Commercial real estate is a huge market. As tenants’ expectations continue to grow and evolve, building owners and operators are tasked with finding new and innovative ways to meet their ever-increasing needs.
In this article, we discuss an overview of how the Internet of Things (IoT) and Power over Ethernet (PoE) technology allow for commercial real estate owners and operators to meet their tenants’ needs by optimizing energy efficiency, retaining control of their energy usage, and being able to customize settings based on dynamic needs and utilization.
We’ve already explored how IoT benefits both the healthcare industry and the hospitality industry. Here, we will showcase the capabilities of this technology within the commercial market, which accounted for $20.7 trillion in the U.S. as of 2021.
Why Use IoT in Commercial Spaces?
In the commercial space, there exists a need for a centralized IoT solution to attract and retain tenants, optimize occupancy, and monitor usage data for installation, operational, and energy savings. In a highly competitive area, amenities demanded by future tenants proves crucial. To address these needs, owners and operators seek solutions such as Inspextor by MHT Technologies.
A platform like Inspextor is able to effectively address the lighting requirements of commercial space owners and future-proof buildings for long-term tenant attraction. Inspextor’s integration with 3rd party apps allows IoT ecosystem growth without infrastructure disruption, resulting in significant installation cost savings per floor. The implementation includes PoE lighting for tenant control and sensors for utility usage and occupancy monitoring, among numerous other benefits.
Future-Proofing IoT Infrastructure:
Because IoT (and PoE) technology is ever-evolving, there exists a need for adaptability in regards to the implementation of new technologies. PoE-based platforms such as Inspextor seamlessly integrate with IoT technology, allowing for updated software to enable more customizable controls, settings, and efficiencies.
These technology verticals, in terms of both hardware and software, allow for scalability as well. If a project starts in a dedicated, specific region of a building, it can be retrofitted with relative ease to grow beyond the initial needs. PoE cabling is a much faster and seamless installation process than traditional methods and through the use of IoT based software and features allows for the opportunity to expand beyond contained spaces and encompass an entire property or building, if desired.
Cost Savings:
The level of customization, automation, setting controls, and the streamlined installation process can lead to significant cost savings regarding energy consumption and usage. Through IoT-enabled devices, metrics, data analysis, and occupancy-based settings can be implemented to reduce unnecessary energy consumption leading to a trend towards sustainability and reduced energy expenditures.
In addition to the minimized use of power output, the tangible savings from install, maintenance, and troubleshooting are immediately evident. PoE cabling is simpler and more effective with regard to its installation within buildings of all sizes and is easily swapped out or expanded upon, depending on needs. The installation time and complications apparent in traditional cabling are noticeably absent.
Depending on the occupancy, usage, and needs of commercial space tenants, sensor-based lighting and HVAC controls can play a big role in eliminating unneeded power consumption.
Enhanced Tenant Experience:
Beyond cost savings, there are numerous benefits afforded via the tenant experience through customization, control, and amenities. Platforms such as Inspextor provide tenants with easy-to-manage lighting schedules, tunable light settings tailored to the environment, adherence to sustainability goals, as well as reliable emergency lighting.
Each of these factors allows for a degree of comfort for tenants and occupants as these customizable settings can be adjusted to meet their dynamic needs and allow for peace of mind in knowing that there’s no need to worry about shutting down before leaving the space.
IoT and PoE:
The PoE capabilities of software like Inspextor are best utilized within the IoT space, ensuring a securely managed network. During the installation phase, fiber is run through the building structure to lay the foundation for an intrabuilding network that provides reliability and security beyond basic WiFi. These devices capture data that can help to maximize square footage and floor plans.
As new devices and systems are added to the network, the analytics provided by platforms such as Insepxtor are immediately accessible in one centralized location, eliminating the need for fragmented analytics reporting. With the backbone of the IoT ecosystem in place, seamless additions of new technology can occur, future-proofing the building to react to the needs demanded by tenants both immediately and years down the road. As new tenants seek additional HVAC, security, wayfinding, asset tracking, and occupancy functionality, the property management can respond with enhanced capabilities for a superior tenant experience.
The Benefits of Inspextor:
Inspextor allows for universal communication among previously siloed systems and is centrally monitored by its users. Data capture enables operational savings, and the choice of IoT software solutions such as Inspextor allows for the integration of new amenities, attracting anchor tenants. Whether needed on specific floors or throughout the entire building, IoT platforms such as Inspextor can be applied across a wide variety of commercial space needs.
The foundational tenets of an IoT platform, such as Inspextor, in the commercial space are reliability, scalability, flexibility, customization, control, and security. Each of these concerns is critical towards providing a cohesive, all-encompassing solution. With the advanced software capabilities, easily navigable user interface, and deep customization capabilities, Inspextor provides a fluid, easy-to-use hub for addressing each of these essential needs.
With the implementation of platforms such as Inspextor within the commercial space, building owners and operators can provide tenants with numerous valuable capabilities. From easy and efficient installations due to PoE-enabled hardware to the integration of various customizable software features, IoT-enabled technology creates an environment that is adaptable and scalable to the tenants’ needs.
And, as stated previously, the implementation of both the hardware and software can create energy and cost savings that allow for maximizing efficiency. This benefit is one of Inspextor’s fundamental pillars.
Cisco HQ
One prime example of the IoT (and PoE) solution in use is with Cisco’s HQ in New York City. Their Manhattan-based campus provides a space for employees who work hybrid from home and in-office. The philosophy behind the space was to maximize efficiency through a comprehensive use of IoT and PoE-based technologies. Rather than dedicate specific areas to one individual, the space creates a dynamic shared environment ripe for collaboration. From PoE enabled fixtures to a vast inventory of Cisco-manufactured IoT technology, the space maximizes usage while minimizing energy waste. Through sensors and a constant data feed of analytics, the power usage reflects the occupancy of the space.
This creates an office environment that is utilized efficiently, effectively, and with the ability to customize on-the-fly.
Additionally, Cisco provides ample use cases for the benefits of IoT technology with their own customers here: https://www.cisco.com/c/en/us/solutions/internet-of-things/resources/case-studies.html
Conclusion:
IoT is a continuously evolving corner of the technological market. It’s expansion into the mainstream and increased use across countless industry verticals has helped businesses, building owners and operators, and residents of all kinds to actualize their goals of creating a streamlined, green, smart-tech environment. From cost savings and sustainability to ease-of-use and streamlined implementation, there are no limits towards where this technology can go next. While it continues to develop, pioneering technology such as the Inspextor platform allow for its implementation, use, and evolution today.
Additional Resources & Use Cases:
- IoT in Commercial Real Estate – https://medium.com/mobindustry/iot-in-commercial-real-estate-use-cases-and-solutions-966b0056ba0c
- IoT in Real Estate – https://imaginovation.net/blog/iot-in-real-estate/
- Revolutionizing Retail with Industrial IoT & Energy Analytics – https://harksys.com/resources/case-studies/revolutionising-retail/
