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Global Homes and Buildings Industry Outlook, 2024
Global Homes and Buildings Industry Outlook, 2024
Harnessing Sustainability-driven and Climate-smart Innovation Critical for Future Growth Potential
24-Apr-2024
Global
Market Research
Description
The homes and buildings industry experienced a solid 7.2% growth in 2023, driven by increasing demand for facility management services, smart home devices, transition towards energy-efficient HVAC systems, tech-driven building optimisation solutions, and construction management solutions. This growth was further propelled by the increasing adoption of Internet of Things (IoT) and artificial intelligence (AI) technologies, particularly in the realm of intelligent building solutions. The industry, however, faces several challenges, including rising building operation costs, rising construction material costs and project delays, system integration challenges, capital risks, and market instability. Moreover, geopolitical crises loom as potential disruptors in the industry's performance for 2024.
In response to these challenges and opportunities, Frost & Sullivan provides an in-depth analysis of critical industry influencers and indicators, offering predictions and trends for 2024. The report covers various industry segments, such as lighting, critical building equipment, smart building management, facility management, smart homes, and construction management. Additionally, the report presents revenue forecasts, revenue shares by subsegment, Frost perspective, and regional outlooks for North America, Europe, Asia-Pacific, and Rest of World, with indicators on clean energy progress in each region.
The report emphasizes the dynamic nature of the market that is undergoing rapid changes because of decarbonisation, digitization, and sustainability measures, as well as external economic and geopolitical forces. Key areas of focus include heightened awareness of climate change, promotion of energy efficiency policies, cybersecurity in the built environment, digital and circular lighting practices, AI-enabled applications in the AEC industry, and the growing need for a personalised user experience in smart homes. Frost & Sullivan highlights growth opportunities for industry participants to explore, encouraging the expansion of portfolios in key growth zones to foster new revenue streams and solidify growth strategies amidst evolving market dynamics.
Author: Anirudh Bhaskaran
Table of Contents
Highlights for 2023
Industry Challenges
The 2023 Global Homes and Buildings Industry—Forecast vs Actual
Global Homes and Buildings Industry Revenue
Top Predictions for 2024
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Homes and Buildings Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Research Scope
Market Segmentation
Forecast Assumptions
Revenue Forecast by Segment
Revenue Forecast by Segment (continued)
Revenue Forecast by Region
Top Predictions
Top Predictions (continued)
Prediction 1—AI and Super Computing for Climate Change Mitigation
Prediction 2—Human-centric Lighting
Prediction 3—Sustainable and Circular Lighting
Prediction 4—Cybersecurity Challenges
Prediction 5—Digitised Maintenance
Prediction 6—Sustainable Climate Control Systems
Prediction 7—Next-generation Voice Assistants
Prediction 8—Immersive Connected Home Experience
Prediction 9—AI-infused Construction Analytics
Prediction 10—AI-driven PropTech Applications
Impact Assessment Matrix—Predictions 2024
Impact Assessment Matrix—Predictions 2024 (continued)
Lighting
Critical Building Equipment
Smart Building Management
Smart Homes
Facility Management
Construction Management
Resideo Technologies, Inc. (Resideo)
Siemens AG
Autodesk
Schneider Electric
Honeywell
Other Companies to Watch for 2024
North America
Europe
APAC
Rest of World
Conclusions
Growth Opportunity 1: Resurgence of Light-as-a-Service (LaaS) Through Digital and Circular Lighting Services
Growth Opportunity 1: Resurgence of Light-as-a-Service (LaaS) Through Digital and Circular Lighting Services (continued)
Growth Opportunity 2: Cybersecurity is Critical to Enhance the Integrity of Smart Building Systems
Growth Opportunity 2: Cybersecurity is Critical to Enhance the Integrity of Smart Building Systems (continued)
Growth Opportunity 3: Building-level Energy Efficiency Regulations and Codes are Vital for Reaching Net Zero Emission Goals
Growth Opportunity 3: Building-level Energy Efficiency Regulations and Codes are Vital for Reaching Net Zero Emission Goals (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
| Deliverable Type | Market Research |
|---|---|
| Author | Anirudh Bhaskaran |
| Industries | Environment |
| No Index | No |
| Is Prebook | No |
| Podcast | No |
| Predecessor | PE30-01-00-00-00 |
| WIP Number | PFA9-01-00-00-00 |