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Artificial Intelligence (AI), Voice Command Control, and IoT-enabled Lighting to Drive the Industry Forward
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The homes and buildings (H&B) industry continues to evolve, driven by transformational technologies such as artificial intelligence (AI), machine learning, Internet of Things (IoT), data analytics, and the cloud. These technologies are significantly impacting smart homes, LED lighting, building automation, and building energy management markets. Even in traditional markets such as heating, ventilation, and air conditioning (HVAC); fire and safety; and facilities management, technology is gradually penetrating to play a vital role in seamlessly integrating them to overall building management and optimisation. The convergence of technologies will continue to change the market dynamics of the H&B industry by reducing operating and infrastructure costs and improving the financial optimization of buildings. The H&B industry is expected to reach $1,298.45 billion in 2019, with market expansion driven by accelerated growth in segments such as smart homes, LED lighting, BEMS, HEMS, and residential energy storage.
Home and Buildings industry is a dynamic and exciting space with huge opportunities for different tier-level participants. Leading players offer automation products, solutions, and digital services that help consumers stay connected and control their buildings. This ensures safe, secure, and efficient operation of buildings throughout the entire lifecycle. Disruptors and deeply entrenched participants are fiercely competitive in terms of business models, IoT-based product offerings, and price. Therefore, it is necessary for participants to be aware about growth opportunities, target regions, technologies transforming the industry, and companies to watch in different markets to stay ahead of the competition. This outlook will help participants understand the dynamics of the industry in 2019 with focus on key market developments and predictions and also help participants to identify disruptive trends discussed in this study. It will urge them to integrate those technologies in their products and solutions as well as evaluate the impact of it on respective markets.
Market trends have been analysed for the study period of 2018 to 2019, with the base year as 2018. The study deals with the H&B industry as 6 key segments: 1) Lighting – LED lighting, lighting controls, smart street lighting, smart lamp poles; 2) Energy Management – Residential energy storage, HVAC, refrigeration solutions, and low-voltage power distribution; 3) Automation – Building automation and BEMS; 4) Facility management; 5) Fire, safety and security and 6) Smart homes.
The study assesses and discusses the companies that performed well in 2018 and discusses the companies that are worth looking out for in 2019. Some companies considered for the study include Siemens, Honeywell, Johnson Controls, Schneider Electric, Carrier, Osram, Signify, Daikin, Google, Amazon, Tesla, EcoEnergy Insights, Foghorn, 75F, Verdigris, Xiaomi, Netatmo, Sense, and Reliance Jio.
Key Issues Addressed
Author: Anirudh Bhaskaran
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