The challenges 2020 delivered, however, wouldn’t be evident just by looking at revenue figures. This year’s Top 40 reported combined electrical design revenues for 2020 that were 4.8% higher ($2.301 billion) than those reported by last year’s group for 2019 ($2.195 billion). And while 17 firms reported revenue declines from 2019, a nearly equal number reported growth. That apparent disconnect — revenues being up despite a broad business slowdown — is probably best explained by revenue booking flow.
Scratch the surface, though, and a clearer picture comes to light from the survey: The full impact of the pandemic year of 2020 on business activity likely won’t be fully revealed until 2021’s electrical design revenue is long in the books. The year 2021 is shaping up to one of recovery and reset, possibly even to a market that rebounds and then some, but almost surely to one that will be navigated a bit differently.
