2019 has just started and for the facility management industry, this is going to be a very exciting year. It would be safe to say that globally this will be the year of IoT and new devices which would make things way more efficient for facilities management companies. Not to mention it will also help them swell up their wallets a little bit.
The ripple effect of IoT technology as a source of real-time data for facilities management will be significant in 2019. For example, adjacent industries such as supply chain management will be impacted by IoT devices as predictive and preventative maintenance becomes a standard feature of any operations-critical asset.
- On asset analytics
In the near future, say by 2020 35% of operation critical assets will be controlled by computers. Almost all the heating,cooling and lighting control will be depended upon cloud infrastructure for their upkeep and functioning. All these assets will also provide the facility management companies with real-time data which would enable managers to plan their things accordingly. This data in technical terms is called asset generated data. So what it means in simpler terms is that no manpower would be invested in actually going down to check the assets for themselves. The managers would know what needs to be repaired or replaced and when.
The BMS phenomenon will triumph, by 2020 almost no professional facility management company will be able to do without a building management system. BMS will be the benchmark software platform that every facility manager would have to be comfortable with. The entire spectrum of properties that a facility management company manages will all be centrally controlled by BMS. This would take the efficiency of an IFM and housekeeping services company to the next level. They would know every square inch of their property without investing anything extra on manpower.
3. Field Services Shift:
In late 2019, augmented reality (AR) and mobile devices (tablets, smartphones) will drive a shift to the ‘gig’ economy in the Field Service industry with local ‘for hire’ experts replacing 10% of dedicated field services engineers. This will quickly rise and double to 20% by 2020, as more real-time analytics prescribe step-by-step repairs. During this time, voice-activated or ‘bot’ technology will begin the guided repair process for the service engineer.
Critical to this prediction will be the success of independent and external software service platform companies who will coordinate, manage and measure the service from end-to-end for the customer. (source: service channel)
4. The software platforms
Along with the facility management companies, the provider of software for this sector is bound to grow. Yes, their valuation will definitely increase by manifolds. It’s not just about the one-time software sale and installation but also about managing the data centers. Facility management companies are not IT pros and would need external help for managing data operations. Hence this is one arena which is bound to flourish.
5.Digital Asset Manufacturing
In 2019, manufacturers of high-value assets or equipment will begin to create and share digital representations of their products. These ‘digital twins’ will mimic in great detail the physical representation of the asset. Tying the digital twin to the real, smart and connected IoT-based physical asset will set the stage of new service repair innovation. However, because this approach will initially be used on the most valuable assets, investments in skills training and augmented reality (AR) equipment will limit it to the top 5% of all repairs.
This is one trend which will surface this year. However, it would need a great deal of time to become mainstream yet.