Market synopsis
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.
Key Players
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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Market Segmentation
Segmental study of the global ambient assisted living market has been performed on the basis of system, sensors, and services. System has been segmented into safety and security systems, communication systems, power management system, entertainment transportation & communication system, medical assistance system, and others. The communication system segment dominated the market while the medical assistance segment will grow at the highest CAGR of 22% during the assessment period.
Sensors have been divided into temperature sensors, occupancy sensors, and others. Occupancy sensors lead the market while the temperature sensors segment is growing rapidly.
Services in the market have been segmented into customization & renovation and installation & repair.
Regional Analysis
Led by the U.S the North American market is the leader in the global market. due to the high demand for advanced technologies such as smart homes and the high adoption rate in the region. Europe Also has high adoption rates and is expected to grow at the highest CAGR during the forecast period. The European region has a large geriatric population and a number of leading market players involved in the development of ambient assisted living, thus driving the growth of the market.
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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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