Let’s kick off with a report form Commercial Integrator. This pub focuses on those doing AV integration… so very much related to IT services these days.
Their 2021 State of the Industry report shows three things.
- Profits did take a hit, but not as badly as one might expect.
- Those integrators are not too worried about COVID in 2021
- And, a good portion of that industry pivoted. New products, markets, and expansion of services kept the industry afloat.
Also of note – the quote “establishment of some recurring revenue through service contracts”.
Why do we care?
It’s that last item that caused my ears to perk up. I follow this industry both because it’s ancillary to the IT services one, and because I like it. I’m an AV geek at heart. More importantly, this industry has found the recurring revenue bug.
It makes sense – for all the reasons IT services likes it, and adding that AV gear is now connected. Everything with an IP address also means AV gear too.
So, here’s an ancillary industry to be aware of at minimum. In the middle might be partnership opportunities, and for a select group perhaps new offerings. With the emphasis on virtual work, AV gear is going to matter. So don’t be surprised to find someone else in your customer base.
Source: Commercial Integrator