Inside the UK Smart Home Analysis

Why did we conduct this research? What should an integrator be able to do differently after reading it?

Well, about a year ago, Cedia's leadership made the strategic decision that the association should become the leading source for market intelligence in the smart home industry.

Now, they recognize that reliable data on market trends brand preferences, business performance was valuable not only to CDM members, but to the industry overall.

And so they created the research department here.

And the first big question that everybody in the industry seemed to have was, what is the size of the market? How many integrators are out there? Such a fundamental question.

that key players in the industry weren't sure about.

And they were looking to Cedia for that answer.

Now, Cedia had done research in the past, but with the consolidation of all projects under one department, bringing in myself, a new director of research, we were able to really tackle those questions head on.

And for the UK, I think we conducted the most solid, well-researched examination of the market size to date.

And as to what an integrator can do differently, our hope is that they can look at this data, they can see where obstacles may be in the path to their business growth, they can see where the opportunities are, and they'll be able to see just what the market looks like overall.

Everybody tends to look at their own little world.

This will hopefully provide a broader view.

You know, they'll be able to see the entire forest instead of just the trees and be able to help grow their businesses that way.

Nice.

I love that.

Well, as that was the big headline question that everyone's asking, let's talk about exactly that.

How big is the UK market? What does that look like from a size and a scope perspective?

Well, between CD and Farnsworth, we have estimated that the UK market is $2.2 billion annually.

Now, as I mentioned, CD has done research in the past and the previous UK study put the estimate at around four, 4.1 billion.

So we have, our estimate is, is smaller, much smaller.

Now I want to let everybody know that the market didn't collapse.

There wasn't as massive drop-off in business.

It's just that with our revised methodology, looking at all the different data sources combined together, we feel this was a more accurate representation of what the market size should have always been.

Yeah, and a lot of that's about how we just define that, right? So if we take electricians who are doing some of these installs, if we take, you know, the builders who might be doing some of these installs, I think what we did here, Ryan, is we really refined who it was that we were identifying as the installer and the integrator.

And I think that helped make that number a lot better.