On 10th October 2023, Honeywell announced plans to realign its business segments around three megatrends: automation, the future of aviation, and energy transition. This Research Note focuses on what this means for the smart buildings market. The US conglomerate’s perspective for organic and inorganic growth was further highlighted on a 1st December webcast, together with the subsequent announcement on 8th December that its Building Automation business would acquire Carrier’s Global Access Solutions. The reorganized reporting structure is intended to enable a simpler, stronger strategic focus, to deliver accelerated organic sales growth and inorganic capital deployment, creating greater value for shareholders. The new segmentation will take effect beginning the first quarter of 2024. Honeywell Strategy and Portfolio Update, 10th October 2023 Honeywell Building Automation The realigned Building Automation business segment accounts for 17% of 2022 group revenues, which equates to the former Honeywell Building Technologies business, we examined here. Through hardware, software, sensors, and analytics, Honeywell […]
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