The homes and buildings industry’s future is technology enabled. Recovery from the COVID-19 pandemic combined with decarbonization challenges will accelerate the use of digital building technologies. Heightened awareness about a safe and healthy environment will prompt the use of the internet of things (IoT), artificial intelligence (AI) applications, and cloud-based data analytics in the life cycle of buildings. These digital technologies are already emerging in solutions and services for lighting, ventilation, building energy and automation systems, and facility management. Digitalization of buildings during the pandemic has opened doors to opportunities in workplace optimization, operational cost savings, indoor air quality management, and crowd management. In promoting digitalization and new service propositions, industry participants across the value chain are devising new customer-centric business models and user experience strategies that will allow end users to achieve organizational resilience and sustainable operations. The analyst team has identified 10 growth opportunities in the homes and buildings space that it expects to have a strong impact in 2023 and beyond.

Author: Viswesh Vancheeshwar