Presenting the CE Pro 100 of 2017
CE Pro presents the CE Pro 100, our annual list of the highest revenue custom installation companies, led by led by Vivint Smart Home, Best Buy and ADT in 2017.
When it is ok to have a “good problem”? The epitome of that oxymoron might be 2017. Times are so good right now that CE Pro 100 integrators, led by Vivint Smart Home, Best Buy and ADT, simply cannot keep up with the market demand.
Indeed, right now:
Consumer confidence just hit a plateau not seen in 16 years.
New home construction is at its highest level since 2007, with 1,288,000 million predicted starts for 2017, tracking 7.5 percent higher vs. 2016. Of those, single-family home starts are up 6.5 percent to an annual rate of 872,000.
The stock market experienced the remarkable “Trump Bump” sky-rocketing the Dow Jones Industrial Average around 21,000, rising 1,000 points in record time.
President Trump’s promised tax reform also has the market salivating over the potential for even more expendable income in consumers’ pockets, along with potential tax breaks for businesses.
Home remodeling spending is pacing along at a 6.7 percent growth clip, according to Harvard’s Joint Center for Housing Studies. Homeowners are expected to spend $317 billion on home upgrades.
Heck, even the much-maligned Millennials are getting into the act. Recent data shows that massive generation is leaping into home ownership. A recent study by Houzz revealed that one in three new home-buyers plans to install home automation in the next 12 months.
The result of this prosperity is a whopping 24 percent increase in revenues among CE Pro 100 integration companies in 2016.
To put it simply, the cumulative revenues of the group equal $2.6 billion.
Check out the CE Pro 100 list of 2017 to see the highest revenue custom installation companies of the year.
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