Navigant Research Report Says Smart Home Technology is Gaining Traction in the Multifamily Segment

To position for success, multifamily smart home market players
should look for partnership opportunities and apply lessons learned from
the single-family segment

BOULDER, Colo.–(BUSINESS WIRE)–#ConnectedHome–A new report from Navigant
Research examines the business case for smart home technologies in
multifamily housing, providing insight into new business models,
applications, and opportunities in the multifamily market.

Multifamily housing has been a nascent segment of the smart home market,
but as urbanization increases and the supply of affordable housing
decreases, building owners and residents are more interested in the
potential of connected technologies. Many consumers expect their homes
to be equipped with digital technologies, and property managers can find
value in using these technologies to assist in more efficient
operations, as well as to attract and retain occupants. Click
to tweet: According to a new report from @NavigantRSRCH,
new business models and applications are encouraging the growth of smart
home technologies in multifamily buildings.

“The smart home is gaining mindshare among consumers, though connected
technologies have largely been targeted toward higher income,
single-family households,” says Paige Leuschner, research analyst with
Navigant Research. “Stakeholders are beginning to realize the untapped
opportunities in multifamily buildings.”

To harness these opportunities, Navigant Research suggests smart home
vendors design solutions to address the specific needs of the
multifamily home market, while leveraging the experience they’ve gained
in the single-family market. Technology providers—especially telcos that
can address connectivity issues in multifamily buildings—should consider
partnering with other market players or going to market with bundled
solutions.

The report, Making
the Business Case for Smart Home Technologies in Multifamily Housing,
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. An Executive Summary of the
report is available for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Making the Business Case for Smart Home Technologies in
Multifamily Housing, is a summary and reflects Navigant Research’s
current expectations based on market data and trend analysis. Market
predictions and expectations are inherently uncertain and actual results
may differ materially from those contained in this press release or the
report. Please refer to the full report for a complete understanding of
the assumptions underlying the report’s conclusions and the
methodologies used to create the report. Neither Navigant Research nor
Navigant undertakes any obligation to update any of the information
contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
lindsay.funicello.paul@navigant.com