Top 5 Things You Need To Know About The Internet Of Things And Property Management

Bisnow | Forbes

Posted: 11/06/17

Top 5 Things You Need To Know About The Internet Of Things And Property Management

The IDC predicts that the Internet of Things — the connection of physical objects, people and places through computing devices all over the world — will be worth $1.7 trillion by 2020. Gartner projects a swing up to 13.5 billion “connected things” by the same year. As demand and supply rocket upward neck-and-neck, top-speed, highly capable WiFi will be the cornerstone of the next four years.

1. Smart buildings are quickly becoming the standard — especially in the commercial sector.

Owners of smart buildings are increasingly identifying and repairing glitches in internal systems before they become a major problem — monitoring ventilation, internal and external air, and even heating through smart thermostats and pressure sensors. As consumers demand greater energy efficiency, many buildings are developing greener spaces and cutting regulation and maintenance costs by implementing intelligent predictive analytics.

These systems allow users to customize notifications, establish climate control parameters and make note of patterns and outliers in the environment. Retailers already utilize a number of built-in services to enhance the customer experience, including expedited in-app paying systems, customized shopping guides and informative store tours.

Such an environment enables building managers and owners to maintain direct relationships with their tenants and users. Many homes even incorporate severe weather alerts into their security systems, which can prove useful in geographic locations prone to hurricane disaster — take the Southeast, for instance — or before blizzards in the North.

2. Households are more connected than you realize.

The average United States household retains a minimum of seven connected, frequently utilized devices, while mobile devices such as smartphones and tablets make up nearly 30% of home internet use — a significant leap from 5% in 2011. Canadians are even more dedicated smart-device users than their American counterparts, with an average of 9.9 devices per household.

Most internet streaming households — 65% in the U.S. — utilize video streaming services such as Netflix, HBO and Hulu, as well as video game downloads.

3. Advanced home safety is becoming the norm.

Safety around the home becomes much less of an issue when traditionally “dangerous” household items are programmed to protect residents from danger.

Take the kitchen, for instance; even the most seasoned (pun intended) chefs occasionally burn themselves on a stove accidentally left on too long or set off the smoke alarm and char baked goods beyond repair. Intelligent ovens, smart coffeemakers and smart locks on toaster ovens are all slowly seeping into middle class American households.

Sound crazy? Myriad homes already have burglar alarm systems in place, the most advanced of which are programmed to protect users from savvy hackers armed with malware.

4. Developers must build around greater demand for outlets.

With all these fancy new appliances and devices to maintain, it becomes a question of practicality. How do you keep all those devices charged and running? Older houses built prior to the 1960s may not come equipped with four outlets per room, and residents looking to upgrade a more dated home may need to invest in power bars in high-demand rooms — such as kitchens or bathrooms — to raise the outlet count.

As owners and developers draw up plans for residential and multifamily properties, a matter as simple as re-engineering traditional building structures to increase outlet availability and integrated, high-speed internet capability is the key to the home of the future.

5. The landscape of home WiFi speeds is increasing rapidly.

Three billion smart devices are in active use today. Even in 2017, maintaining reasonably fast WiFi remains a major concern for households with multiple devices constantly in use. Even homes and apartments harboring solid internet connections can benefit from faster speeds, so the kids can stream Netflix while the parents work from home while maintaining home security and operating wireless kitchen appliances without inconveniencing each other.

 

 

 

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