Internet of ThingsSmart devices are now a part of everyday life. They can interact and share data automatically, making life easier. Retailers have already acknowledged the multiple benefits the loT offers in their industry, but can the loT have a significant impact on other sectors? The answer is yes, absolutely.  In particular, the loT provides a multitude of benefits for facility management.

The connectedness of the IoT and its ability to monitor energy, predict maintenance needs, track inventory, and more is starting to draw attention in the industry. Let’s explore some these benefits and how they can impact facilities.

How the loT is Making Buildings Smarter

Smart building technology is expected to grow 34 percent annually over the next five years. That means by 2021, the total market for loT integrated smart buildings is predicted to be $24.17 billion. With the investment of that amount of money, smart buildings must offer a vast amount of benefits to companies. And they do. For example, the loT and smart buildings allow predictive maintenance in many forms.

The loT receives data from multiple building functions to predict maintenance needs. By processing past and present usage, apps can identify problem areas and correct them automatically, or alert facility management teams of any potential issues in advance. Predictive maintenance like this isn’t limited to a single building function, either. For instance, IoT connected devices can monitor and communicate data from HVAC systems, lighting, elevators, and more. which saves more than just energy; loT predictive maintenance is estimated to save a company 15 percent of their capital asset spending.

loT and Simplifying Facility Management Problems

Smart buildings with loT capabilities not only predict maintenance needs, but they also diagnose and locate current maintenance issues. With every facility device reporting back to a central hub, the hub gives the facility manager a detailed description of what device is having issues, as well as the location of that particular device. This comprehensive overview of all devices and functions saves time and effort—both valuable business resources.

But predictive maintenance and pinpointing the location of current problems wouldn’t be a possibility without a centralized management system.

The Value of a Centralized Management System

An open smart building platform—open-source and open-protocol—allows IoT connected devices to operate and monitor every necessary building function simultaneously. With an open system, a structure can analyze past and present data and change building services without the additional data transfer that a closed system requires. Also, with the loT and an open smart building platform, data is shared in real-time, streamlining the efforts of facility managers.

Smart Building are Synonymous with Reducing Costs

The U.S. Department of Energy estimates that buildings are responsible for 42 percent of all electrical usage in the U.S. That number is so large that it’s safe to assume some of that energy escapes without use. Smart buildings aim to eliminate wasted utilities, saving your company money while also having a positive impact on the environment.

IoT-connected HVAC and lighting systems can get optimal output from thermostats, lighting, and water systems. Even more than thermostat control, advanced smart buildings can adjust shades and monitor the temperature in particular rooms. These functions save companies and facility managers money, which means more profit.

When the loT, smart buildings, and a centralized management system are all in place, facility managers have all the tools needed to be as successful as possible. With smart buildings using cutting edge technology, you might think changes to essential functions are automated, and they are—but only if you want them to be. That’s an important distinction: Facility managers have the option and the ability to choose how to use the various functions smart buildings offer to cultivate best the work environment they want.

The Takeaway

Businesses are constantly looking for ways to improve the bottom line, and smart buildings powered by the loT and centralized and open management systems can do just that. It’s easy to see why smart buildings powered by the loT are expected to grow immensely in the near future.

At Advanced AV we empower live meetings and remote collaboration by deploying the technology that helps your organization connect, communicate and engage with its customers, employees, and stakeholders. Connect with us to find out more about how Advanced AV can help you achieve your business and technology goals.

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