U.S. New Construction Spending Estimated to Be Up 15% By the End of 2023

NSCA, a non-profit association representing the commercial integration industry, updated its Electronic Systems Outlook report for Summer 2023. The report gives new construction outlook information for America and Canada based on data from Q1 and Q2 of 2023 and predicts the rest of 2023 as well as 2024 and following. The association predicts that engineering and new construction spending will end 2023 up 3% compared to up 11% in 2022. Spending in target nonresidential building segments (i.e. corporations, education, government, etc) is forecasted to end 2023 up 15% from 2022.

In NSCA’s Electronic Systems Outlook, the report also gives an updated view of in-demand technologies and where growth is happening, top markets for renovation and new construction, focused sales approaches, and the potential for new business opportunities. The information provided in the Electronic Systems Outlook can help integrators adjust their sales and marketing strategies.

Tom LeBlanc, NSCA’s Executive Director, states, “For the first time in many years, no targeted segments are predicted to have a ‘down’ year. Instead, nearly all are expected to realize investment growth exceeding 4%, which outpaces historical rates of inflation by year-end.”