Study: Home Technology Industry Now Exceeds $20 Billion
CEDIA, the global trade association for the home technology industry, recently released the Integrated Home Market Analysis in partnership with leading market research firm, Ancrage Consulting LLC. The results highlight the strength and stability of the estimated $20.1B integrated home market.
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."
Key findings:
- 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 an 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