Think of entering an office space that lights up and sets the ambiance as per your individual preferences! How thrilling! sensors, innovations, and IoT in the workplace - 3 aspects that have transformed the way anyone views an office space. It is no longer a mere building with walls, they are "smart buildings" built to enhance a user's experience.
According to a forecast by Statista, the total number of IoT devices is bound to reach $29.42 billion by 2030! This goes on to show how smart buildings and smart office spaces are transforming living and workspaces. Another survey by Forbes estimated that the global IoT market is bound to reach $1.1 trillion by 2023!
In this blog section let us dive into how IoT in the workplace is transforming your building into a responsive solution with smart building automation.
How Workplace IoT is Creating a Smarter Building Foundation?
Researchers envisioned a world where physical and virtual objects could connect and communicate with one another by connecting to the internet. The term, 'Internet of Things' was coined by Kevin Ashton, a British Entrepreneur in 1999. The applications of which started in the early 2000s from something as simple as doorbells and monitoring inventory. Well! now, in the 21st century, we can say that we are leveraging technology to transform monotonous building operations into less physically demanding tasks!
IoT products are eventful in transforming our ideas into creating a harmonious and comfortable living space. In recent years, modern office workspaces have been blown off with IoT solutions and the use cases are just multiplying with advancements in technology!
IoT development has led to a significant decrease in manual work and workforce reduction and has transformed modern office places. Moreover, toiling with multiple assets, managing abundant documents, and asset data, manual computing of data, and similar functions have now become hassle-free with the implication of IoT in the workplace.
There are several use cases of workplace IoT being used for employee welfare to overcome the hardships they might face in their workspace.
Mentioned below are the top 5 use cases on how workplace IoT is creating a smarter building foundation.
1. Smart office management
IoT-enabled sensors and devices are a pinnacle to creating smarter designs and office spaces. Building automation has optimized office spaces for mindful energy savings and maximizing efficiency. Modern office workspace superseded contemporary workspaces and ensured maximum employee comfort.
Integrating sensors with resources converts them into smarter solutions. The global smart office market size speaks for its own with the projection of it being valued at $90.63 billion by 2030 with a CAGR of 11.1%!
Can you believe that it was valued at only $31.37 billion in 2020?
According to Mordor Intelligence, the market size of smart modern office workspaces is expected to reach $45.45 billion by the end of 2023.
These smart office spaces include smart HVAC systems and smart lighting systems etc. that work with occupancy sensors adjusting the levels as per the temperate and lighting preference of the user or previously set guidelines. IoT devices are also momentous to have achieved customized user experience and ensured exquisite comfort, making every space sustainable and ensuring additional cost savings capabilities.
2. Asset management
From the multitude of applications of IoT systems, asset monitoring, and management is one the important features for businesses to thrive in their market. IoT solutions offer a digital eye to track and manage all the assets in the facilities efficiently. the customization calls for better management of assets in each facility!
Besides, features like inventory management and resources management have been simplified with real-time monitoring functionality. Also, the number of connected devices in industry verticals is forecasted to grow to over 8 billion by 2030, according to a survey by Statista. IoT is also eventful in improving operational efficiency by ensuring immaculate asset management based on priority.
Are you looking for a solution that can root your building foundation deeper?
Did you know that facilities can invest in asset management software and bring home the goodness of a 40% reduction in downtime of assets.
Did you know that facilities can invest in asset management software and bring home the goodness of a 40% reduction in downtime of assets.
3. Workplace security management
A smart building solution is also useful in creating a safer and more secure space for employees to work in. The added reliance on gadgets connected to the web is creating a sense of vulnerability for the user. Smart surveillance cameras, user-pertinent remote access features, access control devices, biometric check-in/ check-out, etc. can ensure a safer and more secure environment for every user.
Besides, workplace security extends to monitoring the health of the employee with IoT-powered wearable devices. IoT products are also useful for creating emergency response systems for a user.
4. Employee well-being management
IoT systems can be used to ensure the well-being and productivity of employees. Something as simple as using a wearable IoT product like a watch or band to track health.
Command-based smart HVAC or smart lighting management systems, following the ergonomics of workplaces, investing in smart desks, etc. are some examples where owners can work on creating a more stress-free and automated working space.
With way-finding the asset location features, enterprises can save 60 minutes for every 4 out of 10 employees! Furthermore, lower rates of employee engagement cost US $450 billion every year. Thus, a smart modern office workspace can increase your chance of decreased employee absenteeism and assure a higher employee retention rate.
5. Remote work management
Facilities management became a possibility with the advent of remote access and remote work management during the surge of the global pandemic. With IoT systems powering audio-video solutions, virtual reality technologies, and several collaboration tools, it facilitated seamless communication and collaboration between teams.
Before the pandemic, only 19% of the organizations indulged in the survey by Cisco had about 50% of the employees working remotely. The numbers rose to 62% post-pandemic. The IoT development and cloud-connected devices provided better stability and tools for employees working from home.
What are the Pros and Cons of IoT in the Workplace?
Office Automation and business process optimization can be easily achieved with IoT services. What are the advantages and disadvantages that IoT devices pose in smart buildings and modern office workspaces?
| Pros | Cons |
|---|---|
Increased efficiency and productivity: Workplace IoT streamlines each building's operations and processes. It also helps promote the productivity of the employee and improves asset reliability. |
Security and data concerns: It is daunting to salvage each asset from phishing attacks, data breaches and other potential cyber threats. If the network is vulnerable to extended connectivity, you might be threatening your facility as a whole. |
Enhanced employee and user experience: Smart places imbibing IoT technology have an optimal approach to employee and user well-being and comfort. IoT sensors aid in improving workplace comfort and safety and also ascertain job satisfaction and employee retention. |
Initial cost of investment: Businesses may incur upfront costs when implementing or integrating with an IoT system. It is advised to take into account and enquire thorough on any hidden fees and charges before onboarding a workplace IoT solution. |
| Cost saving opportunities: Businesses can track resources and find opportunities to save more time and money with IoT solutions. With better resource utilization, allocation and maintenance strategies, companies can ensure maximum energy efficiency, thus resulting in cost reductions. |
Challenges with integration and protocols: Not all IoT assets are capable of handling multi-protocol integrations and updates.The interoperability may be a threat for businesses looking to integrate different protocols or standards. Furthermore, these integrations may require the help of experienced professionals or skilled labors. |
Data insights and decision-making: Every industry can beacon IoT products with open arms. Its ability to comprehend and compute data to usable insights proceeds any other. It also plays a crucial role in improving the overall working structure of the facility with its informed decision-making capability. |
Privacy issues and concerns: IoT assets are constantly collecting data. They also gather and process extensive employee data that may raise privacy concerns. The amount of data collected and retained in the cloud or IoT device in the smart workplace is required to follow rigid data protection measures. |
| Scalable and advanced technology: IoT solutions can be scaled and tailored as per the requirement of any industry and facility. It imbibes the best of technology like digital twins, AI, machine learning etc., turning the facility into a more responsive solution. |
Reliability and downtime due to internet connectivity: There is a possibility of network or power failure in a facility. Due to the dependency of IoT devices on internet connectivity, any malfunction or power failure can lead to overall disruption in your modern office workspace. |
IoT's integration is a boon to modern office workspaces. Workplace IoT offers immense potential for businesses to optimize and transform contemporary workspaces into smarter work environments.
I hope the blog section has given you enough insights into the prominent use case of workplace IoT systems.
IoT development is crucial for businesses to escalate and climb the business ladder. The pointers in the cons section do show the disadvantages of IoT in the workplace but, we are all aware that they can be overcome and worked on. The advantages always override the disadvantages.
Let us unlock the potential of our workspaces with custom-made IoT solutions!
