Artificial Intelligence in the Global Homes & Buildings Industry, Forecast to 2030
Homes & buildings is a technology-driven industry that is witnessing innovation at a rapid pace, especially in Artificial Intelligence (AI) through machine learning and deep learning capabilities. Both leading and emerging participants in this space are strongly competing to secure a customer base and maximise their revenue potential. This study identifies the top AI applications in the homes & buildings industry offering growth opportunities to participants in different verticals and countries. It also highlights the top AI solution providers that contribute more than 95% of the market revenue and the companies to watch (as they have the potential to change the industry dynamics going forward). Frost & Sullivan estimates the value generated by AI in the homes & buildings industry at $6.08 billion in 2020.
The study focusses on the impact of AI on the homes & buildings industry, defines the role of AI in home and building applications, and highlights the opportunities for stakeholders in the industry. The main purpose of the study is to analyse the current and future AI-based applications in the homes & buildings industry. The study performs a Growth Opportunity Assessment exercise by evaluating critical attributes to assess the Market Readiness and Future Industry Value of AI applications in the homes & buildings industry. The study also presents a high-level market overview and the investments trends for AI applications across industries. It additionally provides quantification of the value generated by AI for customers as well as estimated and forecast AI revenue in this industry. The study summarises key market findings, strategic imperatives, leading AI solution provider profiles, and top AI applications in the homes & buildings industry. Although Frost & Sullivan recognises smart speakers as AI products, their revenue has not been included in the revenue forecast section as the definition of AI in homes and buildings requires a product or solution to recognise the energy consumption pattern and autonomously optimise building systems based on machine learning or deep learning algorithms for improved performance.
The study discusses the top AI applications as well as the leading companies that offer these solutions and have performed well in 2019. It further highlights the companies to watch out for in the next few years based on their growth and innovation. The companies considered for the assessment include Siemens, Honeywell, Signify, Acuity Brands, Google, Amazon, EcoEnergy Insights, FogHorn, 75F, Xiaomi, BrainBox AI, BuildingIQ, Velux, Sense, Energy Curb, Google Nest, Smappee, Vattenfall, and PointGrab.
KEY ISSUES ADDRESSED
What are the top 10 application areas in the homes & buildings industry that have the potential for innovation using AI?
What are the companies that offer cutting-edge AI-based solutions in the homes & buildings industry?
What are the global AI investment trends, AI index, and spend potential for AI applications by country and industry?
What are the immediate and long-term growth opportunities for stakeholders in the homes & buildings industry?
What are the challenges and strategic imperatives for implementing AI applications in the homes & buildings industry?
How much data is currently generated in the homes & buildings industry? How much value does AI generate for its customers?
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