Touchless technology adoption is steadily rising in commercial real estate.
According to market research, the touchless technology market is predicted to nearly triple in value over the next four years, going from $13.6 billion in 2021 to a projected $37.6 billion in 2026. And as technologies enabling contactless interactions continue to advance and become progressively cheaper and more commonplace, those numbers are likely to continue to skyrocket.
As you prepare for the future of contactless technologies in commercial real estate, keep an eye out for even more cutting-edge touchless innovations, including:
- Cobots: Collaborative robots, or “cobots”, have the ability to perform repetitive tasks ordinarily done by humans, and, unlike standard industrial robots, to operate safely alongside humans in the workplace. This allows for greater precision, productivity, flexibility, and worker safety.
- Eye tracking devices: First developed by psychologists, eye tracking tech applications have started moving into the commercial space. Marketers use eye tracking devices to collect data on how people interact with visual cues, and these devices are also useful in providing accessible options to those with disabilities.
- Mind-controlled devices: It’s a bit creepy, but it’s coming: Brain-computer interfaces have become a reality, allowing you to control devices and transmit data using only the electrical signals created by your brainwaves. Current business applications include employee wellness tracking and enhanced entertainment experiences.
How to implement touchless technology in your CRE spaces
When considering implementing touch-free technology, it can be easy to get excited about things like biometric access and virtual assistants while overlooking the less intriguing paper towel dispensers and automatic toilets. But before you leap into the future, consider the following:
- Which stakeholders should be part of the decision-making process?
Consider owners, investors, long-term tenants, building management, and others who might have insights into the kinds of touchless solutions that will streamline processes and attract and retain good tenants.
- Which devices will give you the greatest ROI?
Doing a simple cost-benefit analysis will help you know which touchless technology devices will give you the most bang for your buck and make implementation more budget-friendly. Consider the ROI of not only those measures that save energy and reduce waste, but also those that give valuable feedback about tenant behavior and space usage.
- Which touchless technology applications will do the most good for the most people?
This is where it’s a good idea to think basic: What are your tenants’ biggest pain points, and how can contactless technologies solve them? There’s no sense in investing in retina scanners for a handful of C-suite executives when everyone in the building could benefit from a more streamlined, touch-free access control system, or a cloud based visitor management system.
As you gradually begin to implement more touchless technology into your properties, your spaces will feel fresher and more modern, and tenants will notice the difference. VTS Activate is a tenant experience solution that supports a modern tenant experience today, while also preparing your business for the digital transformation the industry will continue to go through. Visit VTS.com to learn more about how to implement simple tech upgrades for a more streamlined workplace experience for you and your tenants, now and into the future.
