DALLAS, Aug. 20, 2019 /PRNewswire/ — Parks Associates today announced a new research study surveying US home and multifamily development (multi-dwelling unit) builders to gain insights into new opportunities for smart home technology in new construction. MDUs, Home Builders, and Smart Home Technology, supported by BUILDER and Multifamily Executive, is a survey of 200-300 home and MDU builders and provides an assessment of the current state of smart home implementation among US builders of single-family and multifamily housing.
Parks Associates research shows that almost half of consumers prefer a home with smart home technology. Among likely movers, almost 30% want technology pre-installed with costs rolled into a home mortgage. The research project focuses on value propositions for builders and buyers, including the drivers and barriers, business models, technology strategies, procurement and production processes, sales and marketing, and value chain partnerships.
“New residential and MDU properties provide a prime opportunity to incorporate smart home features from the ground up and differentiate properties for potential buyers or renters,” said Brad Russell, Research Director, Connected Home, Parks Associates. “This research project will reveal the unique needs and challenges as builders undertake these projects, highlight different strategies for single-family versus MDU construction, and identify the best partnerships to deliver value to all players. We look forward to working with Hanley Wood’s BUILDER and MFE on this important project.”
“Installing smart home technology systems has been a big question mark for builders because of the rate of new technology development and the impediments and cost to integrating solutions,” said John McManus, vice president and editorial director of residential titles at Hanley Wood, including builderonline.com and multifamilyexecutive.com. “This survey will help shed light on a complex array of questions in a way that has never been done before – creating new opportunities for collaboration, directing resources to support innovation, and, ultimately, driving value for the consumer at a new, improved level of experience.”
The research survey, fielding in October, answers several key questions:
- What role do consumer preferences play in home builders’ smart home strategies?
- What are builders learning about homebuyer preferences for smart home solutions?
- How do builders segment consumer needs?
- How will builders capture value from smart home investments?
- How do builders’ goals for the customer experience inform their technology strategy?
- How does the builder strategy match technology to market segments?
- What is the preferred method to deal with manufacturers and the preferred structure for purchasing contracts and distribution?
About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company’s expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.
Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, Connected Health Summit: Engaging Consumers, and Future of Video: OTT, Pay TV, and Digital Media.
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SOURCE Parks Associates