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Future Growth Potential Driven by Resilient and Sustainable Business Models
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The COVID-19 pandemic has impacted nearly every sector and has forced various industries to undergo business transformation initiatives to adapt to the new normal environment. The Homes and Buildings (H&B) industry is no exception and is expected to face an acute recovery challenge both from the supply and demand side of the industry in 2021. As homes and buildings industry participants deal with continued slowdown and fundamental shifts brought by the pandemic, there are distinct pockets of industry opportunities. Although the effect of the pandemic was severe in traditional markets such as HVAC, lighting, and building automation, technology-based software markets, driven by the penetration of the Internet of Things (IoT) at the field level of buildings, emerging adoption of AI-driven solution at the management level, and cloud-based remote services were resilient during the pandemic. Frost & Sullivan sees an increased awareness among building managers and customers on the value creation from these technologies. Industry participants of traditional markets integrate digital offerings to provide technology-enabled solutions that play a vital role in seamless integration with existing systems and delivering building performance optimisation. The H&B industry will continue to evolve with the penetration of advanced technologies delivering energy and cost benefits and, above all, value-based outcomes.
The H&B industry is a combination of traditional and high-growth markets with huge opportunities for both leading and emerging participants. Leading building technologies' participants are swiftly changing their value proposition towards improving the energy efficiency and sustainability of buildings and occupant's comfort by integrating digital offerings into their existing solutions and through mergers and acquisitions. Emerging participants are innovating faster by incorporating some cutting-edge technologies in their product offerings that sometimes outsmart the product offerings of incumbents. Therefore, it is necessary for industry participants, investors, and other stakeholders to know about the homes and buildings ecosystem, key growth opportunities in different industry segments, target regions, technologies transforming the industry, and the companies to watch to stay ahead in the competition. This outlook will help participants understand the industry dynamics in 2021 with a focus on key market developments and predictions.
Market predictions, trends, and growth opportunities have been analysed for 2021, with the base year 2020. The study deals with the H&B industry that has 7 key segments: lighting, energy management, smart building management, facility management, fire safety and security, smart homes, and construction management.
The study also assesses and discusses the companies that performed well in 2020 and mentioned them under the ‘companies to watch out for’ section in the research. The companies considered for the assessment are Autodesk, Carrier, Siemens, Johnson Controls, Schneider Electric, Signify, EcoEnergy Insights, Aircuity, 75F, FogHorn, Enlighted, Helvar, Airthinx, Airthings, IQ Air, Molekule, Aura Air, Spacewell, BrainBox AI, L&T Technology Services, Honeywell, Bosch, CBRE, Cushman & Wakefield, Plume, Cognitive Systems, Bentley Systems, Nemetschek Group, and Procore.
Key Issues Addressed
Author: Anirudh Bhaskaran
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