What is Centralization of IoT Technology? 

Centralization of IoT technology refers to the consolidation of data and communication into a single, centralized system. This can be achieved by a central dashboard that connects to a hub or gateway device, which serves as the primary point of communication and data collection for all connected devices. By centralizing IoT systems, asset managers can gain a more comprehensive understanding of their operations, enabling them to make data-driven decisions and improve efficiency. 

Some of the benefits of the centralization of IoT technology include: 

• Efficient Management of Resources: Centralization allows for more efficient management of resources, such as energy and water conservation. For example, according to a study by the “Carbon Trust”, by centralizing the control of lighting and HVAC systems, property managers can reduce energy consumption by as much as 20%. 

• Reduced Maintenance: Centralization can improve the maintenance and repair of devices, as it allows for remote monitoring and diagnostics, reducing the need for on-site visits. This can lead to a 50% reduction in maintenance costs according to a study by the Carbon Trust. 
• Efficient Use of Data: Centralization also allows for more efficient use of data, as all data is collected and analyzed in one place. This can help property managers identify patterns and trends and make more informed decisions about their operations. 
• Improved Security: Centralization also improves security as it allows for better monitoring and control of connected devices. By having all data and communication in one place, it is easier to identify and address any security breaches or vulnerabilities. 
• Cost Savings: Improved resource management and reduced maintenance offers significant cost savings for property and facility managers. Being integrated with existing systems will reduce the need for costly upgrades or replacements of those systems. Predicting when maintenance is needed will also reduce downtime and increase the lifespan of equipment.

• Better Tenant Experience: With centralized IoT systems, property managers can provide tenants with a range of smart features, such as remote lighting and temperature control, which can enhance the overall living experience and can attract and retain tenants, increasing revenue generation.