CE Pro State of the Industry Study: How Did the Custom Integration Channel Fare in 2023?
It’s no coincidence that last year Emerald introduced the co-located Commercial Integrator Expo into the mix as an inaugural co-located tradeshow with the annual CEDIA Expo. While the commercial market took a hit during the pandemic and thereafter struggled as corporate offices became more sparsely populated due to hybrid workplaces, the situation is steadily returning to pre-Covid times when light commercial/resimercial emerged as strong opportunities for residential dealers.
That was one of the key themes revealed in CE Pro’s annual State of the Industry study, in which surveyed integrators reported median revenues of $1,107,143 that were split between two-thirds earnings from residential work and one-third commercial jobs. That adds up to a solid $350K coming from commercial work in addition to the roughly $750K from residential projects, factoring installation, labor, and service revenues for each market.
It also represents a dip from 74% to 68% in terms of percentage of revenue generated from bread-and-butter residential projects. On the commercial/resimercial side, custom integrators are also branching out in their vertical market diversification. Retail and government jobs gained traction last year, for instance, and the percentage of dealers doing commercial work increased by 13%, including 9% in new construction commercial jobs.
That is just one of the many nuggets of data provided in our free downloadable State of the Industry report. In it, you will also learn:
-What did integrators earn as median income in 2023?
-What is their growth outlook for 2024 revenues?
-Which technology categories are growing the most?
-Where are they garnering the biggest recurring revenue opportunities?
-How much is median project size?
-What are CE Pro’s 5 Top Technologies to Watch in 2024?
-and much more!
Download this year’s State of the Industry report by filling out the form below!
