May 16, 2020

Building professionals believe indoor mobile systems can increase property values

phone
smartphone
Technology
connectivity
Nell Walker
3 min
Building professionals believe indoor mobile systems can increase properly values
There are aroundtwo billion smartphone users globally, with an estimated 80 percent of mobile traffic originating or terminating within a building.

Wit...

There are around two billion smartphone users globally, with an estimated 80 percent of mobile traffic originating or terminating within a building. 

With that in mind, it is critical that residents, visitors and workers have access to strong and reliable cellular coverage in order to properly make use of their mobile devices. Despite this, only an estimated two percent of commercial buildings have dedicated technology to ensure strong and reliable mobile coverage and capacity indoors. 

The second instalment of a new global study, commissioned by global network infrastructure leader CommScope and carried out by Coleman Parkes, surveyed the professionals who design and manage such buildings – including building managers, facilities managers, real estate managers and architects - to explore this untapped business opportunity and consumer need.

Connectivity benefits

Survey respondents asserted that indoor wireless coverage could increase a property’s value by 28% on average, meaning that a $2.5 million office building could be worth $700,000 more with a dedicated indoor cellular system.

Respondents also cited benefits for the enterprise tenant, including an increase in workforce productivity (77%), supporting the recruitment of more talented individuals (46%) and even attracting more visitors (39%). Two-thirds of respondents also rated indoor wireless connectivity as ‘essential’ for employees. 

Challenges to overcome

Providing mobile coverage to users within larger and more complex buildings can require investment in dedicated technology. However, there are clearly concerns around who is responsible for the provision and management of this infrastructure.

When asked who is responsible for providing cellular coverage in a building:

  • Only one in five (22%) thought building managers should ensure mobile coverage
  • Over a third (35%) pointed to network operators
  • A quarter (26%) placed emphasis on IT managers

When asked what challenges prevented those from providing dedicated wireless networks indoors, they identified these three top roadblocks:

  • The cost of the network (35%)
  • The complexity of the technology (19%)
  • A lack of skilled workers to manage it (11%)

Dr. Ispran Kandasamy, Global Leader, Building Solutions, CommScope, believes building professionals should take greater responsibility.

“People are obsessed with their mobile phones and see indoor wireless coverage as important as having access to water and electricity,” said Kandasamy. “The time has come for building professionals to step forward and take ownership for connecting their tenants to mobile networks. 

“While there are clearly concerns around the cost and complexity of the technology, building owners must acknowledge that ignoring this issue could result in more costly work in the future. Engaging with architects, facilities managers and enterprises at an early stage will ultimately save money – as well as providing an enhanced user experience.

“Only by taking the lead will building owners be able to provide much needed connectivity in their properties.”

This is the second instalment of CommScope’s research into the building industry’s attitudes towards the provision of indoor mobile coverage. CommScope will launch a comprehensive report, with an analysis of the findings and recommendations to the industry, on the 7th of March 2016. 

 

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Jun 14, 2021

XYZ Reality receives £20m to develop Assisted Reality

AugmentedReality
construction
DigitalTransformation
Technology
Dominic Ellis
3 min
XYZ Reality to use funding led by Octopus Ventures to springboard into USA and automatically report issues through Assisted Reality

XYZ Reality has announced a £20m investment round led by Octopus Ventures.

Founded in 2017, XYZ Reality aims to "revolutionise" the construction sector with its Engineering-Grade Augmented Reality (AR) solution, Holosite.

Designed to enable an on time and on budget delivery of construction projects, by eliminating building errors, HoloSite has been available to select customers through an early access programme and has already been used on projects totalling a value of over £1.5bn in the last year. 

With approximately 98% of construction megaprojects facing cost overruns or delays and 7-11% of project costs being spent on correcting errors, XYZ Reality’s purpose-built integrated AR solution directly addresses these issues.

With its safety certified AR hardhat, cloud platform and in-built proprietary software, Holosite accurately positions high fidelity 3D design models on construction sites, enabling teams to build it right, first time. The technology system has been used on complex construction projects including data centres, pharmaceutical facilities and airports.     

This funding will be used to accelerate the company’s ambition of transforming projects by preparing for HoloSite’s commercial launch in the USA and continuing investment in strengthening research and development. The company is also growing its London team to include key hires across technology, manufacturing, sales and marketing.

David Mitchell, Founder and CEO of XYZ Reality, said developing its engineering-Grade AR solution helping construction teams identify errors in real-time is just the start.

"The next phase is Assisted Reality, where our spatial computing technology will have the intelligence to automatically detect and report issues in the field. And ultimately, the goal is builders building from holograms. Our vision of developing world changing products aligns with Octopus Ventures’ mission of investing in companies that are powering the next industrial revolution. We look forward to building history.”

The latest round of funding is led by Octopus Ventures, one of the largest and most active venture investors in Europe, known for its commitment of investing in companies and founders that are changing the world. Octopus Ventures has a strong track record, spanning investment in health, fintech, consumer, B2B software, and deep tech. This includes WaveOptics, one of Octopus Ventures’ early investments in Augmented Reality, which was recently acquired by Snap Inc. 

Rebecca Hunt, early-stage investor at Octopus Ventures, said: "We’ve always invested in entrepreneurs leading industry change and XYZ is doing just that. It's solving a massive problem that costs the construction industry billions every year, using its Engineering-Grade Augmented Reality solution to spearhead a shift in the sector’s approach. The founding team of David, Umar and Murray have deep domain and technical expertise, which we believe makes XYZ uniquely placed to drive this transformation.”

XYZ Reality also announces a new partnership with Mace, for the construction of a hyper-scale data centre in Europe. With speed to market being particularly essential for mission critical builds, HoloSite’s AR technology will have a significant role in supporting an accurate and time effective build for Mace, which last week appointed Jon McElroy its new Managing Director for International Technology.  

Mace Technical Director, Stephen Henley, said: “Mace has built a reputation of redefining the boundaries of ambition, always bringing efficiency, innovation and responsibility to our projects. With the implementation of XYZ’s groundbreaking AR system, we continue to be committed to delivering projects faster, safer and better than ever before.” 

Five years ago, Heather Bellini of Goldman Sachs Research expected virtual and augmented reality to become an $80 billion market by 2025.

But according to new research by global tech market advisory firm ABI Research, nearly 28 million augmented and mixed reality smart glasses will ship in 2026, while the total global AR/MR market will surpass $175 billion in the same year.

"Major tech players across hardware, software, and services look familiar in the consumer space, contributing to strong and consistent overall growth," says Eric Abbruzzese, Research Director for ABI Research. "Those big tech names, with active investment and product ranging from already available, to announced, to all-but-announced, are creating a consumer AR market that will be dynamic and welcoming rather than struggling and immature."

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