The PropTechBuzz podcast brings unique perspectives from PropTech founders, CEOs, investors, and innovators worldwide. Here, we learn how they build and grow successful companies that utilize cutting-edge technologies to revolutionize the real estate and construction industry. To view the podcast, click here.
• In this podcast, Alaviya Rizvi, EIR, PropTechBuzz discusses the future of facility management in India with Mr. Sathish Alahari, Head of Specialist Group at Embassy Services.
• The global market for technology-powered facility management will be worth 1,315.7 billion in 2024. Growing at a CAGR of 8.2% its value is expected to reach $ 2,284 billion by 2032.
• Facility management is used to align a built environment to the needs and expectations of the client organization. Its main function is to integrate people, systems, processes, and data with the built space to create an efficient and stress-free environment for its occupants.
• IoT and AI-powered facility management allow companies to provide a vibrant and efficient workspace to their employees. Apart from boosting productivity, facility management also leads to significant energy savings and promotes sustainability.
In this latest podcast, Alaviya Rizvi, EIR, PropTechBuzz discusses the future of facility management in India with Mr. Sathish Alahari, Head of the Specialist Group at Embassy Services. A dynamic technology leader with over 32 years of experience in facility management, Sathish Alahari currently leads a group of SMEs (subject matter experts) assisting pan-India clients with new technology and automation initiatives at Embassy Services (ESPL). Embassy Services (ESPL), a part of the Embassy Group, one of the leading real estate companies in India, currently provides integrated facility management to IT Parks, schools, retail stores, factory units, and warehouses spread across 150 million square feet in 12 states of India. The facility management firm's primary function is to integrate people, systems, processes, and data with the built space to create an efficient and stress-free environment for its occupants. The global market for technology-powered facility management is worth 1,315.7 billion in 2024 and is expected to grow at a CAGR of 8.2%. At this rate, its value will reach $ 2,284 billion by 2032.
Mr. Sathish Alahari explains that the main objective of facility management is to align a built environment to the needs and expectations of the client organization. For example, while managing the Embassy Manyata Tech Park, one of the largest IT parks in the country, ESPL caters to the unique needs of multiple tech companies across its 24 towers. Working round-the-clock for global clients, these IT companies need uninterrupted power supply, network services, space management, and security as per their standard operating requirements.
Facility management firms like ESPL ensure these services under two broad classifications: soft and tech services. Soft services include regular office maintenance like cleaning and housekeeping, managing cafeterias, security, etc.; and technical support includes networks, electrical, plumbing, HVAC (Heating, Ventilation, and Air Conditioning), etc.
Facility management allows companies to provide a vibrant and efficient workspace to their employees. Apart from boosting productivity, facility management also leads to significant energy savings and promotes sustainability. According to Sathish Alahari, the impacts of facility management are felt not only in commercial properties but even in the residential sector. The field is perpetually growing, along with the changing needs of people.
Automation and advancements in IoT (Internet of Things) and AI (Artificial intelligence) have significantly impacted facility management by improving efficiency and reducing costs. Smart building management has enhanced the overall management, monitoring, and control of the facilities. The introduction of IoT-powered Building Management Systems (BMS) has transformed the management of technical systems like air conditioning, generators, lifts, and lighting within a facility.
IoT sensors integrated with the BMS constantly monitor the entire facility and provide real-time feedback through data analytics. Advanced algorithms built into IoT-powered BMS have finally made predictive maintenance of facilities a reality. AI systems that identify the slightest abnormalities and alert the concerned manager are successful in preventing major failures. These systems reduce downtime and mitigate risks and hazards.
Embassy Services is at the forefront of IoT-based technologies in facility management. The Specialist Group at ESPL conducts a comprehensive assessment of the building and proposes an IoT sensor-based BMS model customized to the unique needs of each client. The company has developed an app called Embassy 360 that users can download and use to request various services from facility managers digitally. All backend facility management functions are conducted using the E-Spectrum platform.
These integrated systems have transformed the ways facilities were managed traditionally. Employees can raise a maintenance request by simply scanning a QR code. All inventories are today managed digitally. The reception desk and visitor management are now secured through biometric access controls. AI-powered cameras are instrumental in maintaining a high degree of security in IT premises with sensitive data.
In the age of multinational corporations, hybrid work models, and co-working arrangements, space management has emerged as a crucial aspect of real estate. AI-powered space management can be used to digitally book and allot spaces in advance. Energy consumption levels of every part of the building are now visualized using graphs, giving facility managers vital insights to save energy. IoT has a huge role in promoting sustainable practices within organizations. Robotic cleaning systems, automated waste management, and smart waste bins help in efficient disposal and recycling. IoT sensors integrated with the BMS can be used to monitor air and water quality, thus establishing a safe and healthy ecosystem for employees.
The Embassy E-Spectrum platform integrates these modes and functionalities in a single platform that can be accessed and monitored by facility managers and clients. The real-time data analyzed by AI can significantly enhance decision-making processes.
According to Sathish Alahari, one of the major developments in facility management is ‘digital twins’. A digital twin is a virtual model or a replica of a particular building. Before making any changes in the physical building, managers can simply run the desired function on the digital model and check its impact. The digital twin model enables proactive management of real estate and marks a new era in the data-driven management of spaces and resources.
Even though the initial costs involved in setting up these cutting-edge systems are high, they can lead to significant savings in the long term. Early adoption of these technologies will also help real estate professionals receive the training needed to optimize efficiency and productivity in an integrated facility.
According to Mr. Sathish Alahari, Head of the Specialist Group at Embassy Services, there is a high demand for integrated facility management of IT Parks, schools, retail stores, factory units, and residential properties. AI and IoT-powered facility management has unleashed a new phase of growth and productivity for companies all over the world. AI and IoT-driven Building Management Systems (BMS) leverage the power of automation and data analytics to boost operational efficiency, promote safety and well-being, and build a sustainable organization.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com
By Proptechbuzz
By Ravi Kumar