More and more companies are integrating smart building technology into their facilities. A recent Markets and Markets report predicts that the global smart building market is expected to grow from $60.7 billion in 2019 to $105.8 billion by 2024. Smart building construction is changing the course of development for improved worker productivity, sustainability, security and operations.
Smart building projects work to enhance a building’s function and lower maintenance costs after construction. Let’s take a look at some of the advantages that smart building construction offers businesses.
Safety
Smart building technology offers enhanced security with emergency notification systems, gunshot detection technology, AI threat detection, building management systems and more. These technologies all have the ability to communicate with public safety to inform first responders immediately in the event of an emergency.
Energy Efficiency
With the use of smart technology, businesses can greatly reduce energy consumption. Not only does this type of smart building design save money, but it also helps businesses meet their green goals and responsibilities.
Occupant Health and Productivity
Smart buildings are specifically designed to provide occupants a comfortable, optimal experience. Smart building technology allows you to moderate building temperatures, track indoor air quality and make improvements to provide tenants and workers a healthier working environment. Healthy and comfortable working conditions improve productivity, allowing companies to satisfy and retain their employees.
Lower Operating Costs
There are several ways smart technology can help businesses cut operating expenses. Smart building control solutions can transform your lighting and HVAC systems into proactive, cost-saving energy machines. You can also eliminate IT hardware costs with cloud-based software and extend the life of your business equipment and machinery with smart monitoring and predictive maintenance.
Increased Property Value
Smart building development can give your real estate property a major competitive advantage. Today’s buyers want to purchase buildings with smart applications already installed, therefore increasing your commercial real estate property value.
Smart Data
Smart buildings offer smart data pertaining to electricity, water consumption, hourly space utilization, and more to help tenants make better use of their resources. Occupants can pinpoint areas of waste and address them. Predictive maintenance technology can also decrease maintenance costs by warning occupants when parts need to be replaced.