NSCA Winter 2018 Electronic Systems Outlook Indicates 3 Percent Construction Growth Ahead
NSCA’s Electronic Systems Outlook report has been updated for winter 2018. It includes information based upon actual data from January through November 2018, as well as forecasted information for 2019 and beyond.
NSCA partners with FMI to provide this report, which offers the newest, most relevant indicators of business opportunities for integrators. By tracking new construction starts and renovations across multiple markets – including healthcare, lodging, retail, education, houses of worship and more — NSCA pinpoints which verticals should do well in 2019 and years to come. Total U.S. construction spending put in place is expected to end up 5 percent higher in 2018 vs. 2017. In 2019, we forecast a 3 percent increase in total construction spending over 2018.
The Electronic Systems Outlook Winter 2018 edition also provides an updated view of construction data by market for electronic systems/technology, including AV, data/IT, building automation/control, life safety/fire/security and digital signage/lighting.
“This report makes it easier for members to decide where to focus their efforts in specific regions of the country,” says NSCA Executive Director Chuck Wilson. “Primary growth segments in 2019 are expected to include corporate offices, education, government and lodging — all with forecasted growth rates of 5 percent or more.”
Most other segments are likely to grow (roughly with the rate of inflation) and be considered stable. The houses of worship market is the only segment expected to decline in 2019.
At the 21st annual Business & Leadership Conference next month, in what has become an annual tradition, Chris Kuehl — chief economist for several organizations, and managing partner for a firm that provides forecasts and strategic guidance — will use the Electronic Systems Outlook Winter 2018 report to analyze long-term trends, current conditions and the economic outlook for 2019 and beyond.
In addition, NSCA will host a free, one-hour webinar on Feb. 19, 2019, to help integrators learn more about this data and how to apply it to their own businesses. For example, integrators can use the Electronic Systems Outlook to benchmark sales numbers and prepare business valuations. Growth indicators can be used to determine incentive programs, reveal new market potential and appropriately distribute resources. This forecast data can also be shared with financial advisors and lenders to prove the stability of systems integrators in the marketplace.
The Electronic Systems Outlook is free for NSCA members and you can get it here.