Friday, March 29, 2024
YOU ARE AT:Business NewsCEDIA Reveals Home Technology Industry Now Exceeds $20 Billion

CEDIA Reveals Home Technology Industry Now Exceeds $20 Billion

CEDIA released the Integrated Home Market Analysis in partnership with marketing firm Ancrage Consulting, LLC. 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. Some objectives include the size of integrated home technology and project size.

“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 and many important data points available to CEDIA members.”

One of the critical strategic benefits 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 toward continued stability and growth. 

Key findings:

Unlock all the Content
Takes only seconds to register
Invalid email address
  • Based on average annual revenue and project frequency, the integrated home market in the U.S. has an estimated value of $20.1B
  • Approximately 11,000 integrator companies operate in the U.S. with average annual revenue of $2.2M and an average project size of $26K
  • Residential projects constitute 83% of revenue, on average
  • The average integration company employs 11 people and completes 70 projects per year
  • Most integration companies anticipate adding a technical staff member in the next 12 months
  • Categories experiencing the most growth include lighting/shading, lighting control, and networking
  • Homeowners are shifting toward streaming and “simpler” solutions
  • 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 U.S. and U.K. is free to download for CEDIA members in the Research Library. Non-members may purchase a copy of the report for $1,000.

Check out CEDIA’s website to learn more about the analysis.

AVNATION IS SUPPORTED BY

- Advertisement -

POPULAR

Enterprise Connect 24 entrance

Enterprise Connect Day 2

0
Microsoft and Cisco both featured keynotes that laid out each company’s plans for AI in the workplace. We’ll get into each below. We also...

AVNATION IS ALSO SUPPORTED BY

- Advertisement -

More Articles Like This