|Global Homes and Buildings (H&B) Industry Outlook, 2019|
|Artificial Intelligence (AI), Voice Command Control, and IoT-enabled Lighting to Drive the Industry Forward|
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.