Smart MDUs: Property-Provided Internet and Smart Devices 2024

The US multifamily market is an increasingly important sector for technology services and products. Parks Associates considers the size of the US smart multifamily market as the foundation of the overall MDU technology market opportunity. Parks Associates’ model is built on the US Census Bureau’s estimates of the overall US housing market and informed by Parks Associates’ consumer and industry studies. This model analyzes the size of the US apartment and condo markets, including drilldowns into property-provided internet and managed Wi-Fi, smart access control, water leak detection, and select resident-facing amenities. Parks Associates also assesses revenues attributed to fees or rent charged to residents, including the property and service provider split.

This document includes key definitions as well as analysts’ insights and assumptions behind the numbers in the accompanying Excel workbook, Smart MDUs: Property-Provided Internet and Smart Devices, 2024.

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