JULY 20236 Copyright © 2023 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Editorial StaffDavid VincentFred SmithKevin DavisFredrick GallowayJames FerrerRose D. WilsonManaging EditorHayden Carr*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffVisualizersAsher BlakeEmail:sales@realestatebusinessreview.comeditor@realestatebusinessreview.commarketing@realestatebusinessreview.com July - 01 - 2023, Vol 04 Issue 05 (ISSN 2831-8447) Published by ValleyMedia, Inc.To subscribe to Real Estate Business ReviewVisit https: www.realestatebusinessreview.com EDITORIALThe construction and maintenance industry constantly evolves, so implementing the necessary changes is crucial. One of the significant changes is the adoption of smart buildings with sophisticated control systems for ventilation, air conditioning, heating, lighting, and other automated systems, including the Internet of Things (IoT) and Artificial Intelligence (AI). This is done using sensors, actuators, and microchips. A new generation of building management services has been developed due to the widespread use of these technologies designed to improve energy efficiency, reduce repair and operational costs, and enhance the overall building experience. Tenant well-being will be tracked and streamlined, and their health and safety will be improved using tenant experience apps and IoT data-driven insights. One of the primary cost-saving techniques will be implementing a real-time energy efficiency monitoring system and reducing over-maintenance asset tracking and security management are among the features that help these buildings gain traction in the market. In addition, the rise of smart city projects and the emergence of 5G technology are expected to present lucrative opportunities for the smart building industry.As per the latest report published by MarketsandMarkets, Germany is the region where the leading facility management service providers are located. Globally, it accounted for nearly 12.6% of total revenue generated, and the US follows Germany in demand and adoption by contributing 11.1% of global income to facility management services. As an upcoming lucrative region for global facility maintenance, Asia Pacific is projected to grow at an impressive CAGR of 21% during the forecast period. This edition of Real Estate Business Review delivers a bird's eye view of the recent developments in the building maintenance services arena and insights into how organizations align with these trends and adopt new ways to transform future services. We have curated thought leadership articles from industry experts, including Matthew Sullivan, president of Coastal Building Maintenance (CBM), which appears in this edition. We also took a deep dive into the market trends to narrow down the list of companies delivering robust building maintenance services. Equipped with innovative technological capabilities, companies like Elite Facility Services help transform businesses at the cloverleaf of various disruptive technologies. We hope this edition of Real Estate Business Review on building maintenance services helps you build the partnership you and your organization need to foster an environment driven by efficient technology. Let us know your thoughts! The New Era of Smart Building MaintenanceHayden Carr Managing Editoreditor@realestatebusinessreview.com
< Page 5 | Page 7 >