The major constraint for real estate owners today is to manage their construction site more effectively by reducing the wastage of construction materials, increase productivity and minimise unwanted costs.

With engineering and construction companies in India moving into a more competitive, technology-driven landscape, Internet of Things (IoT) – an ecosystem of connected physical objects that are accessible through the internet – could be a potential solution.

The data collection in Internet of Things is hugely empowering. Specifically, the ‘things’ in IoT refer to objects that have been assigned an IP address and have the ability to collect and transfer data over a network without manual assistance or intervention.

Monitoring and guiding work crew activity

IoT can provide new ways to ensure time and resources are allocated to their maximum potential:

Devices like dump trucks, cranes and other construction equipment can be tracked to coordinate complex systems of construction and ensure timely delivery.
Sensors can be mounted on concrete equipment to monitor their usage, idle time and paths of operation to help choose the best timelines.
Safety measures
Safety and security are major concerns on construction sites, which have an annual 10 per cent accident rate[1]. IoT can alert heavy equipment drivers of the presence of any danger and address it.

Inventory management

IoT can help in maintaining stock of construction equipment and building materials, keep track of their supply details and also take care of their future requirements on the sites. Construction materials usage analysis can help control wastage and optimise the cost.

The benefits of IoT for real estate owners

Heavy construction equipment is being fitted with sensors, which can be remotely monitored for potential maintenance issues like temperature fluctuations and excessive vibrations, etc.

Performing predictive maintenance in this way can save time and money, as well as prevent unnecessary delays in construction projects. Using telematics data and predictive analytical engines, the risk scenarios can be forecasted. This helps real estate owners and managers save money, invest more wisely and even monetise portfolios of assets in new ways.

Larsen & Toubro, a leading construction and engineering company who are also leaders in usage of sensor integration and predictive analytics, anticipates the use of an intelligent building energy management system (i-BEMS) platform, that will save up to 40 per cent of energy costs and enable up to 15 per cent of operational savings in their projects in India.

Building Information Model (BIM) integrated with IoT Technology for decision making, typically used for constructing and managing a building project, will become commonplace soon.

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