D-Tools has published its first-ever industry health report titled the D-Tools 2023 Midyear Market Health Report. Going forward, Data by D-Tools’ reports will deliver timely, accurate, and actionable business intelligence to stakeholders in the residential systems, commercial AV, and commercial security industries on a regular basis.
The D-Tools 2023 Midyear Market Health Report examines several key metrics from the residential custom electronics industry for the first six months of 2023 versus the first half of last year. The data analyzed was extracted from nearly 100,000 project proposals created by integrators using D-Tools Cloud, the company’s comprehensive Software as a Service (SaaS) business management software. The research reveals that the average residential custom integration firm had revenues fall by an average of 5.2 percent in the first half of the year, with month-by-month tracking showing that the market is following a similar pattern to the overall U.S. economy.
“The D-Tools 2023 Midyear Market Health Report offers the industry a valuable snapshot of how the year is progressing to date in 2023 for both suppliers and integrators,” says Jason Knott, data solutions architect & evangelist, Data by D-Tools. “There are several interesting and somewhat surprising data points in the report.”
Among the other important metrics tracked in the report include average number of proposals, closing rate, and project size. Other data examines the product-versus-labor mix, the amount of value engineering taking place, and the top equipment categories installed.
“The industry’s rapid adoption of D-Tools Cloud enables D-Tools to deliver valuable insights that stakeholders — integrators, manufacturers, distributors, buying groups, etc. — can use to track key industry health markers and critical trends within the custom installation market,” says Randy Stearns, D-Tools CEO. “This 2023 D-Tools Midyear Market Health Report is the first installment of what will become a series of studies aimed at helping industry players adapt to changing market dynamics and plan for the future.”
Every report from Data by D-Tools will not only report findings, but also offer recommended actions that custom integrators can take based on the research. The 2023 Midyear Market Health Report is available as a free download in the Resource Center.
For more information, visit www.d-tools.com.