Digital Solutions To Drive Buildings Market

The penetration of advanced technologies that provide energy and cost benefits and value-based outcomes will drive the global homes and buildings industry in 2020, says a report by Frost & Sullivan. The ‘Global Homes and Buildings Outlook, 2020’ says, however, that industry revenues are expected to drop by 3.5 per cent from 2019 as a result of the COVID-19 pandemic. Markets for HVAC, refrigeration systems, and fire safety products will continue to witness demand for their solutions and services. As well, the cleaning aspect of facilities management services will also grow, as there will be an increase in demand for the disinfection of commercial and industrial spaces. For further revenue opportunities, the report says 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. They should also market services to critical end-user segments that are considered essential.