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Why MDUs Are Helping Expand the Smart Home Market

Parks Associates estimates that 30% (36 million households) of U.S. broadband households live in MDUs, 66% (79.5 million households) live in single-family homes and 4% (4.8 million households) report other kinds of accommodations.

Parks Associates follows the MDU category closely and has observed several interesting insights about this market. First, the research firm shows that 43% of MDU residents owned smart home devices in 2020, compared to 30% in 2019.

The importance of the smart home category and how it’s influencing the MDU market cannot be underestimated. Recent Parks Associates findings report that 40% of MDU renters are interested in “bulk” Internet service bundled with their rent. Parks Associates also found that 41% of all MDU broadband households owning at least one smart home device, compared to 34% of single-family households.

Unquestionably, this data underscores that today’s homes are dependent now, more than ever before, on connectivity and technology. MDU developers and builders recognize that this trend has been ongoing for several years. ADT Multifamily and Tuya Smart are just two companies looking to leverage the $1.9 billion in annual incremental rental and services revenue that Parks Research expects to be generated by MDU-based smart home capabilities.

From the article "Why MDUs Are Helping Expand the Smart Home Market" by CE Pro Editors. 

Previously In The News

26% Own A Smart Device, 53% Installed It Themselves

The study, by Parks Associates, found that more than a quarter (26%) of U.S. broadband households own at least one smart home device, such as smart thermostat, video doorbell or smart door lock. Of...

Consumers Tapping Voice Assistants To Buy More Things

The smart speaker is turning out to be one of the most significant of smart-home devices. Already, 26% of U.S. broadband households own at least one smart home device and household penetration of smar...

Sales Of Emergency Devices For Elderly Grow, But 'Can't Get Up' Too Much

Marketers do see an uptick. Parks Associates estimates that over 10% of the 65+ population will own a PERS system by 2021, and that figure will jump to 15% for seniors 75 and over. By that year, more...

Smart Home Devices Working Together Tops Brand Loyalty

This matters, since about a third (32%) of U.S. broadband households already own at least one connected device and a whopping 50% of households intend to purchase one in the next year, according to th...

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