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November 30th, 2020

DATA Point:
26% of real estate executives say that COVID-19 has caused them to make new targeted digital investments, with a further 21% highlighting that it has caused them to accelerate their digitization of real estate and facilities processes.

, an independent Smart Building research firm, recently shared highlights of their   annual global survey, which was reported in a article. The survey includes feedback from 250 real estate occupiers in 13 geographies and 18 industries on their firms’ real estate strategic technology direction, budgets, and priorities.

Results show that COVID-19 has had a major effect on the speed with which physical spaces are headed towards digital transformation. Top reasons for this swift move to digital transformation are found in the new necessities identified in the survey:

1. Enabling a remote workforce is the most significant factor shaping real estate strategies at 96%
2. Social distancing and infection control follows at 90%
3. Energy cost-cutting 50%

The survey  also recognized that these top priorities can be helped with investments in digital technology. Of the real estate executives who responded, 26% said COVID-19 has spurred new targeted digital investments; 21% highlighted that COVID-19 caused them to accelerate the digitization of real estate and facilities processes.

Security and technology industry experts have recognized the need for and importance of digital transformation since well before COVID-19. Now, the people in charge of the security and technology investments for their businesses are realizing the difference the right technology can make in our new normal.

Read our report on digital transformation for commercial properties here.

Read our report on digital transformation for multifamily properties and the future of the smart home here.

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