Dominating Technology Trends in Property Management Technology

By Apac CIO Outlook | Thursday, August 20, 2020

Property managers, building owners, and engineers are using machine learning to make the best use of data and unlock insights into market trends, building performance optimization, and other applications.

Fremont, CA: Every industry has been impacted by digital transformation, and the real estate was no different. Property managers, building owners, property managers, and building engineers alike are striving to replace outdated decision-making models business operations and equipment in an effort to deploy innovations that will reduce operational costs, improve tenant relations, increase energy efficiency and elevate overall asset value.

Let us look at some trends in property management:

Drones

Drone technology is growing rapidly, becoming more efficient and budget-friendly. Property managers and building owners are striving to integrate drones for aerial surveillance of buildings and outdoor spaces. This will allow security personnel to monitor large areas efficaciously.

Machine Learning

Machine learning has made it possible for internet-connected devices to generate datasets for buildings, which seemed a distant notion a few years back. Property managers, building owners, and engineers are using machine learning to make the best use of data and unlock insights into market trends, building performance optimization, and other applications.

Augmented Reality

Augmented reality (AR) is best known for its recreational uses, such as AR goggles and video games. The immersive and interactive digital experiences created by AR can solve a number of complex property management issues. For example, computer-generated images can assist HVAC technicians and other property vendors in repairing building equipment by adding visual information, including interactive directions as well as three-dimensional model specs.

Robotics

Though robotic technology is still at its infancy, it has been successfully implemented and in the aerospace, medical, and agricultural industries. The real estate industry is likely to witness robotics playing a crucial role in reducing construction labor shortage in the years to come. Besides, implementing robotics will accelerate construction processes and reduce on-site injuries.