NECA President David Long has articulated his 1025 vision for NECA. The goal is to increase market share by 10 percentage points by 2025. NECA Members’ market share has been hovering in the 35% to 43% range for a long time. Growing by 10% by 2025, is a more than 33% increase in 7 years. To achieve that level of growth, we have to not only be price competitive, productive and efficient, we also have to continue finding ways to add value and attract new talent. That means greater and deeper services centered around BIM, prefabrication, service & maintenance, D/B, IPD, energy project finance, energy efficiency, renewables, distributed generation, energy storage, low voltage and Internet of Things (IoT) work. The list, of course, is not all inclusive; which means the future is very bright for those companies willing to try new things.
Focusing for a moment on just the opportunity represented by IoT, NECA’s Associate Director of Research, Amanda Harbison, was tasked with investigating what the internet of things means for electrical contractors. The research is preliminary, but the numbers and forecast are truly mind-boggling. Click here to download the presentation.