NSCA announced that it has updated its biannual Electronic Systems Outlook report for Summer 2022, which includes construction outlook information for the United States and Canada based on actual data from Q1 and Q2 of 2022 as well as a forecast for the remainder of 2022, 2023, and beyond.
Overall, total U.S. engineering and construction spending is forecast to end 2022 up 9 percent compared to up 8 percent in 2021. The Electronic Systems Outlook Summer 2022 edition also provides an updated view of:
— Top markets for renovation and new construction
— Construction forecasts for 2022 and beyond
— In-demand technologies and where that growth is occurring
— Focused sales approaches
— New business opportunity potential
The information in the report is designed to help integrators adjust their sales and marketing strategies. Understanding the most recent construction put-in-place totals can help in staying on top of slowdowns, recoveries, and market/geographic changes.
“The report reveals that short-term commercial construction activity will be upheld by recent economic expansion, but contraction is anticipated down the road, which may weigh on future industry growth,” says NSCA executive director Tom LeBlanc. “Integrators will find this data helpful in the early stages of design. Consider using the ‘percentage of total vertical market construction’ averages as a starting point in client discussions, tracking how their local marketplace compares to national averages.”
The Electronic Systems Outlook report was initially established as a response to member questions about market conditions and trends, outlining vertical market outlooks, construction outlook summaries, and technology/systems outlooks in specific markets. The report is free for NSCA members to download.
