Custom Electronic Design & Installation Association (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 research into the UK professional smart home market. CEDIA invited both members and non-members to take part in the survey.
The survey questions focused on business functions, installation types, equipment choices, the size of the workforce, and the areas that are most important for their businesses.
Findings from the survey include:
• Average total gross annual turnover per installation company was £1.3m ($2.3m) in 2016, up by 33 per cent on 2012. Participants projected this to rise by a further 17 per cent in 2017.
• Integrators report growth in the higher value projects as a share of their business. Projects costing £50K ($89K) or more accounted for 26 per cent of projects in 2016, compared to 19 per cent in 2013.
• In contrast, installations £3K ($5.3K) or below have fallen by one-third. In 2013, projects of this size represented 18 per cent of all residential installations. In 2016, this shrunk to 12 per cent and in 2017, it is expected to be 7 per cent.
• 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 per cent 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.