Navigant Research Report Shows Global Annual Revenue from Multifamily IoT Device Sales Is Expected to Experience Nearly 24% Compound Annual Growth Rate
Summary
BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research provides an analysis of the market issues related to multifamily Internet of Things (IoT), with global revenue forecasts segmented by new construction, retrofit, and region, through 2028. 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. “The rising interest can also be attributed to the sheer possible size of this market globally, to proliferation, and growing affordability of smart home devices.” 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. Navigant Research expects growth to be primarily driven by Europe and Asia Pacific due to a large share of multifamily building stock in these markets. 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.