The 2019 U.S. CEDIA Size and Scope of the Integrated Residential Technology Industry report, which is now available. Free to members, although non-members can purchase the report for $1,000.
Each year, CEDIA undertakes this research to analyze the size of the market and identify market trends. The results provide a glimpse into what integrators are experiencing. For you as a trade supplier, the survey offers specific answers about the customers you serve, the products they use, and the perceptions of different brands.
Our partner, the Farnsworth Group, tracks a host of national economic, demographic, and population data and has used these drivers to inform the results. Limited housing inventory and increasing prices have been a huge driver, creating a “perfect storm” for people to stay in their current homes and remodel features to enhance their lifestyles. The retrofit market will continue to be a strong and growing opportunity for integrators.
Additional points the report revealed include:
- Based on average annual revenue figures and median projects and median revenue figures, the total U.S. Residential Technology Market Size in 2018 is more than $18 billion; an increase from $16.5 billion in 2017
- Average total gross revenue for integration firms increased $400K from 2017 to 2018 with a more modest growth estimate for 2019
- 42% of an integration firm’s residential revenues in 2018 came from new single-family homes, 49 percent from retrofits, and 9 percent from multi-family units
- Whole-home control systems saw a small decline in the average number of installs from 2017 to 2018, but also the biggest jump in per project revenue ($10,000 increase)
- Integrators experienced an 11 percent increase in lighting control projects that included a shading/motorized window treatment installation in 2018
- The average number of full-time employees at companies in 2018 was 12, a number expected to hold in 2019
- Home builders continue to be the number one source of bid requests, followed closely by remodelers