IIDA announces its inaugural IIDA Index, an analysis of economic health for the commercial design industry.
An industry first, the Index, developed with Designer Pages, was created to enable commercial design and architecture firms to assess competitive positions, identify market trends, and analyze new business opportunities based on project scale, geography and market sector.
The results, which compare project starts in 2017 to 2016, are based on responses from participating firms in 74 offices and nearly 11,000 of their projects across the U.S. The diverse group ranges from small boutique firms to some of the largest in the country. IIDA Members and non-members may purchase access to the IIDA Index Report, while the participating firms have exclusive access to an online dashboard that provides benchmarking information in more detail.
Project data is represented by a diffusion index that assesses growth using a neutral indicator of 50. A value above 50 indicates expansion; a value below 50 indicates contraction. The Index categorizes projects by region, project size, and market sector, including Education, Healthcare, Hospitality, Workplace, and Everything Else (defined as all other commercial projects).
According to the Report, the commercial interior design industry experienced moderate to steady growth in 2017 compared to 2016, with an overall index of 59 in the U.S. Additional key results include:
“We’re pleased to provide the architecture and design communities the unique opportunity to leverage the Index to draw comparisons, make informed business decisions, and ultimately shape the future of our industry,” said IIDA Executive Vice President and CEO Cheryl S. Durst, Hon. FIIDA. “In addition to providing valuable insight to industry firms, the results serve to underscore the strength and dynamism of the commercial interior design industry more broadly.”
Viewing the Index data in the context of U.S. financial indicators further confirms the commercial interior design industry is growing at a steady rate. Real Gross Domestic Product (GDP) for 2017 increased 2.3% and the index value for all market segments is 59, which indicates that growth in commercial interiors exceeded GDP in 2017.
“The IIDA Index is a useful resource for all professionals related to commercial interiors, including facility managers,” says John Czarnecki, Hon. IIDA, Deputy Director and Senior Vice President of IIDA. “For the first time, we are able to gauge economic health specific to commercial interior design. Armed with an understanding of the industry nationally and regionally, facility management firms can strategically plan for areas of growth by both geography and project type.”
To purchase the full report ($50 IIDA Members, $125 non-members), please visit iida.org/iidaindex. Firms interested in participating in the next IIDA Index should visit aboutindex.iida.org or email firstname.lastname@example.org for more information.