Following the technology integrator survey that was conducted in 2017, CEDIA has launched the report that looks at the trends and services in the home technology market. The results show an industry anticipating healthy annual growth in turnover this year.
CEDIA partnered with market research company, Futuresource, to conduct comprehensive research into the UK professional smart home market. CEDIA invited both members and non-members to take part in the survey, which included 76 questions focussing on business functions, installation types, equipment choices, the size of the workforce, and the areas that are most important for their businesses.
“We are pleased to announce the results of our research project,” commented Matt Nimmons, managing director of CEDIA EMEA. “This extensive survey provides the industry with strong comparative data and has helped to identify vital market trends and offer a greater understanding of the UK smart home market. The findings for 2016 – 2017 show that our industry is extremely prosperous, as well as providing insight into future changes and likely developments moving forwards.”
Key findings include:
• Average total gross annual turnover per installation company was £1.3m in 2016, up by 33% on 2012. Participants projected this to rise by a further 17% in 2017.
• Integrators report growth in the higher value projects as a share of their business. Projects costing £50K or more accounted for 26% of projects in 2016, compared to 19% in 2013.
• In contrast, installations £3K or below have fallen by one-third. In 2013, projects of this size represented 18% of all residential installations. In 2016, this shrunk to 12% and in 2017, it is expected to be 7%.
• There has been a surge in the number of projects that include security systems. The average number of projects completed by integrators per year involving security has doubled since 2013.
• Installation companies are increasingly offering maintenance and aftercare. Already 77% offer this, and nearly three-quarters of the remainder expect to add this to their portfolio within two years.
• There has been a rapid uptake and popularisation of voice control installations — almost 4 in 10 companies have installed these systems in the past year and integrators expect this to grow to as many as 8 in 10 companies within the next two years.
The full market research report is free to CEDIA and £499.00 to non-members. A free abridged version of the report is also available to non-members who participated in the survey. To purchase the reports, please visit www.cedia.co.uk/research
To find out more about CEDIA, visit stand: 1-E20 at ISE 2018.