Breaking Property News – 01/07/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
New State of Physical Access Control Report from HID
HID, a worldwide leader in trusted identity and physical access control solutions, announces the 2024 State of Physical Access Control Report, identifying five key trends that are shaping the future of access control.
Produced by IFSEC Global in partnership with HID, the report surveyed over 1,200 security professionals across the globe to paint a picture of an industry that has been going through considerable transformation. Conducted between November 2023 and January 2024, the survey reveals five trends, as follows:
Mobile access and digital ID set to become ubiquitous While physical ID is still prevalent within the access control industry, there is no doubt that mobile access credentials and digital IDs are quickly gaining ground.
According to this report, nearly 2 in 5 organizations (39%) now actively use mobile identities with respondents naming touchless/contactless solutions (48%) and mobile access (44%) as the two largest trends shaping the wider access control industry.
Open standards driving smart buildings phenomenon Open standards have become key drivers for more converged security solutions, where physical access control data is helping not just to decide who should be allowed into the building, but also how that building can best be used. As the report shows, almost half of organizations (48%) already have access control/badge scanning systems in place to monitor building usage throughout the day, at least to some extent.
Additionally, 43% of respondents cited smart buildings and flexible workspaces being among the top three trends shaping the wider access control industry. Integration with other business functions was also listed by one in three respondents (32%) as another top trend.
Sustainability becoming a greater influence on business decisions Sustainability is playing a significant role in access control with nearly two thirds (63%) of respondents citing that those with responsibility for sustainability have either some influence or are fully consulted when it comes to upgrading physical access control systems.
The rise of artificial intelligence for analytics use cases The use of Artificial Intelligence capabilities in physical access control is becoming more common as AI technologies and expertise are developed. Asked if they are looking to incorporate AI/machine learning into their access control solutions, 38% of stated they were (although the same percentage said they were unsure of the benefits). Only 23% said they didn’t have any plans to incorporate AI technologies.
Growing role of biometrics – especially contactless solutions The biometrics market is growing at a rapid pace. By 2031 the worldwide market for biometrics is expected to reach $136.18 billion while the global facial recognition market alone is predicted to grow to $16.74 billion by 2030, up from $3.83 billion in 2020. That’s a CAGR of 16% from 2021 to 2030.
All data cited in this press release are from the full report, which provides an in-depth analysis on what is driving the physical access control industry now and into the future. To learn about the security and sustainable benefits of HID Access Control Systems, visit their website.
Stay Connected with HID
HID powers the trusted identities of the world’s people, places and things. We make it possible for people to transact safely, work productively and travel freely. Our trusted identity solutions give people convenient access to physical and digital places and connect things that can be identified, verified and tracked digitally.
Millions of people around the world use HID’s products and services to navigate their everyday lives, and billions of things are connected through HID’s technology. We work with governments, educational institutions, hospitals, financial institutions, industrial businesses and some of the most innovative companies on the planet.
Vonovia & Founders Factory powers new proptech startups in urban living
Founders Factory, the global startup studio, and Vonovia, Europe’s biggest housing company providing homes to one million people, are joining forces to build new tech startups. Underpinned with the mission of meeting the demands of expanding built areas, the new venture studio will deliver new tech innovations that support the scaling and availability of affordable as well as climate neutral housing. In the initial phase of the projects, Vonovia provides financial support and a strategic advantage. In return, the housing company receives minority shares in each startup.
The Vonovia/Founders Factory venture studio will partner with ambitious entrepreneurs to create new property, finance and climate startups. Founders will work closely with Vonovia and Founders Factory to utilise groundbreaking technologies to bridge the gap between the needs of the population and the spaces they inhabit and support the emergence of smart, connected cities. This partnership will explore how frontier technologies, such as generative AI, digital twins, and intelligent infrastructure, can be applied to address the challenges and opportunities of modern urban living.
The new venture studio combines Vonovia’s unique data and insights as Europe’s largest residential company with Founders Factory’s proven track record of building climate tech, fintech and mission-led startups. As a result, it presents a unique opportunity for entrepreneurs to bring positive change in the DACH-region by tackling some of its biggest social, environmental and financial challenges – such as climate change and shifting population demographics.
Alexander Weihe, Head of Innovation and Business Building Vonovia SE said; “As the biggest housing company in Europe Vonovia’s strategy on sustainability and innovation has been setting standards in the property sector for several years. Vonovia aims to achieve a near climate neutral building stock by 2045 and affordable living remains a cornerstone of our activities.
We therefore need the best innovations from start-ups to make our buildings and neighbourhoods sustainable and climate neutral. The collaboration with Founders Factory will produce new solutions that our society urgently needs. We are opening up access to our expertise to support entrepreneurs who want to bring about positive change.”
Henry Lane Fox, Founders Factory CEO added; “Germany’s shifting population demographic, increasing urbanisation and climate change are challenges where innovation and entrepreneurship can be leveraged to find a solution. This mission is at the core of our partnership with Vonovia.”
Founders Factory has a track record of creating, spinning out and investing in groundbreaking tech startups. Previous Founders Factory venture studio companies that have taken on the biggest environmental, social, and financial issues associated with the property space include BuiltAI, Materials Nexus, Tembo, Furbnow, Acre, Hammock and EcoNest.
Founders Factory builds and funds startups together with exceptional entrepreneurs and the world’s leading companies. Created by IPO-exited founders and operating globally, including London, New York, Berlin, Milan and Singapore, Founders Factory offers founders capital, operational support from a team of hands-on experts, and unrivalled access to a coalition of industry leading corporate partners.
Founders Factory’s Venture Studio co-founds businesses from inception, developing new ideas, technologies and business models into high growth companies. Operating sector-focused Accelerator programmes and Venture Funds for pre-seed and seed stage startups, Founders Factory invests in talented and diverse founding teams across industries and geographies – with a current focus on FinTech, Health, Climate, and Deep Tech.
Since 2015, Founders Factory’s 300+ portfolio companies have raised $1bn+ follow-on funding from leading funds and investors.
Vonovia provides a home for over one million people. The housing company is at the center of society, which is why Vonovia’s activities never just have an economic perspective, but always a social one as well. Vonovia is involved in finding answers to the current challenges on the housing market. The company is committed to greater climate protection, increased age-appropriate housing, and good coexistence in neighbourhoods.
The Bochum-based company has been listed on the stock exchange since 2013. The shares were included in the DAX in September 2015. Vonovia employs around 12,000 people. Chairman of the Management Board is Rolf Buch.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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