New research from Parks Associates explores the opportunity for home builders and MDUs as channels for smart home solutions, as 25% of US broadband households perceive a “move-in-ready house” would include smart home devices.
My Next Home: Demand for Smart Homes and Smart Apartments reports that despite device ownership flattening in 2018, purchase intentions for smart home devices continue to increase, with 43% of US broadband households planning to purchase at least one device in 2019.
“Among MDU residents, 19% feel that smart home devices are a very important consideration when looking for a home to rent or purchase,” said Patrice Samuels, Senior Analyst, Parks Associates.
“Having smart home devices pre-installed in the home creates an immediate opportunity to demonstrate specific value propositions in safety, energy management, and convenience. It also opens avenues for ongoing services, such as tech support and data management, that are key to ensuring a positive user experience.”
The research notes that companies offering smart home devices in the builder channel have the advantage of creating model homes specifically designed to demonstrate potential use cases and benefits of smart home devices, which can drive interest. Among MDU channels, properties often roll out devices across many units, exposing a large number of consumers to these products.
“Low consumer awareness and low perceived product value remain significant problems for the smart home industry,” Samuels said. “Insufficient information about smart home products often lead to purchase avoidance. These channels help introduce many new consumers to smart home products.”