Commercial Contractor Industry Insights and Trends for 2024

ServiceTitan surveyed more than 1,000 commercial service and construction contractors across the United States, capturing their perspective of the industry's performance in 2023 and how they plan to achieve their goals for 2024.

These findings highlight recent key developments, changes, and sentiment in the industry and provide guidance to contractors for navigating the evolving landscape over the next 12 months and beyond.

Key findings include:

• 39% of respondents expressed optimism for 2024, an increase from 2023

• Key challenges: Labor shortages and overhead costs top the list of primary risks

• 43% of businesses plan to increase investment is sales and marketing activities

• Supply chain challenges continue to be a critical pain point