Building-wide security and access management, energy savings, and insurance applications are among the use cases gaining traction
While single-family homes are likely to remain the key market for residential IoT, the multifamily segment is expected to gain a significant share of revenue in coming years. Builders and property managers are becoming more aware of the benefits of building-wide smart home technology, and stakeholders are starting to realize the largely untapped opportunity this market has to offer. Click to tweet: According to a new report from @NavigantRSRCH, global annual revenue from multifamily IoT device sales is expected to increase from
“Software solutions and platforms to serve needs specific to the multifamily segment are starting to enter the market to address the pain points of building owners, property managers, and residents alike,” says
Given the complexity of managing multi-unit buildings, residential IoT can be a gateway to streamline processes in multifamily dwellings, save time and money, and generate additional revenue through rent and increased property valuation.
The report, IoT for
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* The information contained in this press release concerning the report, IoT for