Internet of Things in Real Estate

31 Juli, 2018

Internet of Things is indispensable

The Internet of Things (IoT) consists of an ecosystem of sensors, integrated computers and smart devices that are connected with each other and a cloud to collect, analyze and evaluate data.
The term IoT thus refers to all devices that are connected via the internet and accessible via network connections and can be used in a corresponding ecosystem. IoT has already found a firm place in a large number of private households and is also indispensable in the commercial sector. Especially in the field of smart metering and building automation, there is a variety of applications. To ensure the function, however, full coverage with WLAN or Bluetooth in buildings is a precondition. Once this requirement is met, there is a variety of ways to use real-time analysis to reduce costs or improve labor productivity. 

Today, e.g. the energy consumption of buildings is measured, their safety is monitored and maintenance and repair measures are optimized with IoT sensors.

Of course, there are also – solvable – obstacles at this point, such as the sometimes high technology costs, effectively usable analysis models and data security. Unauthorized attacks on the flow of information from connected devices and the interception of sensitive information can damage a company's infrastructure and reputation.

A strategy on this topic should consider the following aspects:

  • Data generation, storage, and deletion policies
  • Weak point analysis of devices and systems
  • Employee training and IoT privacy policy
  • Uniform cyber security standards and guidelines

Companies with mature and affordable systems will be able to leverage strategic benefits that not only reduce costs, but also increase employee satisfaction over the long term.

Future Impact

In the coming years, this technology will primarily affect asset management as well as property and facility management. According to our Real Estate Benchmarking Survey, as many as three-quarters of respondents believe that the interaction with customers will change significantly. Already 73 percent of executives put the IoT on the business agenda.

The practical utilization of this technology just began and requires further development. At the moment, the acquisition costs for smart home or office solutions are still relatively high. With the further expansion of the technology, however, economies of scale will take gain. Hence, the next few years the Internet of Things can gradually be integrated into our everyday lives across the board.

Start-ups

Disruptive Technologies

Disruptive Technologies is a complete sensor solution for easy-to-handle, scalable IoT. Learn how real-time sensor data can help you optimize your plant performance, reduce maintenance and inventory costs, control energy consumption, and improve safety and comfort.

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Lift Technology

The lift-guard unit of start-up Lift Technology provides visibility into elevator, safety and maintenance requirements by using high-end sensor technology. It works without touching the elevator’s hardware system and thus completely independent of the manufacturer or the installed components.

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ComfyLight

The product ComfyLight consists of LED light bulbs and a mobile app. Sensors built into the light bulb document the movement patterns of residents and simulate them when they are away from home. The goal of ComfyLight is above all to avoid burglaries. In the event of a break-in, ComfyLight warns residents using push messages to their smartphone.

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Enertiv

IoT-based predictive maintenance and submetering solutions for commercial real estate, with a focus on multifamily and office portfolios. Reduces operating expenses, maximizes tenant comfort, and delivers full transparency into building operations across an entire portfolio.

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Lotik

Lotik Wireless sensors provide point-of-use water monitoring to track usage and detect leaks before they happen.

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Radiator Labs

Low-cost radiator retrofit allows convective heat transfer turned on and off at each radiator location without contact with plumbing.

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Flo

Flo Smart home water monitoring and shutoff system that proactively detects microleaks and other vulnerabilities anywhere in a home water system, protecting the home, promoting maintenance and empowering conservation.

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Contact us

Susanne Eickermann-Riepe

Head of Real Estate, PwC Germany

Tel.: +49 69 9585-5909

Julia Arlt

Global Digital Real Estate Leader, PwC Austria

Tel.: +43 1 50188-2830

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