Ambient Assisted Living Market Latest Technology, Emerging Technology till 2027
Market Highlights
The ambient assisted living is an emerging field that targets at expanding information and communication technologies in personal healthcare systems for assisting the needs of the old age people. The geriatric population with poor health is more susceptible to various diseases, regular illnesses, and physical disabilities as compared to the younger population. Moreover, diseases such as heart attacks, stroke, diabetes, obesity, and arthritis are commonly observed in the geriatric population.
Therefore, there is a need to monitor and assist them continuously, which generates demand for ambient assistive living products such as telemonitoring/telemedicine, communication devices, or equipment that can reimburse for sensory impairments such as visual or hearing. The governments of European countries are taking various initiatives to improve the quality of life of old age people and strengthen the industrial base in Europe through the use of information and communication technologies, supporting various ambient assisted living activities.
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Key Players
Some of the key players in the Ambient Assisted Living Market Analysis, Inc. (U.S.), Honeywell International, Inc. (U.S.), Siemens AG (Germany), Ingersoll Rand Plc. (Ireland), Legrand SA (France), ABB Group (Switzerland), Tunstall Healthcare Ltd. (U.K.), Chubb Community Care (U.K.), Televic N.V. (Belgium), and Telbios (Italy) among others.
Segmentation
The Ambient Assisted Living Market is segmented into system, sensors, and services.
Based on the system, the ambient assisted living market is sub-segmented into safety and security system, communication system, medical assistance system, power management system, entertainment, transportation and communication system, and others. The sensor segment is subdivided into temperature sensors, occupancy sensors and others. By services, the market is sub-categorized into customization & renovation and installation & repair.
Regional Analysis
For this study, Market Research Future has segmented the global Ambient Assisted Living market in four different regions namely, North America, Europe, Asia Pacific, and the Rest of the World.
Global Ambient Assisted Living market, by region is led by North America in 2017. The increasing adoption of smart homes and high technical expertise are the major reasons for the dominance of North America in the market. U.S. is leading the market whereas Canada is expected to witness high growth rate in the coming future. Followed by Europe which is projected to grow with fastest growing CAGR. Asia-Pacific is considered to be the second fastest growing region due to increasing adoption of smart homes and network improvement in the region.
Key Findings
Global Ambient Assisted Living Market has generated USD 2 billion in 2017 and is expected to reach a market value of USD 13 billion by 2027 growing with 19% CAGR.
By System, communication system is dominating the ambient assisted living market in 2017 whereas, Medical assistance systems is projected to be the fastest growing segment mounting with 22% CAGR
By Sensors, occupancy sensor is dominating the market in 2017 whereas, temperature sensors are expected to grow with 18% CAGR.
Geographically, North America region has been projected to hold the largest market share in the market whereas, Europe is expected to be the fastest growing market for Ambient Assisted Living.
Intended Audience
Ambient Assisted Living Market services providers
Smart components manufacturers
Government agencies
Cloud Service providers
Electronic components manufacturers
Value-added resellers
Construction builders
Research firms
Automation & control networking technologies vendors
Designers/consultants (HVAC, security, and fire & safety)
Component manufacturers (sensors & controls)
Home management systems (product & server providers)
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