At CEDIA Expo 2024, we continued the recent tradition of kicking off the Smart Stage with a “State of the Industry” panel session featuring CEDIA Global President & CEO Daryl Friedman and leaders of the major buying groups.
Again, I was privileged to moderate the session, which in addition to Friedman enlisted HTSA’s Jon Robbins; Patrick McCarthy, Azione Unlimited’s newly appointed director; Jim Pearse of ProSource; Oasys Residential Technology Group’s Hank Alexander; and Ellipsys Commercial Technology Group’s Chris Whitley.
Among many other topics discussed on the panel, here is some of what they had to say as we were heading down the stretch of 2024.
What the Experts Are Saying
DARYL FRIEDMAN: “I think last year I said an 8 [when asked for a 1-10 scale], I was very bullish and I still am, just going to knock it down a notch to 7. I’m hearing from some of our members that it’s softening a little bit but they’re still plenty busy. It’s a robust environment and I think with some of the things CEDIA’s doing we can get it up to 9 or 10.”
JON ROBBINS: “The first quarter was very concerning. It was probably the first we’ve had in a long time that was single digits off in purchases and I thought we were looking at a climb for the rest of the year. July’s numbers actually brought it back and exceeded year-to-date in purchases. Our [sales] pipes look full, so I’m going to go 8 or borderline 9.”
HANK ALEXANDER: “I would go a solid 8, maybe 8.5. The first half of the year was a little rough, it’s gotten a little bit better. When we talk to our members, we hear that the pipeline is getting better actually, and the back half of the year is looking better so I think we’re being more bullish about it.”
CHRIS WHITLEY: “People are doing well … I would say the outlook is an 8 for 2025. What a lot of members are telling us is that the pipeline is a little soft into the first quarter but they’re seeing large opportunities in first and second quarter for [2025] — many of those capital projects got put on hold but are coming back.”
JIM PEARSE: “Overall it’s a positive comp [to 2023], which is good, we have to fight really hard to be positive in this environment. The middle market is really struggling with low housing starts; however, the CI space continues to explode at the high end and is offsetting that tight business in the mid-market.”
PATRICK MCCARTHY: “I think it depends on who you ask. We have some dealers who might say they’re a solid 5 and are worried and then we have some solid 9s out there, they were looking at their June numbers and saying they’re up 20%. You talk to the vendors and those on the high end are having an amazing year.”
As we move into 2025, what would you rate your company’s health? Do your expectations match up with the state of the industry today?
