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Market Research Report

Making the Business Case for Smart Home Technologies in Multifamily Housing

Published by Navigant Research Product code 697343
Published Content info 18 Pages; 4 Tables, Charts & Figures
Delivery time: 1-2 business days
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Making the Business Case for Smart Home Technologies in Multifamily Housing
Published: September 7, 2018 Content info: 18 Pages; 4 Tables, Charts & Figures
Description

The concept of a smart home is gaining mindshare among consumers, but connected technologies have been largely targeted toward higher income, single-family households. Multifamily is becoming a more attractive market for connected technologies as stakeholders begin to realize the largely untapped opportunities this vertical has to offer.

Smart home solutions enable property managers to operate their communities more efficiently, earn recurring revenue through higher rent prices, and attract and retain occupants. Consumers are coming to expect that their homes are equipped with digital technologies, whether they are single-family or multifamily households. These factors are driving new business models and applications specific to multifamily, which is expected to see significant growth and technology adoption in the future.

This Navigant Research report examines the business case for smart home technologies in multifamily housing. The study explores the new business models, applications, and opportunities in the multifamily vertical. Three different multifamily business models (product, software subscription, and bundled solution) are compared, with examples provided for each. The report also analyzes the early entrants to the multifamily vertical for smart home technologies that are gaining traction.

Key Questions Addressed:

  • What is driving the emergence of multifamily as a market for smart home technologies?
  • How is this market expected to grow compared to the single-family vertical?
  • What buildingwide applications can smart home technologies enable for property managers?
  • Which business model is best suited for the multifamily vertical?
  • Which companies with smart home tech offerings are the early entrants to the multifamily space?
  • What best practices does Navigant Research recommend for stakeholders in the multifamily vertical for smart home technologies?

Who Needs This Report:

  • Connected device manufacturers
  • Smart home and home automation platform vendors
  • Smart apartment vendors
  • Telecommunications providers
  • Energy suppliers
  • Property managers
  • Building developers
  • Investor community
Table of Contents
Product Code: siebmm18

Table of Contents

Spark

Context

Recommendations

Multifamily Is Becoming an Attractive Market for Smart Home Technologies

  • Why Is Multifamily Attractive Now?
  • Urbanization Is Leading to Demand for Multifamily Housing
  • Investment in Multifamily Has Increased Significantly
  • Smart Home Target Customers Are Prevalent in Multifamily Buildings
  • Consumers Are Willing to Pay for Technology in Multifamily Buildings
  • Traditional Solutions Limited to Building Retrofits

New Business Models, Applications, and Opportunities in Abound in Multifamily

  • Why Has Multifamily Been Left Untapped by Smart Home Tech?
  • Product, Subscription, or Bundled Solution Models for Multifamily?
  • Product
  • Software Subscription
  • Bundled Solution
  • Rentals versus Condos
  • New Applications for Building Managers...
  • ...And New Benefits for Occupants

Early Entrants Are Gaining Traction

  • ETS
  • IOTAS
  • SmartONE Solutions
  • STRATIS
  • Vivint Smart Properties

What Does Navigant Research Recommend?

  • Explore Multifamily as an Emerging Vertical
  • Design Multifamily-Specific Solutions
  • Go to Market with Bundled Solutions or Partner
  • Learn from Single-Family and Explore New Applications
  • Telcos Partner to Address Building Connectivity Issues

List of Charts and Figures

  • Residential IoT Device Shipments and Penetration by Housing Type, World Markets: 2018-2027
  • Multifamily Business Models
  • Smart Multifamily Building Applications

List of Tables

  • Multifamily Program Structure by Utility
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