According to the NSCA Electronic Systems Outlook, total U.S. engineering and construction spending is forecast to end 2022 up 9%.
NSCA recently updated its biannual Electronic Systems Outlook report for Summer 2022. It includes construction-outlook information for U.S. and Canada based on actual data from Q1/22 and Q2/22. What’s more, it offers a forecast for the remainder of 2022, 2023 and beyond. NSCA is, of course, the not-for-profit association representing the commercial integration industry.
Let’s look at the data. Overall, total U.S. engineering and construction spending is forecast to end 2022 up 9%, as compared to up 8% in 2021.
Electronic Systems Outlook Offers Updated View
The Electronic Systems Outlook Summer 2022 edition provides an updated view of all of the following:
- 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 that this report contains helps integrators adjust their sales and marketing strategies. After all, when integrators understand the most recent construction put-in-place totals, it helps them stay on top of slowdowns, recoveries and market/geographic changes.
According to NSCA’s executive director, Tom LeBlanc, “The report reveals that short-term commercial construction activity will be upheld by recent economic expansion, but contraction is anticipated down the road….” That, therefore, might weigh on future industry growth. He continues, “Integrators will find this data helpful in the early stages of design.”
LeBlanc also offers a useful suggestion: 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.
NSCA, of course, knows that new construction is the best indicator of the future business climate for integrators. Thus, the association has followed and reported on industry conditions for more than two decades. NSCA initially established the Electronic Systems Outlook report as a response to member questions about market conditions and trends. Accordingly, it outlines vertical-market outlooks, construction-outlook summaries and technology/systems outlooks in specific markets.
NSCA’s Electronic Systems Outlook Summer 2022 report is free for NSCA members to download.