Precision metering: Smart meters deployed for entire buildings allow more precise monitoring of energy consumption throughout the building, while using smart electric plugs allows tenants to detect high-energy devices and take appropriate actions to reduce their consumption.
Efficient heating and cooling: Using sensors, smart thermostats can now monitor indoor/outdoor air temperature, humidity and the presence of people in a room. This data can then be used to intelligently control the HVAC, heater and ventilation systems inside buildings so that they cool or heat rooms only when necessary to reduce energy costs.
Maintenance: The use of sensors can dramatically reduce maintenance costs by using 'predictive analytics' and 'on demand' services. For example, water flow and presence can be monitored to identify water leaks early, before costly damages occur. Elevator motors and equipment can be monitored to detect early signs of potential failure. Dirty windows that become hazy can trigger an automated cleaning service request. Trash cans can inform operators of their fill status and request pickup when they are full. Using a connected wall button, restrooms user can alert maintenance services when they need to be cleaned. Pest traps can alert operators. when rodents are caught so they can be removed before they decompose and emit a bad smell.
Safety: Smart sensors in buildings make everyone safer by monitoring and reporting a wide range of issues, including fires alarms, office air quality, dangerous chemical detection for industrial buildings, and structural integrity reports such as when a building has been through an earthquake.
Security: Occupants can be equipped with badges to control access, but also provide presence information. Motion detectors can be used to detect intrusion. Window and door opening detectors can be used to identify open entry points that should be closed, and remote control allows them to close without setting foot on site.
Space optimization: Real-time occupancy, geolocation and foot traffic data can be used to identify spatial usage patterns, allowing space efficiency optimization and reconfiguring offices and retail location layout based on real usage data to increase building density usage.
Real-time insights: Access to traffic data can also be used to propose solutions directly to tenants. For example, building managers can use the information to optimize interactions between occupants to increase productivity, devise action plans for peak hours, deliver targeted information (i.e. safety, special events) in strategic places, and improve tenant health by providing fitness insights.
Sustainability: New trends are placing social responsibility at the forefront of corporate governance. In the United States, B-Corps have been created to recognize social value creation. Sustainability reporting is part of that trend, and the emergence of standards such as GRESB and GRI, will likely become an important metric for the smart building ecosystem. Automated integration of data collected can facilitate sustainability reporting and reduce associated costs.
New sources of revenue: Direct marketing, developer industry insight on occupant needs, tenant productivity improvement, investment advisers.
Differentiation in the market: Lower utility bills, no tenant issues (i.e. issues fixed before they become visible through predictive maintenance), increase to property values.
Valuation: More precise and granular valuation based on real data (owner side, but also tenants with specific requirements).
Financial benefits: Real-time data for real estate valuations allowing standardized risk profile.
Fully integrated systems benefit users in many ways. For example, connected systems allow all data to be combined, analyzed, and acted upon automatically to reduce the costs
associated with manual, error-prone processes. In addition, the breadth of available data gives users strategic insight on industry and social trends, which facilitates decision making, enables ERP integration and provides predictive analytics.