CEDIA reveals preliminary findings of Size and Scope study
CEDIA predicts that by the end of this year, systems integrators and installers will complete more residential installation projects than in each of the last four years, and their average gross revenues will top $2.5 million, up from $2.2 million in 2014. Overall, it will be the third straight year of growth for the industry.
By comparison, average gross revenues dropped between 2011 and 2012 to just over $1.2 million -- so we're looking at industry twice as strong as it was three years ago.
In a press release, Dave Pedigo, CEDIA’s senior director of learning & emerging technologies, said:
“2015 is not an aberration, it is the continuation of a three-year trend that shows our industry has not only weathered the Great Recession, but is also thriving and creating more opportunities for our members to take on more projects, hire new employees, and grow their businesses. Despite a glut of inexpensive components hitting retail shelves, consumers are selecting new higher-end technologies such as Ultra HD/4K televisions and smart home components that tie their entertainment, lighting, control and security systems together. Our members design and install the systems that meet every consumer’s particular budget and lifestyle.”
The survey found that the most popular projects right now remain home theaters and media rooms, followed by multi-room audio and home automation and control. Added CEDIA, "The total number of projects installers take on, and the average cost, will also both rise for the third straight year. In 2010, the average cost of a home theater installation project was $16,400. In 2015, that average project cost rose to $39,000 – a two-fold increase." The median home theater price systems integrators sold was $16,666 and the median audio installation was $11,000.