NSCA, a not-for-profit association representing the commercial low-voltage electronic systems industry, announced the release of its Electronic Systems Outlook Winter 2021 report. This research includes information based upon actual data from January through November 2021, as well as forecasted information for 2022 and beyond.
NSCA partnered with FMI to provide this biannual 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 2022 and years to come. Total U.S. engineering and construction spending is forecast to end 2021 up eight percent compared to up six percent in 2020, led primarily by residential.
For 2022, FMI forecasts five percent growth in engineering and construction spending levels compared to 2021. The Electronic Systems Outlook Winter 2021 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.
“We’re seeing an economy that should continue to improve in 2022 — despite a resurgence in COVID-19,” said NSCA Executive Director Tom LeBlanc. “Integrators will be challenged, however, by the unpredictability of consumer confidence in their respective markets. But the Conference Board is seeing consumer confidence trend upward as this report is released. We recommend that integration companies use this time to emphasize backend operations and ensure profitability.”
During the Business & Leadership Conference on Feb. 23-25, 2022, in Irving, Texas, Chris Kuehl — chief economist and managing partner for a firm that provides forecasts and strategic guidance — will use the Electronic Systems Outlook Winter 2021 report to analyze long-term trends, current conditions, and the economic outlook for 2022 and beyond.
In addition, NSCA will host a free, one-hour webinar on Feb. 15, 2022, which walks integrators through the top 10 takeaways from the report’s data and how to apply this information to their own businesses.
The Electronic Systems Outlook is free for NSCA members. For more information about the Electronic Systems Outlook Winter 2021 report, to see a preview of the report, or to join NSCA, visit www.nsca.org.
