One of the key strategic benefits that the Custom Electronics Design & Installation Association (CEDIA) offers to home technology integrators is market research that allows them to quickly size the market, understand trends, benchmark to peers, and steer their businesses in the direction of continued stability and growth. As consumers continue establishing and adjusting to these new norms, CEDIA gathers first-hand insight from integrators to accurately paint a picture of the industry at large.
CEDIA’s annual 2021 Integrated Home Market Analysis Survey confirms that current industry strength is bolstered by consumers’ investment in their homes. Respondents were surveyed online from August to October 2021 and asked to report on revenue figures from the last 12 months and provide projections for 2022. Objectives include the size of the integrated home industry, areas of expenditure, project size and frequency, specified brands by category, and latest trends.
"As consumers focused on improving and connecting their lives at home, growth in the smart home sector was significant," says CEDIA Global President and CEO Daryl Friedman. "The past two years have allowed us all to see the potential of our homes as the hub for entertainment, education, work, and wellness. Our latest study confirms these top-line findings, as well as many important data points available to CEDIA members."
Results of the survey revealed that, based on average annual revenue and project frequency, the integrated home market in the US has an estimated value of $20.1B. Approximately 11,000 integrator companies operate in the US with an average annual revenue of $2.2M and an average project size of $26K. Residential projects constitute 83% of revenue, on average, while the average integration company employs 11 people and completes 70 projects per year.
Most integration companies in the CEDIA space also anticipate adding a technical staff member in the next 12 months. Categories experiencing the most growth include lighting/shading, lighting control, and networking, which reveals the increasing importance of home automation and smart home integration. On the other hand, the survey also reveals that homeowners are shifting toward streaming and “simpler” solutions, and that the DIY trend continues to add pressure to this market, though not enough to thwart the bullish growth projected for the next 12 months.
The 2021 CEDIA Home Market Analysis for the US (and also a dedicated version for the UK market) is free to download for CEDIA members in the Research Library. Non-members may purchase a copy of the report for $1,000.
www.cedia.net
