The typical custom installation company grew revenues by 11.4 percent last year, the biggest gain since 2015. This increase continues a streak of six consecutive years of revenue growth for smart-home installers following the devasting Great Recession from 2009 to 2011.
The results of the 2018 State of the Industry Study reveals that many of the same market dynamics seen by last year's study are still there, but at even greater levels. For example, last year the study referenced that the Dow Jones Industrial Average was hitting it's all-time high at 19,200. Who could have guessed that just one year later the stock market would reach 24,200!
Besides the stock market growth, other positive factors for the industry include:
- continued low unemployment
- rising housing starts
- increasing home equity
- elevated consumer awareness (think voice control and Internet of Things)
Of course, everything is not perfect (nor will it ever be). Integrators still face challenges like:
- continuing margin erosion
- increasing competition
- huge lack of manpower
The outlook is strong. Learn how to benefit from it in CE Pro’s 2018 State of the Industry Report. Download it today.