to improve internal operations of the buildings thereby enhancing the occupant’s experience. It is a highly convenient and friendly way for the users. 

2. BAS or BMS

Building Automation System (BAS) or Building Management System (BMS) is a controlling system for Building Automation. All these systems are compatible with customized IoT solutions and powered by AI (Artificial Intelligence). BAS or BMS is capable of monitoring and controlling various parameters including temperature, humidity, electricity, and water pressure. 

Building Automation offers many benefits including increased energy efficiency and reduced operating costs. A centralized network and automated controls further boost the occupant’s experience. 

3. AI and ML

Artificial Intelligence (AI) and Machine Learning (ML) are gaining momentum in every industry sector, and the real estate sector is no exception. AI has many applications within smart buildings. It is easy to analyze the data collected by the IoT network of the smart building for AI-powered devices. These devices apply deep learning to understand objects and environments hierarchically. On that basis, they can make adjustments as per the user preferences or actionable insights.  

4. Augmented Reality (AR)

It gives an immersive experience of the real world. Augmented reality apps are highly useful for making buildings smarter. A camera and viewing device like a tablet, smartphone, or eyeglasses are sufficient to experience the AR technology.  This technology is useful in combination with BIM (Building Information Modeling) for facilities management. Augmented reality remote assistance and other applications are useful for giving warnings, showing dates of installations, and troubleshooting. During outages or emergency situations & AR-based apps can help occupants and realtors alike. 

5. Virtual Reality (VR)

Though VR is yet to be mainstreamed in smart building solutions & the construction industry has already embraced it as a useful tool for mockups. VR-powered mockups enable prospective and existing customers to experience a proposed building even before it is built. In recent years, this technology has become more affordable, and we will witness its rise in facilities management in the future. Dynamic quality checks, virtual walkthroughs, and other use cases can make the facility management software more advanced and user-friendly. 

Also Read- Why Digital Transformation is a Must-Have Strategy for Enterprises in 2021

6. Building Information Modeling (BIM)

This 3D model-based process can record and display the physical and functional characteristics of the facility. AEC (Architecture, Engineering and Construction) professionals used it in the past. Tt has been getting mainstreamed in smart building solutions in recent times.   

BIM provides useful visual and spatial information for facility repairs and renovations. It is possible to ‘move’ the wall object to determine if it could be placed elsewhere using BIM technology. It offers better utilization of space & increases the efficiency of building.

7. Drones

How about using Drones inside a building or retail space? Aerial drones can offer intelligent support and take over many time-consuming tasks to make employees free to focus on other important targets. With the help of AI technology, drones can be operated autonomously from remote places. Drones are useful for smart offices, showrooms, and mega malls. From inspecting hard-to-reach equipment to detecting trespassers in the premises, drones can do multiple tasks with ease.

Concluding Lines

Smart building technology can modernize the facilities management and make occupants happier. A highly connected digital infrastructure with ML, AI, Augmented Reality Remote Assistance, and IoT-based features can remove the burden of mundane tasks and bring automation in various processes to keep the building or property more appealing. Advancing technology will make smart building solutions more advanced for customers, employees, and occupants in the coming years. 

Rejig Digital is a leading IoT and AR-based solutions provider for assisting enterprises to transform key processes. Our smart building solutions are customized to meet all diverse and complex requirements of facilities management & make your buildings smarter. Do you want to know more about our smart building IoT solution? Simply drop us a line at info@rejigdigital.com, and we will get back to you with an effective strategy for your real estate business. 

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