Research report IoT and Automation in Multifamily Housing: Players and Market Growth addresses transformation in multifamily properties and MDU market
IoT and Automation in Multifamily Housing: Players and Market Growth, a new research report from Parks Associates, addresses the current adoption of smart products in multifamily properties and key challenges in servicing this market. It features an overview of leading multifamily market vendors in access control, managed Wi-Fi, and aggregation, including ADT, Boingo, Dwelo, Homebase AI, SmartRent, and more.
The research finds internet, Wi-Fi, and video services generally score highest as valued tech amenities, but 36% of MDU (multidwelling unit) residents consider EV (electric vehicle) charging access as an “important” or “very important” amenity in their next home.
“Demand for EV charging is much higher than current EV penetration – while only 6% of MDU residents currently own an EV, there is significant interest in EV charging among MDU residents,” said Kristen Hanich, Research Director, Parks Associates. “Multifamily properties see a long-term need to support EV charging, given increasing adoption among consumers and several plans among various states throughout the US to phase out new ICE vehicle sales.”
In a Parks Associates survey of MDU residents, low-cost, high-speed, and immediately available internet and Wi-Fi services ranked higher than traditional amenities such as TV services, covered parking, and community pools as key differentiators. Properties are also evaluating their ability to retrofit EV charging into their parking lots, which oftentimes requires a phased approach. A Parks Associates survey of MDU property managers and owners finds 46% of those who own or manage 10 or more units already have an EV charging station at their largest property.
Parks Associates will examine the rise of EVs and their impact on energy management at the upcoming Smart Energy Summit virtual session “Distributed Energy Management,” November 9 at 2 pm CT.
The firm will highlight its multifamily research in the Smart Spaces virtual session “Investment and Expansion in Smart Spaces,” November 30 at 11:00 am CT.
About Parks Associates
Parks Associates is a global research, consulting, and marketing firm with 40 years of experience delivering proprietary consumer data and industry insights for businesses. The firm produces market research reports, forecasts, surveys, and competitive business intelligence on connected consumer, small business, and commercial technologies and related business solutions. A woman-owned and woman-led company, Parks Associates is a trusted partner and advisor to executives, providing custom research, strategic consulting, and forward-looking analysis across smart home, small business, and commercial markets, including security, broadband, entertainment, energy, multifamily, smart buildings, connected health, and emerging AI-driven technologies.
Parks Associates supports industry growth through proprietary research, consulting, and executive networking and convenes thousands of leaders each year through its flagship conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. Learn more at https://www.parksassociates.com.
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