Market Opportunity for Custom Integrators Identified at 129,000 K-12 Schools and 5,900 Universities and Colleges, 29 Million Apartments and 10 Million Condominiums, and 62,500 Hospitality Properties

White paper developed in partnership with Nice explores opportunities for custom integrators beyond the residential market

DALLAS, Feb. 26, 2025 /PRNewswire/ -- Parks Associates' new white paper, Smart Spaces: New Opportunities for Custom Integrators, released in partnership with Nice Group, reveals that K-12 schools and universities, apartments and condominiums, and hospitality properties across the US are increasingly investing in technology to improve their services and operations. Nearly 90% of multifamily properties reported plans to deploy tested smart technologies in the next 12 months on at least one property they served.

By diversifying client bases and leveraging expertise in automation and connected systems, integrators can capture a share of these large markets, positioning themselves as essential partners in digital transformation initiatives. In the US, there are an estimated 129,000 K-12 schools, 5,900 universities and colleges, 29 million apartments and 10 million condominiums, 62,500 hospitality properties, and 200,000 quick-service restaurants.

"Connected sensors and devices are at their most effective when they are integrated – with each other, with central control planes, and with unified data access," said Kristen Hanich, Director of Research, Parks Associates. "Moving into commercial markets offers integrators a path to higher revenues, as budgets in sectors such as multifamily, hospitality, education, and quick-service restaurants significantly outpace typical single-family residential projects."

"As technology continues to evolve, the demand for seamless integration across multifamily, education, hospitality, and quick-service restaurant sectors is stronger than ever," said Paul Williams, Global Managing Director of the Home Management Solutions Business Unit at Nice. "This research highlights the tremendous opportunity for integrators to expand beyond residential markets and apply their expertise to large-scale commercial projects. At Nice, we are committed to supporting integrators with innovative solutions that enhance efficiency, security, and user experience across these industries."

Multifamily owners and operators are increasingly turning to technology to increase operational efficiencies, attract and retain residents, and increase Net Operating Income (NOI) and property value.  Custom integrators have capabilities and experiences that can form a foundation for wider business expansion beyond single-family housing.

In the education market, schools are increasingly investing in Internet of Things (IoT) technologies for a variety of purposes, such as improving operational efficiencies, enhancing student learning, increasing energy efficiency, and containing costs. The market opportunity presented by the education sector is enormous but also bureaucratic and dependent on both local and federal players.

The hospitality market is investing in new technologies to enhance the guest experience, improve business operations, reduce costs, and meet environmental sustainability goals. IoT is being used to offer personalized guest experiences through smart room keys and customized room settings.

Quick-service restaurants (QSRs) are on the leading edge of technology adoption in the food service industry and are uniquely positioned to benefit from technology investments. With QSRs increasingly deploying technologies, integration into centralized systems and data repositories has become progressively more important for vendor selection, following the trends set by other industries.

The research white paper is available for download. To schedule an interview with an analyst or to request specific data, please contact Mindi Sue Sternblitz-Rubenstein at mindi.sue@parksassociates.com, 972-490-1113.

Parks Associates will host the conference Smart Spaces: Apartments, Hospitality, and Community Living, September 16-17, in Dallas, Texas. Registration is now available.

About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.

The company's expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets. https://www.parksassociates.com 

Media Contact:
Mindi Sue Sternblitz-Rubenstein
Parks Associates
972.490.1113
390785@email4pr.com 

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SOURCE Parks Associates