|Global Homes and Buildings (H&B) Industry Outlook, 2018|
|Virtual Voice Assistants, Artificial Intelligence, and Blockchain will Take the Industry to the Next Phase of Evolution|
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.