Apartments, student housing, and senior living a hot target for smart home solutions 

Parks Associates’ new research, Smart Home Opportunities in Multifamily Properties, finds 27% of multi-dwelling unit (MDU) residents have a smart device provided by their landlord or property owner and the overwhelming majority value the safety and security benefits of these solutions. Of those with property-provided smart home devices, 64% value the notifications they receive about safety issues, and 62% find valuable the ability to monitor activity outside their door.

The research,based on a nationwide survey of more than 3,300 US internet MDU households, quantifies the appeal of smart home use cases, adoption drivers and barriers, the relative importance of smart technology as an amenity, and expectations for its impact on monthly rent.

“MDU households, including residents in apartments, student housing, or senior living facilities, already outpace single-family households in smart home device ownership,” said Elizabeth Parks, President & CMO, Parks Associates. “One-half of consumers who have property-provided devices use them daily, so many stakeholders will find a receptive market in MDUs. New investments to improve onboarding and the user and property management experiences will further heat up this sector.”

The multifamily smart home market is in the early stages and increasingly competitive. The research study explores consumer preferences for the smart apartment user experience by device category, such as access control devices, smart thermostats, smart lighting, and smart appliances.

For more information on Quantified Consumer: Smart Home Opportunities in Multifamily Properties, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific data, please contact Rosey Sera at rosey@parksassociates.com or call 972-490-1113.

About Parks Associates

Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.

Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. https://www.parksassociates.com

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