Commercial Integrator March 2023 - 15

such as healthcare and retail, meanwhile,
look particularly strong.
Takeaways from the Electronic
Systems Outlook Report
What follows are some key takeaways:
› Looking at 2023, FMI forecasts a 2%
decline in engineering and construction
spending levels as compared to 2022.
› A limited number of segments are
expected to end the year with growth
rates between 0% and 4%, which would
be roughly in line with historical rates of
inflation. Those segments include lodging,
offices, education, transportation
and communication. Elevated inflation in
2022 is driving output contraction across
those segments.
› The strongest commercial verticals,
based on construction data, appear to be
healthcare, manufacturing and retail, all
of which are predicted to grow at more
than 5%.
› The healthcare market is looking particularly
strong, forecast to be up 7%. Future
investment is expected to remain strong,
driven by demographic shifts that spur demand
for new facilities and new technologies
that pertain to healthcare services.
This auspicious data on the healthcare vertical
is backed up by what integrators report
in the field. " There is such a drive to improve
patient experience that a lot of money is being
spent, " Ray Bailey, founder and president
of Lone Star Communications (LSC), as well
as president of the NSCA Board of Directors,
says. " You see it in movement of patient
rooms, lobbies [and] expanded visiting
hours. You just see a real push. "
Cautious, but not Disheartening
The data for some other vertical markets
that are popular with commercial
integrators is less optimistic but not
disheartening. The corporate market is
expected to stay stable and see spending
related to reimagining workspaces and
office footprints. However, the report does
indicate that rising unemployment in 2023
is likely to curtail some of the flexible and
hybrid-work models that emerged from
the pandemic.
Although the news isn't all rosy, NSCA
hopes that the report provides valuable
data and analysis to help integrators like
you create reliable projections for the
remainder of the year.
Tom LeBlanc is executive
director of NSCA. Visit
NSCA.org or contact him
at tleblanc@nsca.org to learn about
the benefits of NSCA membership.
NSCA's Electronic
Systems Outlook
is free for NSCA
members to
download. For
more information
about the
Electronic Systems
Outlook report, or to join NSCA and
get a free copy of the report, visit
NSCA.org or call (800) 446-NSCA.
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Commercial Integrator March 2023

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