What Are IoT Solutions?
Definition
IoT solutions are software programs that leverage data captured using Internet of Things (IoT) devices. Some IoT solutions are “point solutions” that specialize in the data from one type of sensor, others integrate multiple sensors to identify a broader range of insights. Companies deploy IoT solutions to reduce costs, improve occupant comfort, save time and as an insurance policy for disaster scenarios (such as flooding).
Why it Matters
IoT solutions come in many different shapes and sizes. Everything from an Alexa or Nest thermostat to industrial-grade vibration sensors.
The power of IoT solutions comes from the low cost of sensors, easy installation, and continuous streams of data. In addition, innovations in networking have helped elongate the battery life of wireless sensors and enabled providers to require very little infrastructure to connect the sensors to the internet.
In commercial real estate, IoT solutions are primarily used to continuously monitor conditions that indicate a major issue. For example, using temperature sensors to track whether pipes are in danger of freezing. In the COVID pandemic, if building owners want to operate buildings safely, they can leverage sensors to capture the indoor air quality data - temperature, humidity and CO2 level - to minimize transmission risk. Enertiv’s AirWatch solution not only tracks air quality measurements it displays this data to tenants through dashboards to create trust that their space is safe.
As the number of IoT solutions tailored to commercial real estate grows, the value has shifted from just providing “point solutions,” such as leak detection, to providing a generalized smart building technology that can utilize any number of different solutions.
