According to Global Homes and Buildings Industry Outlook 2017, part of Frost & Sullivan’s Homes & Buildings Growth Partnership Service (GPS) programme, the global homes and buildings industry is undergoing an intense evolution and accelerated growth.

Transformational technologies such as Internet of Things (IoT), Big Data, data analytics, and the cloud are propelling double-digit growth and market expansion in connected homes and light-emitting diode (LED) lighting sectors. This is augmenting growth in the building automation market and playing an important role in the delivery of products and solutions in traditional sectors such as heating ventilation, air conditioning, and fire and safety technology, the report says.

The outlook predicts that the industry is expected to reach $1,150.75 billion this year. The research provides a detailed analysis of growth opportunities, technologies, and transformation trends impacting the industry, and profiles innovative and emerging companies to watch in 2017.

Developments driving accelerated growth include: the residential LED lighting market, the connected homes market, connected HVAC systems in the commercial sector, data analytics, the residential energy storage market and Solar PV, LED, and lithium-ion technologies.

In addition, the cloud’s full potential in energy management will be realised by developing a centralised data repository for customers to access their building’s energy data.

For more information on the report email Anna Zanchi anna.zanchi@frost.com