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Digital Solutions Optimize Performance in Global Homes & Buildings Market Following Minor COVID-19 Setbacks


Digital Solutions Optimize Performance in Global Homes & Buildings Market Following Minor COVID-19 Setbacks

PR Newswire

Technology-based offerings in Homes & Buildings industry segments to find growth opportunities amid pandemic, finds Frost & Sullivan 

SANTA CLARA, California, May 29, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Global Homes and Buildings Industry Outlook, 2020, reveals that the penetration of advanced technologies that provide energy and cost benefits and value-based outcomes will drive the global homes & buildings (H&B) industry in 2020. However, an additional report, Impact of COVID-19 on Global Homes and Buildings Industry, 2020, notes industry revenues are expected to drop by 3.5% from 2019 as a result of the COVID-19 pandemic.

Frost & Sullivan - Global Homes & Buildings

For further information on these analyses, please visit: http://frost.ly/44v

"While the coronavirus is expected to negatively impact the homes & buildings industry, markets for HVAC, refrigeration systems, and fire safety products will continue to witness demand for their solutions and services, given their necessity in critical end-user industries such as hospitals and residences," said Anirudh Bhaskaran, Senior Industry Analyst for Homes & Buildings at Frost & Sullivan. "The cleaning aspect of FM services will also grow, as there will be an increase in demand for the disinfection of commercial and industrial spaces."

Bhaskaran added: "There is an increased level of awareness among building managers and customers about value creation from IoT and AI-driven solutions. Participants in traditional markets such as heating, ventilation, and air conditioning (HVAC), fire safety, and facility management (FM) are integrating digital offerings into their solutions, which will play a vital role in optimizing a building's performance."

For further revenue opportunities, vendors in this industry should:

  • Create a cross-functional COVID-19 task force to reinforce confidence in employees and partners, and gain trust among customers.
  • Provide services to critical end-user segments that are considered "essential."
  • Increase the adoption of AI and machine learning algorithms in building technology solutions to enable cognitive abilities in buildings and reduce human intervention.
  • Design modular, upgradeable, and reusable products to help reduce waste.
  • Offer building management solutions at attractive prices and business models.

Global Homes and Buildings Industry Outlook, 2020 and Impact of COVID-19 on Global Homes and Buildings Industry, 2020 are a part of Frost & Sullivan's global Building Management Technology Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Global Homes and Buildings Industry Outlook, 2020
MF45-19

Impact of COVID-19 on Global Homes and Buildings Industry, 2020
K4ED-19

Contact:
Jaylon Brinkley
E: jaylon.brinkley@frost.com    
T: 210.247.2481

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SOURCE Frost & Sullivan


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