Wilmington, Delaware, United States, Nov. 14, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The market for commercial building automation accounted for US$ 32.96 billion in 2020. TMR predicts the commercial building automation market is expected to reach US$ 76.49 billion by 2031. Through 2031, the market is expected to expand at a CAGR of 8.3%.
Businesses are more likely to invest in building automation systems as their awareness of the benefits grows. Building owners and managers are encouraged to participate in education and training programs to gain a deeper understanding of the advantages of automation.
The integration of building automation with advanced security systems enhances overall safety. Access control, surveillance, and emergency response systems can be integrated into the automation platform, providing a comprehensive approach to building security.
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Global Commercial Building Automation Market: Key Players
The top Commercial Building Automation vendors are focusing on making more affordable Commercial Building Automations. The leading players are also diversifying their product portfolios and acquiring other companies. Other key trends in the Commercial Building Automation market include
- ABB Ltd.
- Cisco Systems Inc.
- Honeywell International Inc.
- Hubbell Inc.
- Emerson Electric Co.
- Johnson Controls International plc
- Robert Bosch GmbH
- Schneider Electric SE
- United Technologies Corp.
- Siemens AG
Key Findings of Market Report
- The growing government initiative to promote green buildings is driving demand for commercial building automation.
- Smart city initiatives and technologies are expected to drive demand for commercial building automation systems.
- Using automation to control and monitor energy usage, buildings can be made more energy-efficient.
- Many building control systems, including heating and security, are becoming more sophisticated and often rely on cloud technologies to operate remotely.
- Artificial intelligence and machine learning help predict equipment issues and improve building performance.
- With features like smart lighting and personalized climate control, automating buildings makes them more user-friendly.
- The number of connected devices in buildings is increasing, which makes it essential to protect building systems from cyber threats.
Global Commercial Building Automation Market: Growth Drivers
The need for energy conservation and increased awareness of environmental issues have contributed to the focus on sustainable practices. Controlling lighting, HVAC, and other systems via building automation systems (BAS) optimize energy consumption.
By optimizing energy usage, preventing preventative maintenance, and enhancing overall efficiency, building automation systems help reduce operational costs. Businesses increasingly adopt these solutions to reduce utility costs and improve building operations.
Building automation systems have been adopted more commonly due to energy regulations and government initiatives encouraging sustainable practices. Organizations that implement energy-efficient technologies may be eligible for financial incentives and rebates.
Building automation solutions have become more sophisticated and interconnected with technological advancements, such as artificial intelligence (AI) and the Internet of Things (IoT). Data analytics, remote control, and real-time monitoring are all made possible by these technologies.
By integrating building automation systems, occupants may experience greater comfort and well-being. Increased productivity and employee satisfaction are attributed to these systems because they provide optimal lighting, temperature control, and air quality.
Buildings that are intelligent and integrate multiple systems are becoming popular. Several IoT devices are now included in building management ecosystems, including access control, security, and data collection.
With global events such as the COVID-19 pandemic, remote monitoring and control of building systems have become increasingly important. Automation is a way to improve the flexibility of building operations by allowing building managers to perform operational management and optimization from any location.
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Global Commercial Building Automation Market: Regional Landscape
Europe is expected to lead the commercial building automation market. Regulations in Europe mandate automation in large, non-residential buildings. Regulations of this kind also positively impact the market demand for these products. Security concerns also contribute to the growth of security systems as they become more prevalent in commercial buildings.
According to the Buildings Performance Institute Europe (BPIE), automation can significantly reduce energy costs in virtually any commercial building, regardless of energy prices, usage, and climate. By controlling access to certain areas and monitoring activity, building automation systems can enhance security in commercial buildings. By detecting fires and other emergencies, these systems can also enhance safety.
Key Developments
- In October 2023, 75F, a leading provider of smart building automation, launched Saffron AI, a building automation platform powered by artificial intelligence. Through Saffron AI, facilities professionals will be able to communicate directly with their buildings, helping them reach new levels of efficiency.
- In November 2023, with the growing demand for smarter, more sustainable, and more connected cities, Grundfos, a leading pump manufacturer and water technology company, unveiled its new NK and NKE products in Singapore. With enhanced monitoring capabilities, additional connectivity, and ease of use, energy efficiency is enhanced with NKE pumps.
Global Commercial Building Automation Market: Segmentation
- By Product Type
- Power Supply
- Room Automation
- I/O Module
- Actuators & Actuators Module
- Controllers
- HVAC Systems
- Security and Surveillance
- Illumination and Light Sensors
- Fire Protection Systems
- Energy Management Systems
- Others (Interfacing Components, Elevator and Escalator Management, etc.)
- By Solution Offering
- Lighting Control and Regulation
- Interfacing and Inter-working with Other Building Systems
- Blind and Shutter Control
- Temperature Control and Regulation
- Energy and Load Management
- Security and Fault Monitoring
- Visualization and Remote Control
- Monitoring, Reporting, Display
- By End-user
- Offices
- Retail
- Hospitality Sector
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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Transparency Market Research Inc. The commercial drones market is projected to reach US$ 11.30 billion by 2031. Market revenues are expected to rise at a CAGR of 12.5% from 2021 to 2031.
Electromagnetic interference resistance is now becoming increasingly important with commercial drone technology evolving at a significant pace. Small aerial vehicles are becoming prominent in military operations, making electromagnetic countermeasures a priority.
Depending on their features and capabilities, drones are used in a wide variety of industries. These industries include agriculture, military, construction, videography, mapping, public safety, and many others.
Innovators and start-ups offering commercial drone operations are expected to benefit from the implementation of drone-friendly regulations by governments around the world.
Drone manufacturers implement advanced autonomous flight capabilities which allow their operations to become simple and more efficient. Drones are being identified and tracked using remote identification systems in real-time to enhance safety and integrate better into existing airspace.
Global Commercial Drones Market: Key Players
Increasing geographical reach is a key strategy for companies to remain competitive and to serve a large customer base. The global market is becoming increasingly competitive as so many manufacturers are acquiring or collaborating with small companies. Some of the prominent players working in the market are
-
Parrot S.A. -
Aurora Flight -
Denel SOC Ltd. -
DJI Innovations -
Draganfly -
Northrop Grumman Corporation -
Lockheed Martin Corporation -
Elbit Systems Ltd. -
Yuneec International -
General Dynamics Corporation
Key Developments
-
In October 2023, ParaZero Technologies Ltd., and OVRL, a drone operator and trainer, announced that for the first time in Australian history, drones can now operate in above-populated areas using ParaZero safety systems. These have been approved by the Civil Aviation Safety Agency (CASA). -
In October 2023, DARPA searched for technology solutions that would enable autonomous commercial drones. The company introduced the Rapid Experimental Missionized Autonomy (REMA) program. REMA’s mission is to enable drones to continue executing predetermined missions even if operator connectivity is lost.
Key Findings of Market Report
-
Multirotor drones are set to gain momentum in the commercial drone industry. -
Inspection and monitoring applications are likely to dominate the market with an increase in public safety and rescue operations. -
Agricultural surveillance is expected to grow in Latin America, driving demand for commercial drones in the market. -
Commercial drone demand is expected to grow as military operations and regulations rise in the United States. -
Increasing technological advancements and demand for advanced sensors are expected to fuel the market’s growth.
Global Commercial Drones Market: Key Trends
There is a rising demand for aerial images and videos that are used to capture high-quality images for, real estate, filmmaking, and other visual media purposes.
Drones are widely used in the creation of detailed maps, virtual reality models, and detailed aerial surveys of landscapes, and construction sites. These drones are expected to be in high demand due to a growing military security and surveillance infrastructure.
Videos are becoming increasingly important at various events, which will drive the demand for commercial drones in the market.
Artificial intelligence integration and technological advancement are expected to drive market growth. As 5G technology and high-speed internet demand grow, commercial drones are estimated to be in huge demand.
It is expected that the market is estimated to be driven by a rising number of social media influencers and the production of videos that represent diverse travel experiences to grow the market.
Search and rescue missions can be greatly enhanced by the use of drones equipped with thermal imaging cameras and sensor equipment. These enable aerial views of disaster-affected areas and locate missing people as well.
Global Commercial Drones Market: Regional Landscape
North America is expected to dominate the commercial drone market by 2023. With growing military sectors in the United States, commercial drones are likely to be in high demand.
To integrate drones into the national airspace, the United States created a Drone Advisory Committee comprised of industry stakeholders and regulators. Creating such committees would remove many of the obstacles to the growth of commercial drones.
Drones are among the most popular products in the United Kingdom, with a significant potential for growth. With a leading economy and an international presence, the country is well-positioned to manufacture drones.
Global Commercial Drones Market Segmentation
By Type
-
Multi-rotor Drones -
Single Rotor Drones -
Fixed Winged Drones -
Hybrid Drones -
Others
By Application
-
Surveillance & Monitoring -
Filming & Photography -
Inspection & Maintenance -
Mapping & Surveying -
Precision Agriculture -
Others
By Region
-
North America -
Europe -
Asia Pacific -
The Middle East & Africa -
South America
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- Military building defended nation during the First and Second World Wars
- Martello tower like structure on a spit of land called ‘a first’ by auctioneers
A 168-year-old gun tower that sits in the river with the address No One, The Thames, is up for sale.
The military building defended the nation during the First and Second World Wars, from the mouth of the River Thames in Kent.
Estate agents Savills are now promoting it as a ‘a unique and peaceful position with far reaching sea and coastal views’.
The ex-army site is only accessible twice a day, at low tide via a causeway and owners and guests will have to use a boat at any other time.
Auctioneers expect the Martello tower-like building will fetch £150,000. They added the property, on a spit of land between the River Thames and River Medway, ‘is a first.’
It was the last gun tower of its kind to be built, constructed to protect the nearby military dockyards against French invasion.
Anglo-French tensions ran high in the 1850s and the nation feared a naval attack.
The tower guarded the key link between the Thames and Medway rivers, which led to Royal Navy Dockyards in Sheerness and Chatham.
However, artillery technology quickly improved and the construction became obsolete in the mid-19th century, almost immediately after it was completed.
By the end of the century it was transformed into a defence against raids by fast torpedo boats.
Decades later it was altered again – new, quick firing guns were added during World War I and World War II.
The property off the Isle of Grain, built in 1855 was decommissioned in 1956 and will go under the hammer on September 20 this year.
It is around four-and-a-half miles from the nearest train station of Swale but any potential buyer would need to spend a large amount to repair and return it to its former glory.
The new asking price is a significant drop from when it went on sale nearly three years ago for £1.9 million, having previously sold for £500,000 in 2014.
Savills Auctions Director Jeremy Lamb said the sale is rare adding: ‘There is always excitement when unusual lots come along as they have a special power to capture the imagination.
‘We’ve had water towers and military sea forts in our sales in the past, but this gun tower is a first.
‘A blank canvas with heaps of history and phenomenal sea views, not to mention its coveted No. 1 the Thames address.
‘Historically, rare lots like this have seen significant interest in our auctions.
‘Last summer the hammer came down on Bull Sand Fort in the Humber Estuary at nearly 10 times guide price after attracting bids from around the world and the year before that we auctioned a water tower in Essex which has since received permission for residential use and a chance to design a once in a life time property.’
A spokesperson described the potential buy as ‘atmospheric.’
They said: ‘The tower occupies a unique and peaceful position with far reaching sea and coastal views. The village of Grain is approximately one mile to the west.
‘The tower is atmospheric internally with a series of rooms, exposed brick work and concrete.
‘Of interest to developers and occupiers, the tower represents a unique opportunity with potential for alternative uses or development subject to the necessary consents.’
LONDON — Conservative voters are now more protectionist in their views about foreign investment than Labour or Liberal Democrat voters, according to polling seen by POLITICO.
The figures are a part of a set of polling results which show that the British public as a whole has grown wary of foreign direct investment (FDI) into Britain, particularly from China.
New polling from communications and advisory firm Hanbury Strategy revealed that the average 2019 Labour voter was 51 percent positive about a foreign firm buying a British firm, while a 2019 Conservative voter was 47 percent positive.
The average Lib Dem voter was 56 percent positive, according to the poll.
The polling also shows that 39 percent of Conservative voters think overseas companies should not own British companies, compared to 33 percent of Labour voters and 33 percent of Lib Dem voters.
Just 27 percent of Brits surveyed said they would be optimistic about foreign interests taking over a domestic company.
Sentiment was similar in the U.S., with 22 percent of Americans saying they would be optimistic about a foreign firm taking over a domestic company.
The polling may be seen as a result of prevailing western national security concerns about foreign investment from China and the increasingly protectionist policies that have been pursued in the U.S. since Donald Trump’s election as president in 2016.
The U.K. followed America’s lead in 2020, introducing the National Security and Investment Act to screen foreign investment into sensitive U.K. industries and banning Chinese firm Huawei from helping build Britain’s 5G network.
Ameet Gill, partner at Hanbury, said that “Western countries and the political movements that have driven globalization are now themselves pulling up the drawbridge.”
“Investors need to understand the concerns of local people and take action to demonstrate how they will improve their lives,” he added.
A government spokesperson said: “Our recent Public Attitudes to Trade survey found that, far from becoming more protectionist, over two-thirds of the British public are positive about the impact of trade on the U.K. economy, up 5 percent on the previous year.
“We are proud that the U.K. is one of the world’s top destinations for foreign inward investment, worth over £2 trillion.”
- Some property agents are wearing body cameras
- Cameras used as security measure during inspections
- Some tenants concerned cameras breach privacy
Real estate agents have resorted to wearing body cameras to protect themselves from potentially disgruntled renters.
The drastic step comes as skyrocketing rents and low property vacancies put a strain on already tense relationships between tenants and property managers.
Queensland-based company 360 Property Management Mackay has already rolled out the changes.
Office manager and sales agent Adele Crocker made the decision for her staff to wear body cameras when conducting tenant home inspections.
Ms Crocker decided on the security measure after one of her female agents was trapped inside a property after a renter refused to let her out.
‘After this occurred we had a big discussion on safety in the workplace and spoke about how we could all feel safer entering into home of what essentially are strangers,’ Ms Crocker told news.com.au.
Current tenants were informed that property managers would be wearing body cameras as part of their personal protective equipment, while new tenants will be advised at the beginning of their tenancy.
The body cameras will be turned on at the start of the inspection – when an agent enters the home – with the footage uploaded and stored on a data base.
Ms Crocker added the footage is stored for a short period of time and if no incidents arise during the visit it is then deleted.
She added the majority of tenants viewed the security measure as ‘important’ and were ‘surprised’ the agency had not implemented the policy sooner.
However, the agency received some negative written and verbal responses to the security policy claiming the body cameras violate their privacy.
Ms Crocker said staff are ‘very mindful’ of their tenants privacy but believes the cameras act a deterrent which stops renters from lashing out at staff.
‘If someone was upset, the camera may very well be a visual deterrent to become upset at staff and instead wait until they have left and then perhaps phone with their concerns,’ Ms Crocker said.
‘If walking into a strangers home with a camera on gives that feeling of security, with or without incident, then we are doing our job correctly.’
Corporate Director of OBrien Real Estate in Victoria Darren Hutchins said his team of property managers do not use body cameras but employ other safety measures.
Mr Hutchins explained property managers have a ‘safety app’ on their phone and are advised to take a support person or team member with them if they feel a conflict or issue could arise.
He added incidences between agents and tenants have occurred but are ‘very rare’, claiming when respect is shown to a renter then it is ‘generally given’ to staff.
In relation to body cameras and privacy, there is no general ‘right’ to privacy that is enforceable by legislation in Australia.
There is no legal objection for someone to take a photo or video footage of something that they can capture from where they are standing as long as it is in a public space.
An individual can object to footage provided it was captured in a non-public space including somewhere owned by a person, government department or company.
However, the law becomes more complicated when dealing with property managers who enter a tenants home for the purpose of an inspection.
The property manager, in a legal sense, is an agent for the homeowner and therefore is not viewed as an ordinary member of the public just as the tenant is not viewed as ‘owning’ the space.
Although the financial calendar will cool down this week, a wave of retail earnings reports and economic data will keep traders busy.
Other earnings reports include
and
on Tuesday, followed by
Systems and
on Wednesday.
and
report on Thursday.
Deere
,
Estée Lauder, and
wrap up the week with reports set for Friday.
The Census Bureau will put out retail sales data for July on Tuesday. The consensus estimate is for spending to rise 0.4% month over month following a 0.2% increase in June. Resilient consumers have powered the economy this year in the face of a contracting manufacturing sector. The National Association of Home Builders will also release its Housing Market Index for August.
On Wednesday, the Federal Open Market Committee will release the minutes from its late-July monetary-policy meeting. The FOMC raised the headline interest rate by 25 basis points. The FOMC is expected to keep interest rates steady at the September meeting, barring any inflationary surprises. Also on Wednesday, the Census Bureau will report new residential construction statistics for July.
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The Conference Board will release its Leading Economic Index for July on Thursday. The consensus call is for a 0.3% month-over-month decline. The LEI has fallen for 15 straight months, and the Conference Board still expects the economy to slip into a recession later this year.
Tuesday 8/15
Agilent Technologies, Cardinal Health, Home Depot, and Jack Henry & Associates release earnings.
The Census Bureau releases retail sales data for July. Consensus estimate is for spending to rise 0.4% month over month following a 0.2% increase in June. Resilient consumers have powered the economy this year in the face of a contracting manufacturing sector.
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The National Association of Home Builders releases its Housing Market Index for August. Expectations are for a 54.5 reading, slightly less than in July. Homebuilders’ sentiment has risen sharply this year despite 30-year mortgage rates near 7%, as a slowdown in existing-home sales has created a surge in demand for new homes.
Wednesday 8/16
Cisco Systems, Synposys, Target, and TJX Cos. announce quarterly results.
The Federal Open Market Committee releases the minutes from its late-July monetary-policy meeting. The FOMC raised the federal-funds rate at that meeting by a quarter of a percentage to 5.25%-5.50%, which the majority of traders expect to be the last interest-rate hike for this cycle.
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The Census Bureau reports new residential construction statistics for July. Economists forecast a seasonally adjusted annual rate of 1.44 million privately-owned housing starts, roughly even with the June data.
Thursday 8/17
Applied Materials, Keysight Technologies, Ross Stores, Tapestry, and Walmart hold conference calls to discuss earnings.
The Conference Board releases its Leading Economic Index for July. The consensus call is for a 0.3% month-over-month decline. The LEI has fallen for 15 straight months, and the Conference Board still expects the economy to slip into a recession later this year.
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Friday 8/18
Deere, Estée Lauder, and Palo Alto Networks report quarterly results.
—Dan Lam contributed to this article
Write to Connor Smith at connor.smith@barrons.com
Security footage from inside the Commercial Bay tower complex shows heavily armed police sweeping the building after the mass shooting in Auckland this morning.
With rifles raised, flashlights and other tactical equipment, the officers move through the restaurant Burger Burger, searching the building for any more danger after the gunman, 24-year-old Matu Tangi Matua Reid, was killed following a shootout with police.
Before his death, Reid killed two civilians and injured at least five others, including a police officer.
Police Commissioner Andrew Coster, speaking at a media briefing this afternoon, offered his condolences to the family and friends of colleagues and victims.
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Coster said his investigation team was working at pace to determine the cause of the shooting.
He said police were at the site within minutes of receiving multiple calls just after 7.20am.
The offender made his way up the site, and members of the public were evacuated whenever possible.
Police located the offender in a lift shaft. The offender fired at police, injuring an officer.
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Coster said the officer will receive surgery today.
Coster said it was a shocking and traumatic event for those who came to work and found themselves in the middle of an armed emergency.
The offender did not have a firearms licence. Coster confirmed the weapon fired by the offender was a shotgun.
Coster confirmed the offender was the subject of home detention. He wasn’t breaching conditions by going to the site.
The Herald earlier reported Reid was serving a community-based sentence of home detention at the time of the shooting and was subject to electronic monitoring via an ankle bracelet tracker.
He was known for his family violence history, but Coster said there was no history of him showing prior risk.
“There has been [a] previous search of his property, but [we] never found him in possession of a firearm.”
Stuart Cockburn, general manager of ambulance operations for Hato Hone St John, said they had assessed 10 patients and seven had been taken to hospital.
Witnesses have described seeing the shooter stroll casually through the Britomart train station just before he attacked the under-renovation One Queen St building.
The shooter, who was carrying a pump-action shotgun, walked up the stairs and yelled at the building’s construction workers to climb to the roof or he would shoot them.
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Workers told the Herald they started to leave the building when the fire alarm went off, but they didn’t realise it wasn’t a drill until others started running and shouting.
High-visibility vest-clad workers can be seen hiding behind things on the roof and in offices halfway up the building in photos.
Rachel Maher is an Auckland-based reporter who covers breaking news. She has worked for the Herald since 2022.
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This week’s episode covers a DHS final rule implementing
measures to safeguard Controlled Unclassified Information and
facilitate improved incident reporting to DHS, a letter from
Silicon Valley defense technology and venture capital firms calling
on DoD to better embrace and scale commercial innovation for
military use, a bid protest decision in which the Court found that
an agency abused its discretion in not allowing protester to fix a
minor proposal error through clarifications, and is hosted by Peter
Eyre and Yuan Zhou.
Listen: Crowell.com | PodBean | SoundCloud | Apple Podcasts
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Manufacturing is emerging as one of the most exposed sectors to ransomware attacks, a report published on Tuesday by cyber security firm Sophos noted. According to its “State of Ransomware in Manufacturing and Production 2023” report, which polled 3,000 IT/cybersecurity leaders in large and mid-sized enterprises, more than two-thirds (68%) of these firms have been hit by ransomware attacks globally had their data encrypted by hackers. This is the highest reported encryption rate for the sector over the past three years, noted Sophos, indicating that attackers are frequently succeeding in encryption data.
While, the percentage of manufacturing firms using backups to recover data has gone up, with 73% of the manufacturing companies surveyed using backups this year versus 58% in the previous year, the sector still has one of the lowest data recovery rates, said the study. For example, in 2022, 67% of manufacturing organisations recovered within a week, while 33% recovered in more than a week. That said, use of backup alone does not guarantee a faster recovery,
“With 77% of manufacturing organisations reporting lost revenue after a ransomware attack, this added cost burden should be avoided, and priority placed on earlier detection and response,” John Shier, field CTO, Sophos, said.
This extended recovery is negatively impacting IT teams, showed the survey, where 69% said that addressing security incidents is too much time consuming and 66% mentioned they are unable to work on other projects as well.
Encryption is often less effective if the cryptographic keys that encrypt and decrypt the data are not secure. Malicious actors often concentrate their attacks on obtaining an organisation’s encryption keys, said Yogesh Zope, chief information officer (CIO) and chief digital officer (CDO) at forging company Bharat Forge. He noted that it requires new approaches to security in the era of smart manufacturing, and emphasised on a robust security solution like an endpoint detection and response (EDR) system.
O.A. Balasubramaniam, Director IT – electric horn manufacturer Roots Group of Companies, also said that manufacturing organisations should invest in cyber security management programmes including threat intelligence, vulnerability assessment, etc. that extend across their IT and OT networks.
The study also found that the proportion of manufacturing organisations paying higher ransoms has increased since last year. Notably, 40% paid a ransom between $100,000 and $999,999 in 2022 compared to 29% who paid this amount in 2021.
Apparently, if organisations pay the ransom, the cybercriminals will give them decryption tools and retract the threat of exposing sensitive data. However, Vishak Raman, vice president for sales in India, SAARC and Southeast Asia, noted, payment doesn’t always guarantee that all the data will be restored. From an organisation’s perspective paying the ransom to recover the lost information might look like the easiest alternative. But paying ransom means we are aiding the attackers’ business model, which will only lead to more ransomware.
According to research firm Gartner, on average, only 65% of the data is recovered, and only 8% of organisations manage to recover all data.
Sean Pollock on Unsplash
GUEST OPINION: Looking for a long-term investment opportunity? If you have money saved and want to grow your financial security, real estate investing is one of the best options available. While turning real estate investing into your only income may be more challenging, many people find real estate a great way to build savings.
While there are various ways to get into real estate investing, such as becoming a landlord or flipping properties, many individuals find commercial real estate lucrative. While it’s not perfect for everyone, it might be a wise financial decision for you.
This guide will cover some of the risks and advantages of commercial real estate.
Pros of Commercial Real Estate Investing
There are many kinds of commercial real estate properties. From apartment buildings to retail complexes to industrial parks, you can find various investments at various price points. While there are variables, depending on where you live and your budget, some of the overall pros of commercial real estate investments include the following:
- Return on investment: Of course, not everyone will make money each year after buying a commercial property, but in general, commercial priorities tend to have a return of around 6% or even up to 12%.
- Retail renters have a vested interest: One of the downsides of renting out residential real estate properties is that tenants may damage the property. However, commercial real estate renters often have a vested interest in keeping the building looking good, as this reflects their business operations.
- Longer, more flexible leases: Another advantage of commercial real estate investing, especially over residential properties, is that leasing terms tend to be more flexible. It’s common to have a lease that lasts over five years, whereas most residential properties have leasing terms of a year. This way, you have less turnover.
Potential Risks Of Commercial Real Estate Investing
While investing in commercial properties can be an excellent way to make a profit and deal with less hassle, you may face some downsides, too. All investments come with some level of risk. Still, it’s essential to know the potential drawbacks before spending a lot of money on a property.
Some of the potential risks of commercial real estate investing include:
- More expensive upfront: While not always true, commercial real estate properties generally cost more. So, you’ll need to have more cash upfront, even if you make more money in the long run.
- Not as recession-proof: While housing is almost always in demand, the economy does have a considerable impact on commercial properties. Various economic factors could lead to a business closing, so you may find it harder to keep the property rented.
- Potential lawsuits: While you could end up in a legal battle with a residential tenant, commercial buildings often have more visitors. With many more people coming in and out of the building, you could be held liable for any injuries. It’s important to know the laws and have good insurance.
All real estate investments also require a significant time investment. While you can lessen your involvement by hiring a property manager, getting your commercial real estate investments in order will take time and money.
However, many people find that the benefits far outweigh the cons. It’s simply a matter of assessing your finances and determining if commercial real estate is a sensible option.
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GARTNER MARKET GUIDE FOR NDR 2022
You probably know that we are big believers in Network Detection and Response (NDR).
Did you realise that Gartner also recommends that security teams prioritise NDR solutions to enhance their detection and response?
Picking the right NDR for your team and process can sometimes be the biggest challenge.
If you want to try out a Network Detection and Response tool, why not start with the best?
Vectra Network Detection and Response is the industry’s most advanced AI-driven attack defence for identifying and stopping malicious tactics in your network without noise or the need for decryption.
Download the 2022 Gartner Market Guide for Network Detection and Response (NDR) for recommendations on how Network Detection and Response solutions can expand deeper into existing on-premises networks, and new cloud environments.
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If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.
The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.
Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.
We look forward to discussing your campaign goals with you. Please click the button below.