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

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.