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Virtual Voice Assistants, Artificial Intelligence, and Blockchain will Take the Industry to the Next Phase of Evolution
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The homes and buildings (H&B) industry continue to evolve, driven by transformational technologies such as Internet of Things (IoT), data analytics, and the cloud. These technologies are significantly impacting the connected homes, LED lighting, building energy management markets. Even in traditional markets such as heating, ventilation, and air conditioning (HVAC); fire and safety; and facilities management, technology is slowly penetrating to play a vital important role in building energy optimization. The convergence of technologies will continue to change the market dynamics of the H&B industry by reducing the operating and infrastructure costs and improving the financial optimization of buildings. The H&B industry is expected to reach $1,191.96 billion in 2018, with market expansion driven by double-digit growth in segments such as connected homes and LED lighting.
Home and Buildings industry is a dynamic and exciting space with huge opportunities for different tier-level participants. Disruptors and deeply entrenched participants are fiercely competing in terms of business models, IoT-based product offerings and price. Therefore, it is necessary for participants to know about growth opportunities, target regions, technologies transforming the industry, companies to watch out in different markets to stay competitive in the industry. This outlook will help participants understand the dynamics of the industry in 2018 with focus on key market developments and predictions and also this study will help participants to identify disruptive trends discussed in this study and intrigue them to integrate those technologies in their products and solutions as well as evaluate the impact of it on respective markets.
The market trends have been analyzed for the study period of 2017 to 2018, with the base year as 2017. The study deals with the H&B industry as 2 separate entities: homes—LED lighting, connected homes, home energy management, energy storage, and solar photovoltaic (PV); buildings—LED lighting, building energy management, building automation systems, HVAC, fire and safety, and low-voltage power distribution.
The study assesses and discusses the companies that performed well in 2017 and discusses the companies that are worth looking out for in 2018. Some companies considered for the study include Siemens, Honeywell, Johnson Controls, Schneider Electric, Compass, OSRAM, Philips, Google, Amazon, Tesla, EcoEnergy Insights, Cisco, View and Qualcomm.
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