Ambient Assisted Living Market Size, Key Players Analysis, Business Growth, Development Status, Opportunities, Future Trends and Industry Expansion Strategies 2027

Ambient Assisted Living Market Size, Key Players Analysis, Business Growth, Development Status, Opportunities, Future Trends and Industry Expansion Strategies 2027

“Market Research Future”
Market Research Future published a research report on “Ambient Assisted Living Market Research Report – Global Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Market Insights

Ambient assisted living is a part of ambient intelligence technology which is growing at a very rapid pace. Ambient intelligence refers to computing technology which is highly sensitive and responsive to the presence of people. This is the technology which is making smart homes a reality, however, the applications are wide and varied, and among them is ambient assisted living. Ambient assisted living is designed as a smart home system that is especially focused on providing aid to consumers of the geriatric demographic. Market Research Future has released a report which examines the details and growth patterns displayed by the global Ambient Assisted Living Market. Valued at USD 2 Bn in 2017 the global market is on track to achieve a CAGR of 19% during the assessment period from 2018 to 2027. This is predicted to result in a market value estimated at USD 13 Bn by the end of 2027.

The growing demand for managed care and the availability of well-developed assisted living facilities have led to the demand for better care of the elderly population. With age, there are often a number of health risks that require constant monitoring. Ambient assisted living is expected to tackle several problems with assisted living and provide a higher level of care. Notably, the advancement in IoT technologies and adoption of smart homes including the easy availability of relevant equipment has given rise to the demand for ambient assisted living. The sophistication of smart devices and smart homes is driving the market. Moreover, many people are concerned with the management of their elderly relatives or parents care. Development of ambient assisted living to support this is also driving growth. Local governments in various countries are actively engaging and supporting the adoption of ambient assisted living. The geriatric population across the globe is rising and with it the number of degenerative diseases that are prevailing. The market for ambient assisted living is expected to evolve over various stages with the first generation being wearable devices, emergency response systems and user initiated alarms. The next-gen includes home sensors and automatic response systems to maintain the safety of elderly consumers.

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Regional analysis

Geographically, the Ambient Assisted Living market in four different regions namely, North America, Europe, Asia Pacific, and Rest of the World. The North American market is further divided into the U.S., Canada, and Mexico while the European market is segmented into Germany, the U.K., France, Italy and Rest of Europe. The Asia Pacific market is sub-divided into China, India, Japan, and Rest of Asia Pacific.

North America accounted for the largest market share in 2017. The U.S. is leading the market whereas Canada is expected to witness high growth rate in the coming future. Growing medical expenditure, and increasing adoption rate of smart devices are some of the major driving force for the growth of ambient assisted living technology in the region. Europe is projected to grow with the fastest growing CAGR during the forecast period.

Ambient assisted living is considerably more predominant in Europe, however as the technology progresses and these systems mark their presence in the related fields, growth in regions like North America, Australia, and Eastern Asia, especially Japan is highly anticipated. A large number of research projects and NGO initiatives have made its space in Europe in recent years, such as ambient assisted living Joint Programme, ambient assisted livingiance (1 and 2) and many others usually focusing on accessibility, and technical feasibility of the technology for the ageing population.

Key Players

Competitors of prominence that MRFR has recorded in its report on the global ambient assisted living include Telbios (Italy), Televic N.V. (Belgium), Siemens AG (Germany), Panasonic Corporation (Japan), Gnomon Informatics S.A. (Greece), ABB Group (Switzerland), Legrand SA (France), Assisted Living Technologies, Inc. (U.S.), Chubb Community Care (U.K.), Ingersoll Rand Plc. (Ireland), and Honeywell International, Inc. (U.S.).

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.

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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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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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