CEDIA SURVEY REVEALS UK RESIDENTIAL CI INDUSTRY SET TO TOP £1 BILLION
CEDIA (the Custom Electronic Design and Installation Association) has announced the findings of its recent extensive survey into the size and scope of the UK residential custom installation sector. The results show an industry anticipating a 12% annual growth in turnover this year and a total market size in excess of £1 billion by the end of 2012.
According to the research, average projected turnover for CI companies in 2012 stands at £1.43m, up from a reported £1.27m in 2011. The market research sized the UK residential custom installation sector as worth from between £720 million and £950 million for 2011, and, based on survey responses, predicted a market value of £1.07 billion for 2012.
“As the UK’s prolonged recession comes to an end, it’s clear that the UK residential custom installation sector is already in a growth phase and poised to expand further in the years ahead,” says CEDIA’s Executive Director in Region 1, Wendy Griffiths. “This well-grounded and detailed market research is extremely important for our sector. It will help inform those growing their companies and investing in CI with the business facts they need to move forward positively and productively as the economic upturn gathers pace.”
This comprehensive research project, commissioned by CEDIA Region 1 (the UK, Europe, Russia and the CIS, Middle East, Africa, India and Pakistan), was carried out by international market research company, Parks Associates from July until September this year. Approximately a quarter of the industry took part in the survey.
Other findings in the survey included:
- The average project price expected for 2012 is £48,000. For 2011, the average project revenue is reported at £40,600.
- 42% of firms said they exclusively completed projects only in the UK; 58% carried out installations worldwide, with the majority taking place in continental Europe.
- Approximately 90% of the UK’s custom installers complete audio/video projects.
- 55% of all projects take place in existing homes and 45% in new-build properties.
- Equipment costs account for approximately half the value of a typical residential contract.
- An estimated 1250 companies are active in the UK residential custom installation sectors.
A full copy of the UK market research report will be available in November 2012. The report is free to those companies who contributed to the survey and priced at £349.00 to CEDIA members and £795.00 to non-members. Please email firstname.lastname@example.org for details.
CEDIA plans to repeat the UK survey in 2013. Meanwhile, the Association has also engaged Parks Associates to undertake a secondary research project which will map the scale of residential custom installation in France, Germany, Italy, Spain and South Africa, countries where CEDIA membership is expanding.
Parks Associates is an internationally recognised market research and consulting company, specialising in emerging consumer technology products and services. CEDIA has worked with Parks Associates since 1998, and the partnership has recently seen the company conduct market research for CEDIA in the U.S. As a result, they understand the sector and are ideally placed to provide high quality results for CEDIA in Region 1.
For more information, please contact:
Matt Nimmons or Jeff Hayward / Alexandra Azrak
Operations Director Wildwood PR Ltd
CEDIA The Stables
Unit 2 Meadow Court
Phoenix Park Faygate Lane
St Neots Faygate
Cambridgeshire West Sussex
PE19 8EP RH12 4SJ
Tel: 01480 213744 Tel: 01293 851115