The use of property technology will continue to expand across all real estate sectors. \u201cProperty managers and asset managers are leaning into technical solutions for productivity enhancements and operational efficiency. They are digitizing as much information as possible, so that analytics can be applied and data shared throughout the organization,\u201d says<\/p>\n
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Emerging Trends in Real Estate 2020<\/em>, the 41st<\/sup> annual forecast report compiled by PwC and the Urban Land Institute. \u201cUsing analytics to enhance customer experiences will define winners and losers in the coming years.\u201d<\/p>\n Much of the multibillion-dollar global investment in proptech \u201crevolves around smart-home and smart-building applications aimed at energy efficiency\u201d and enhances coworking and co-living concepts, the report says. Sensors activated by motion, voice, temperature or weight \u201care now part of the landscape, and will become more ubiquitous over time.\u201d<\/p>\n <\/p>\n . . . and so does ESG<\/strong><\/p>\n Emerging Trends<\/em> also addresses the growing importance of environmental, social and governance principles to real estate customers, employees, shareholders and communities. \u201cSustainability evaluation is becoming a checklist item for institutional investors domestically and worldwide\u201d in real estate and other business sectors,\u201d the report says. And with 55% of millennials, 25% of Generation Xers and 11% of baby boomers saying they factor ESG policies and performance into their investment decisions, \u201cthe power of ESG to influence capital deployment will be rising over time.\u201d<\/p>\n \u201cESG attracts a more diverse set of investors, aids in recruiting talent and helps generate community support for proposed projects,\u201d notes an unidentified REIT executive and Emerging Trends<\/em> contributor. Another REIT exec adds, \u201cAs ESG data is becoming more widely available, we\u2019re seeing clearer ties between ESG and overall performance.\u201d<\/p>\n Along with comprising a standard for due diligence and risk assessment, ESG will also influence the work of architects and designers.<\/p>\n <\/p>\n Retail buzz<\/strong><\/p>\n Retailers will increase their reliance on technology \u201cto anticipate consumer needs, fine-tune selections, and smooth pain points in the purchase process, thereby creating differentiating guest experiences,\u201d according to Emerging Trends<\/em>. A shopping center investment adviser concurs: \u201cTechnology will be a differentiator that further reshapes retail in the future, especially in how \u2018big data\u2019 will help retailers understand their customers and their behavior.\u201d<\/p>\n <\/p>\n IoT becomes a bigger thing<\/strong><\/p>\n Nearly 31 billion devices around the world will be connected with the Internet of Things this year, up from 15.41 billion in 2015, according to Statistica. Smart meters and locks that are connected \u201care able to share data among each other, providing benefits such as better quality and life and greater insight into business,\u201d says the market and consumer data provider.<\/p>\n Another 12 billion or so devices will be connected by 2022. As The Balance Sheet<\/em> noted in February 2019, \u201cAt this rate, the Internet of Things may soon be as indispensable as the internet itself.\u201d<\/p>\n Data science, machine learning and artificial intelligence website Toward Data Science proposes three key IoT trends for 2020: soaring popularity of smart home devices, the application of predictive maintenance to homes, and enhanced security capabilities to prevent data theft and attacks.<\/p>\n <\/p>\n E=MSW<\/strong><\/p>\n The U.S. Environmental Protection Agency reports that paper products, yard trimmings, plastic products and other municipal solid waste (MSW)\u2014also called \u201ctrash\u201d\u2014totaled 267.8 million tons, or 4.51 pounds per person per day, in 2017. Some MSW ends up in landfills while other elements are recycled or composted.<\/p>\n And some of it is combusted with energy recovery. The world\u2019s largest waste-to-energy plant is expected to come online this year in Shenzhen, China. It will be capable of burning 5,000 tons of waste daily, one-third of which will be recycled into\u00a0renewable energy. The plant\u2019s roof will be covered by 44,000 square meters of photovoltaic panels for converting solar energy into direct current electricity. The\u00a0plant\u00a0is one of 300 that the Chinese government plans to build.<\/p>\n Sixty-eight U.S. power plants generated about 14 billion kWh of electricity from burning 29.5 million tons of combustible MSW in 2018, according to the U.S. Energy Information Administration.<\/p>\n <\/p>\n