MAPSTED BLOG

Facility Management Technology Trends in 2024

January 05, 2024
Categories:

Corporate Offices

facility management trends

Innovations in indoor navigation and smart facility management technology are paving the way for new experiences in smart location marketing. According to the IDC, there will be more than 55.7 billion connected IoT devices worldwide by 2025. The market for indoor positioning and indoor navigation is estimated at $43.51 billion globally. In such a huge market, there is a tremendous need for new technologies in facility management and innovative wayfinding solutions.

Other breakthrough innovations include hardware-free location solutions. The impossible becomes a reality using a unique algorithm sourcing more than 50 data points, ensuring accuracy and scalability. Technologies redefining the customer experience, prove location marketing and indoor navigation are trends for 2024. Here’s a bit about these innovations, and more.

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What’s New for Indoor Navigation and Facility Management?

Trends for the future on smart facility management forecast a shiny horizon. There is no doubt the future of facility management and technology go hand-in-hand. Having access to accurate property data on maintenance, risk management, customer behaviours and financial control is crucial. And now a smartphone can do it all without the need for additional external hardware. Also, enterprise functionality is capable of supporting the most sophisticated use cases.

Mapsted, a world-leading indoor positioning company, with clients all around the world, developed a unique algorithm drawing on more than 50 data points to ensure accuracy and scalability.

This revolutionary algorithm combines multiple data inputs, allowing users to navigate inside buildings and around properties. In addition, Mapsted has access to personalized information and updates in real-time with real-time notifications. With the help of AI-based technology, you can better understand the deepest analytics about customers’ behaviours and preferences.

Artificial Intelligence in Building Management 

AI software also offer benefits in facility and real estate management technologies. This saves time, which is a precious asset in modern society. AI in facility management can help automatically monitor data, auto-compare and prevent human mistakes. Data provides an overall estimate of a user’s location, which dynamically adjusts over time as multiple measurements are collected. Aided by AI, transportation companies, supermarkets, higher education and many other segments can add value to services and streamline processes. 

Facility Management Technology Software

facility management technology software

New facility management technology software trends come with a tidal wave of innovations in 2024. One of those innovative ideas that stands out is the ground-breaking new algorithm engineered by Mapsted including features such as: 

  • Combining crowdsourced data 
  • Bluetooth IoT sensors 
  • Magnetometers 
  • Digital landmarks and more 

This algorithm can respond effectively to the changing needs of businesses and properties.  Design solutions will ensure visitors have the best experiences possible when interacting with properties. Mapsted offers a location marketing platform to help clients find the right audience for their services and improve customer engagement with advanced market segmentation, customer engagement and targeted notification tools.  

Location Marketing and New Technology in Facility Management

location marketing and new technology in facility management  

Trends and software platforms have revolutionized facility management and optimization. Smart buildings are now equipped with self-learning devices connected to the Internet.  These automatically improve asset performance and collect data to prevent and fix problems before they occur. And with data collected, you can control the entire environment from a smart device. This allows you to know where your customers are, receive data about their behaviours and preferences and improve customer engagement. 

Essentially, you are better able to understand the needs of your clients and be proactive in providing the right responses.  

Smart Technology in Facility Management

smart technology in facilities management  

Smart technology is here to stay. Self-learning algorithms and processes and the Internet of Things provide facility managers with an extensive range of tools and solutions to make property and building management easier, faster and optimized. Among facility management software trends for 2024, Mapsted stands out with its building calibration platform. This advanced smartphone application equips your property with the most accurate indoor navigation technology available. You can accomplish this by uploading a map or floor plan of your building and completing the process using an Android device.

There are also a series of benefits in facility and real estate management technologies, predictive maintenance, indoor navigation for tenants and privacy ensure tenants will be invisible to one another. All that gives you a better idea of the health of management systems which makes intervening when necessary easier and more cost-effective. 

Conclusion

After learning about some facility management technology trends, new products offered, as well as the variety of use cases in the technology can be implemented, you can see it is a good time for action and proactiveness in utilizing all the amazing benefits of innovation already available. By now you should have a crystalline understanding of how important and impacting technology is for the future of the corporate world and more specifically for facility management, indoor-positioning and navigation solutions.

2024 is the year when businesses and organizations worldwide will be empowered with robust and easy-to-use outdoor indoor navigation and enhanced enterprise functionality. This will allow harmonious and proficient management of key business processes, governance, customer relationship, and much more. Mapsted is playing a leading role in the dawning of this new era of smart location and personal indoor navigation by delivering simple but efficient solutions in complex environments. To that end, Mapsted is a one-stop-shop for all your facility management and indoor navigation needs. 

Imagination and inspiration are trending, and these new trends can offer insights and ideas to help you reach your goals and to keep pace with the best science and technology can offer to your personal and professional lives. 

If you found this blog helpful, please check out our blog on 10 Location Marketing Strategies to Promote Your Grocery Store in 2024 and Empowering Event Experiences Through Indoor Asset Tracking.

Frequently Asked Questions

Q: What’s new in smart building facility management?

A: Trends for 2024 present cutting-edge technology. Today, real estate service providers and facility managers can greatly benefit from technologies that connect and share their data over the Internet, simultaneously helping and receiving data.

Q: Why should you implement smart technology?

A: Implementing smart technology offers numerous advantages and can lead to significant improvements in various aspects of operations. Rationale for implementation includes increased efficiency, enhanced productivity, data-driven insights, improved customer experiences, cost savings, enhanced decision making, sustainability and environmental impact, competition advantages, remote management, innovation and future readiness and improved security. 

Q: Can facility managers or properties benefit from IoT?

A: IoT technology offers numerous benefits for facility managers and property owners, ranging from increased efficiency and cost savings to improved occupant experience and sustainability. By harnessing the power of IoT, businesses can transform their buildings into smart, data-driven spaces, leading to long-term success and a competitive advantage in the market.

Q:  Is overcoming hardware limitations possible?

A: It is! Mapsted created a self-learning algorithm capable of delivering the best experience in indoor navigation and facility management without the need for external hardware.

Q: What does the future of location and smart facility management look like?

A: Innovation and integration That’s the future and with what technology is already in use, possibilities moving forward are endless.

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