The ambient assisted living is defined as the advanced system for providing aid to old or differently abled people living self-sufficiently. The ambient assisted living system deliver assistance for a better, safer and healthier life. The ambient assisted living market is expected to grow swiftly due to the advancement of technologies and equipment for the smart house. The wireless components and equipment play an important role in the growth of the ambient assisted living market. Growing geriatric population and demand for managed care are some of the factors driving the Ambient Assisted Living Market growth. There has been a momentous upsurge in the number of the aging population, which tends to impact on several aspects of human life, particularly healthcare. It is becoming difficult to take care of old people as the health of old people worsens with the increasing age, resulting in a higher demand for long-term care. Since it is difficult for people of other age groups to take care of the older population, the demand for managed care is increasing.
Some of the key players in the market are Assisted Living Technologies, 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.
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On the basis of the management system, the market is categorized into safety & security systems, communication system, medical assistance system, power management system, entertainment, among others.
On the basis of the sensors, the market is segmented into temperature sensor and occupancy sensor among others.
North America is dominating the market of ambient assisted living. A study shows that in the year 2012, the United States has more than 22,000 ambient assisted living facilities, which were accommodating more than 700 thousand people. This feature has grown since the year 2000. Growing medical expenditure in the U.S., increasing the adoption rate of ambient assisted living products, and support by various governments in North America and Europe for medical research activities related to ambient assisted living are some of the factors driving the ambient assisted the living market in the regions. In the Asia Pacific region, Japan is facing the problem of aging population, one in four people of Japan is above the age of 65, which is increasing the demand for managed care. This, in turn, is driving the demand for an ambient assisted living. However, an enormous necessity of capital investment and momentous care are likely to hinder the growth of the ambient assisted living market and the incapability of ambient assisted living equipment to reach geriatric population living in small towns or villages. Additionally, Asia Pacific region with countries like China, India, Japan, South Korea, Taiwan, Singapore, Malaysia, Australia, New Zealand, and others at its forefront is projected to lead the market further in the upcoming years and is expected to continue with the trend throughout the forecast period.
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- 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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