It’s estimated that the North American smart building market is projected to grow to 121.6 billion by 2026; it’s worth taking notice!
Smart buildings are a large part of creating a sustainable future, as about 28% of global energy-related CO2 emissions are directly correlated to the operation of buildings. As we continue to move forward towards a highly sustainable future, you as a CRE investor can greatly benefit from smart buildings. Think of investing in smart buildings as financing the next frontier of making people’s lives more efficient and sustainable, while reaping the financial rewards of investing early in the market.
Between work and home, North Americans spend about 75% of their time indoors, so comfort is extremely important. Smart buildings can include hospitals, data centers, and offices so the possibilities for investing in these infrastructures are endless. The term ‘smart buildings’ refers to the protocol that enables properties with lower power but longer-range connectivity. A smart building is based on the structure of IoT (Internet of Things) that uses hardware, software, and connectivity to manage security, HVAC, and lighting to reduce a company’s carbon footprint.
In simple terminology, smart buildings are connected to wireless sensors to be deployed throughout a building to reduce electricity in areas that are not occupied. Utilizing the automated control of a building’s electrical systems, a comfortable environment can be created for all occupants while consistently lowering their environmental impact. The best part? Modern smart solutions can be embedded into older buildings so most properties have the potential to become ‘smart buildings’.
Green buildings are, and continue to be, at the forefront of a large CRE revolution. As the demand for sustainability is getting more urgent, the people and the planet can greatly benefit long-term!
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