CEDIA research gives insight into UK home tech market
The results of a four-month market research programme involving technology integrators have been unveiled by CEDIA to give us a greater understanding of the size and scope of the home technology market in the UK.
Carried out by market research firm, The Farnsworth Group from September 2018 to January 2019, the project outlines the historical, current and forecasted size of the UK market for residential technology systems including home cinemas, media rooms, outdoor entertainment systems, whole home integrated control systems, audio systems, home networking products, and security systems.
The results show that the UK home technology market is sized at being worth just under £700m and includes 1,600 active companies.
Participants of the survey have every confidence in the market with 80 per cent expecting to continue to grow their revenue over the next 12 months.
Stable development can be seen across the sector with both company age and staff numbers growing at a steady rate.
The number of projects is steadily increasing, with home cinema installs resulting in a revenue surge of nine per cent.
The full market research report is available to CEDIA member companies for free and is priced at £499 to non-members. You can purchase or download a copy on CEDIA’s website.