Key finding indicate strong signs of growth and a willingness to adapt to challenges amongst dealers in the residential electronic systems market
INDIANAPOLIS (September 5, 2012) - The Custom Electronic Design & Installation Association (CEDIA) has released key findings from CEDIA's annual market research report -Size and Scope of the Residential Electronic Systems Market in the US©. The report is a part of CEDIA's research offerings, which are designed to provide CEDIA members, industry businesses, and other key stakeholders with market data that will enable them to make better business decisions.
The report features data on the characteristics of companies working within the residential electronics systems industry in the U.S., revealing the current number of installation companies in the industry, the size of the workforce, trends, forecasts, and the economic impact of the industry.
The key findings from CEDIA's Size and Scope of the Residential Electronic Systems Market in the US© reveals:
*The Electronic Systems Contractors (ESCs) expect a 5% gross revenue increase and a 17% increase in the number of projects in 2012 compared to 2011.
*Revenues for the installation segment of the industry are trending up as a whole, from $13B-$14B in 2010 to an anticipated $13.8B - $14.8B.
ESCs also report a greater percentage of projects in existing homes (versus new construction) than ever before, while indicating that they are growing, adapting, and expanding into new product and service offerings.
"I think what is important to note here is that, with a housing market that is still unstable and an economy that is very slowly improving, ESCs are learning to adapt and overcome challenges for prosperity in a changed and constantly evolving market," said Erica Shonkwiler, CEDIA Market Research Manager. "The growth, which is hinged on consumer confidence, may be small, but it is also steady and much more sustainable in the long-term."
CEDIA members and media can request top-level findings by emailing email@example.com In addition to this report, CEDIA recently released its sixth annual Benchmarking Survey Report, which evaluates the state of the CEDIA member electronic systems contractor businesses.
Research updates, project details, and report availability will be posted at www.cedia.net/research. Questions about CEDIA's research initiatives can be directed to CEDIA Market Research Manager Erica Shonkwiler at firstname.lastname@example.org.
CEDIA is an international trade association of companies that specialize in designing and installing electronic systems for the home. The association was founded in September 1989 and has more than 3,500 member companies worldwide. CEDIA members are established and insured businesses with bona fide qualifications and experience in this specialized field. For more information on CEDIA, visit the association's Web site at www.cedia.net.