Today, the Internet of Things (IoT) is impacting every industry, and the property or real estate industry is not an exception. The advancements of the Internet of Things in this industry is expected to change how we obtain and interact with the structures in which we live and work. The property industry in the current situation of the pandemic is facing a crisis globally due to the slowdown in demand. However, property developers and companies have realized that they need to incorporate modern technologies into their projects to stay ahead of this digitally driven world. Companies are designing modern apartments with innovative and fashionable fixtures and accessories at the same time incorporating techniques to enhance the overall energy efficiency. Everything from smart assistants to smart fridges and lighting, the Internet of Things(IoT) is helping them make lives better. Some of the IoT developments included are:
- Smart Assistants: Smart Assistants like Google Home and Amazon Echo has become a popular feature in houses worldwide. These can be connected to devices in the house thereby helping in planning, alarms, and controlling the devices via voice commands and so on. IoT is enabling this communication possible between the devices.
- Smart Lighting and security: Smart security systems and IoT development enable the people to stay connected and access everything going in and around their homes even when they are out for work.
The smart home technology provided by IoT gives enhanced security, saves time and energy as well as increases the resale value. Thus the technological innovations like IoT are disrupting the way this industry works and are forcing them to adopt newer technologies to provide enhanced customer experience to gain a competitive edge in the marketplace. The huge increase in sensors and numerous other devices to capture data has enabled these companies to provide differentiated value to the customers through smart ways to monitor and control the various equipment in their homes. IoT these days is a part of our home, work, etc. Thus capturing the real-time data from sensors along with analytics, IoT can provide valuable insights to these companies and hence have the potential to change the way we live.
