Corporates experimenting with emerging technologies and the availability of capital for PropTech will transform the real estate industry and the way we work. Corporates are testing emerging technologies, such as drones, artificial intelligence, blockchain and the Internet of Things, to directly connect behaviour to technology. This is translating into a rising demand for technology-enabled buildings able to adapt to the needs of occupiers. Modern co-working space providers use technology (partners) to provide occupiers with full-service co-working spaces with a focus on building communities, for both freelancers and corporates.
Investors will have to integrate more technology in their buildings and services. For example, to generate real-time asset performance data and create so-called digital twins of assets to manage assets more effectively. All of this will the aim of improving indoor living quality, boosting interaction with users and enhancing their customer experience, while reducing energy and property management costs. On the other hand, the asset and tenant related data generated will be essential to making buildings and business processes more autonomous in the future.
There are numerous other technologies that could affect the office market to a greater or lesser extent. However, some could have a greater impact in the future than we now think. For the office sector, it is especially important to monitor the development of digital transactions and autonomous vehicles. The first could help to develop efficient office as a service such as co-working, all-in rent and pay per use concepts. The second could affect the locations where people want to work.