Press releases and articles
CEDIA 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.”
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.