Parks Associates estimates that 30% (36 million households) of U.S. broadband households live in MDUs, 66% (79.5 million households) live in single-family homes and 4% (4.8 million households) report other kinds of accommodations.
Parks Associates follows the MDU category closely and has observed several interesting insights about this market. First, the research firm shows that 43% of MDU residents owned smart home devices in 2020, compared to 30% in 2019.
The importance of the smart home category and how it’s influencing the MDU market cannot be underestimated. Recent Parks Associates findings report that 40% of MDU renters are interested in “bulk” Internet service bundled with their rent. Parks Associates also found that 41% of all MDU broadband households owning at least one smart home device, compared to 34% of single-family households.
Unquestionably, this data underscores that today’s homes are dependent now, more than ever before, on connectivity and technology. MDU developers and builders recognize that this trend has been ongoing for several years. ADT Multifamily and Tuya Smart are just two companies looking to leverage the $1.9 billion in annual incremental rental and services revenue that Parks Research expects to be generated by MDU-based smart home capabilities.
From the article "Why MDUs Are Helping Expand the Smart Home Market" by CE Pro Editors.
Apple devices are a mainstay of US households. The portfolio of devices are so frequent around the United States, that almost a fifth of the population is an Apple loyalist. Parks Associates, a mar...
Piracy is projected to expand to new heights in one of the most popular forms of entertainment consumption — streaming services. By 2027, there is a projected loss of $113 billion for streamin...
The residential security industry has gained millions of households due to the explosion of DIY offerings and COVID-19. While in 2022 the home security system adoption slowed, the rebound of professio...
All the while, consumer interest never matched the industry’s passion for the technology. The pandemic might have seemed like a prime opportunity to plug in and disconnect, since actual reality didn’t...
