As the smart home industry continues to boom to nearly $30 billion, CEDIA has released a new report that predicts a surge in demand for technical personnel to handle its growth. The Professional Smart Home Market Analysis report reveals that nearly 70% of technology integrator businesses identify “Technical Person” as the top resource they will require in 2024. Individuals with technical training such as Installation Technicians and Service Technicians are going to be the most in demand roles across the industry in 2024.
The latest data from CEDIA indicates that integrator project size and revenue is growing with consumers willing to spend more. The average project for Smart Home integrators across the US last year was between $20,000 and $57,000. In 2023, only 27% of the projects were less than $10,000 and a huge 25% of jobs were over $60,000. Despite the poor current economic climate, growth is still predicted across multiple categories and installation categories.
Jobs in the tech sector across the US are reportedly dropping month on month in 2024 whereas the Smart Home Technology industry is growing at a rapid pace and needs more talent.
The report also identifies that the industry is growing and diversifying with younger with newer businesses and individuals entering the market. Nearly a quarter of businesses have been in the industry less than 5 years. Experience in the industry is still strong however, as 69% of the Smart Home Professionals have been in business more than 10 years.
The Professional Smart Home Market Analysis is a comprehensive report of over 1,000 residential integrators across the US. The analysis looks at and unveils key industry priorities, the size of the integrated home industry, areas of growth and spending as well as future trends and areas of investment.
To support the predicted strong growth expectations, more than two thirds of integrators expect to add technical personnel in the next 12 months, this was the same across companies of all sizes.
The 2023 Professional Smart Home Market Analysis is free to download for CEDIA members from the CEDIA store. Non-members can purchase a copy of the report.
See also: Circana Report Reveals Latest Trends In U.S. Smart Home Ownership
