The report highlights the rapidly evolving homes and buildings industry, influenced by trends like decarbonization, digitization, and sustainability, as well as external economic and geopolitical factors.
In 2023, the industry saw a robust 7.2% growth, driven by the rising demand for facility management services, smart home devices, energy-efficient HVAC systems, and tech-driven building optimization solutions. The adoption of IoT and AI technologies, particularly in intelligent building solutions, also contributed to this expansion.
Despite this growth, the industry faces significant challenges, including rising building operation and construction material costs, project delays, system integration issues, capital risks, and market instability. Geopolitical crises also pose potential risks for the industry’s performance in 2024.
To address these challenges and capitalize on opportunities, the report offers an in-depth analysis of key industry influencers and trends for 2024. It covers various segments, including lighting, critical building equipment, smart building management, facility management, smart homes, and construction management. The report also provides revenue forecasts, subsegment revenue shares, and regional outlooks for North America, Europe, Asia-Pacific, and the Rest of the World, with insights on clean energy progress in each region.
Key focus areas include climate change awareness, energy efficiency policies, cybersecurity in built environments, digital and circular lighting practices, AI-enabled applications in the AEC industry, and the growing demand for personalized user experiences in smart homes. The report identifies growth opportunities for industry participants, encouraging them to expand portfolios in key growth zones to unlock new revenue streams and strengthen growth strategies amid shifting market dynamics.
Growth Opportunity Highlights:
- Resurgence of Light-as-a-Service (LaaS) through digital and circular lighting services
- The critical role of cybersecurity in enhancing smart building systems’ integrity
- Building-level energy efficiency regulations and codes are essential for achieving net-zero emissions
Key Topics Covered:
- Growth Dynamics:
- 2023 highlights
- Industry challenges
- 2023 forecast vs. actual performance
- Global industry revenue
- Top 2024 predictions
- Strategic Imperatives:
- Challenges to growth
- Strategic imperatives
- Impact of strategic imperatives on the industry
- Growth opportunities fueling the pipeline
- Growth Environment and Scope:
- Research scope
- Market segmentation
- 2024 revenue trends and forecasts by segment and region
- Top 2024 predictions
- Segments Outlook – 2024:
- Lighting
- Critical building equipment
- Smart building management
- Smart homes
- Facility management
- Construction management
- Companies to Watch – 2024:
- Resideo Technologies
- Siemens AG
- Autodesk
- Schneider Electric
- Honeywell
- Other companies to watch
- Regional Outlook – 2024:
- North America
- Europe
- Asia-Pacific
- Rest of World
