Research report IoT and Automation in Multifamily Housing: Players and Market Growth addresses transformation in multifamily properties and MDU market

DALLAS, Nov. 7, 2023 /PRNewswire/ — 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.

To request data or an interview, contact Mindi Sue at [email protected] 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. http://www.parksassociates.com

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Contact:
Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.996.0212
368195@email4pr.com

SOURCE Parks Associates