Last week in beautiful Huntington Beach, multifamily executives from some of the largest ownership and management groups came together for a week of learning about new technologies designed to market properties differently, decrease cost and increase revenue. One session in particular was about home automation for the rental industry. Our very own CEO Dan Daugherty was on a panel with Brett Worthington, the GM of Wink, Lucas Haldeman, the CTO of Colony American Homes and Wanda McMinn, VP of Marketing at Essex Property Trust.
The discussion was lively and the panel focused on how home automation works, the benefits for the resident and the community, the future of home automation, the state of smart hardware and home automation security.
According to Business Insider, connected-home device sales will drive over $61 Billion this year. That number will climb at a 52% compound annual growth rate to reach $490 billion in 2019.
The largest device shipments will occur under smart home energy where apartments and residents will be able to save billions a year on utility bills.