December 18, 2013 — Article
CEDIA has announced the findings of its second extensive survey into the UK residential custom installation sector. The results show an industry anticipating healthy annual growth in turnover this year. As a member of CEDIA for 8 years, Cinenow.com has reproduced below the integral text of the summary of the CEDIA Survey, including some interesting figures, as we think this good news should be heard loud and clear! The complete market research report will be available in January and can be purchased directly from CEDIA.
According to the research, the outlook is positive for the industry – with average projected turnover for CI companies in 2013 looking to exceed the reported £1m in 2012. Another significant finding showed that in 2013 the number of individuals employed as HTP’s in the UK has increased 12% year-on-year to over 11,2501. The growth of a skilled labour force points to greater market confidence and higher 2013 sales for the residential custom installation industry as a whole.
“The research presents a positive outlook for the CI industry, demonstrating that we are steadily growing and creating new jobs within the sector. As we’ve recently come out of a long period of recession, the results paint a promising picture of growth, expansion and employment opportunities,” says CEDIA’s Executive Director in Region 1, Wendy Griffiths. “This in-depth market research is significant for our sector and has become an annual barometer for the state of the industry. It’s an essential tool to help those expanding and investing in their businesses, and is proof of the exciting opportunities that exist in the residential CI sector”.
This comprehensive research project, commissioned by CEDIA Region 1, was carried out by international market research company, Parks Associates from July until October this year. Around a quarter of the industry took part in the survey.
Other findings in the survey included:
A full copy of the UK market research report will be available in January 2014. The full report is free to those CEDIA member companies who contributed to the survey and priced at £299.00 to CEDIA members and £599.00 to non-members. A free abridged version of the report is automatically available to all CEDIA members and non-members who participated in the survey. Please email firstname.lastname@example.org for details.
CEDIA plans to repeat the UK survey in 2014.
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.
1 From 10,000 individuals employed as HTP’s in 2012 in the UK