IoT is proving to be a huge boon to commercial real-estate management. IoT provides the technologies to assist in facilities management through the collection of data from thousands of sensors that can monitor and manage environment control.
For example, by adjusting building temperature to optimal levels throughout the day as well as reducing energy waste on lighting and water heating.
Gartner estimates that in 2016 more than 1.6 billion sensors will be deployed in Smart Cities, which is a rise of 39 per cent on 2015.
The benefits of the IoT are felt particularly in industrial zones, office parks, shopping malls, airports or seaports. As Ms. Tratz-Ryan, the research vice-president at Gartner explained, “the IoT can help reduce the cost of energy, spatial management and building maintenance by up to 30 per cent.”
It is building information management systems and their applications that drive operations management, which are fuelling the growth in IoT in commercial buildings. However, commercial buildings may be the leading use of IoT sensor technology but other sectors within Smart Cities, such as smart homes, transport and utilities, are not far behind.
As an example of the strengths of IoT in Smart Homes, it is expected to account for 21 per cent of IoT applications in Smart Cities in 2016, and will continue to grow due to increasing devices in the home being embedded with WiFi.
Bettina Tratz-Ryan, said: "Smart commercial buildings will be the highest user of Internet of Things (IoT) until 2017, after which smart homes will take the lead with just over 1 billion connected things in 2018."