DALLAS, Feb. 2, 2022 /PRNewswire/ — 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 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.
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About Parks Associates:
Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.
The company’s expertise includes home security, home automation and controls, digital media and platforms, gaming, broadband and home networks, OTT and pay-TV services, health, wellness, and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.
Each year, Parks Associates hosts industry webinars, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com
SOURCE Parks Associates