How IoT is Positively Affecting the Real Estate Market!

Have you heard that IoT is the next best thing in the construction industry? How? You know how many construction companies struggle to manage large fleets of construction equipment. Not only that, but the many intricacies that these vehicles and heavy machinery bring, from monitoring them in real-time has become a daunting task. Such as keeping up with the time-consuming recordkeeping that comes with using paper records instead of digital tools. The growing segment of the Internet of Things (IoT) is providing these firms with a much-needed solution for keeping their equipment well-equipped for job sites across their territories.

Construction isn’t exactly on the cutting edge of technology, but that’s changing and thanks to IoT. Construction equipment and vehicles typically aren’t in compliance with the latest technology because construction work is generally manual labour and modifications made to equipment can be time-consuming, expensive and potentially dangerous.

Industry experts estimate that managing a fleet can cost anywhere from a few thousand dollars per month to more than $1 million. Before the widespread availability of affordable connectivity, this meant adding bar code scanners, radios, voice communications and spending thousands on training workers on how to operate all these new tools, but now everything is being digitised so that workers and contractors can focus on more important tasks and get things done quickly.

The Internet of Things or IoT is the new tech on the market but it is not very new. The concept behind IoT has been around for years, but only now it is becoming commercially viable. And much of that viability can be attributed to the various industries we see at the forefront. From monitoring using drones to 3D modeling, construction businesses have now started to embrace remote monitoring in ways that many other industries have not yet considered.

Drone Survey and 3D Modeling

The drone surveys can be used to get a full picture of your current equipment and its condition, helping you keep track of everything from cranes to hardhats. Using drone 3D modeling, you can see when construction equipment needs repair or replacement, putting your mind at ease about whether your site is fully equipped to meet current and future demand. Here at Ark Real Estate & Infra, we specialize using various technology and tools which supports our people and project to get best outcome in understanding 3d modeling.

Reducing the Dependence on Manual Recordkeeping

With IoT for construction equipment management, there’s a lot less need for manual recordkeeping and data entry. That means you no longer have to worry about errors due to human error or illegible handwriting. Instead, you can use automatic data collection to keep track of all that heavy equipment in real-time—and use the information collected by IoT sensors in a way that’s actionable.

Keeping Equipment in Safe, Highly Functional Condition

With so much heavy machinery out there, it’s essential to keep all of it in safe, highly functional condition—especially when it involves human lives. IoT for construction equipment management and maintenance can help you do just that by keeping track of maintenance and service intervals, as well as tracking the location of each piece of equipment at any given time.
Spotlighting Idle Time Totals

Many IoT solutions in the heavy machinery industry today focus on idle time—or the amount of time a piece of equipment is left on but not being used. The ability to track this information gives managers insight into how much fuel is wasted due to inefficient operation practices. It also shows them when employees are not on the job-site working and can better manage their crews.

Reducing Carbon Footprint

IoT technology uses sensors and other data collection tools to provide data on each piece of equipment that a company owns. This data can then be compiled or analyzed to help companies make decisions on how they want to run their businesses. This has become a popular choice for many businesses in this industry because it is effective at helping them reduce their carbon footprint while also saving money.

It’s been a pretty busy year for us here at Ark Real Estate & Infra, but we’re excited to see our future up ahead. It promises to be a bright future for the real estate industry as a whole. And it also seems like 2022 will be the start of a new wave of innovation for the real estate industry. It’s certainly not too late, and there are plenty of ways to get involved with IoT technology out there. To know more about Ark Real Estate & Infra click here