Ambient Assisted Living Market Overview
Ambient Assisted Living Market Size was valued at USD 6,273.1 million in 2022. The Ambient Assisted Living market industry is projected to grow from USD 7,845.6 million in 2023 to USD 60,511.2 million by 2032, exhibiting a compound annual growth rate (CAGR) of 25.5% during the forecast period (2023 - 2032).
Segmental Analysis
The segment evaluation of the ambient assisted living market is done by system, service, and sensor.
- The system based segments of the ambient assisted living market are medical assistance system, communication system, transportation, safety and security systems, entertainment, communication system, and power management system among others. The communication system segment is expected to earn high revenue for the market.
- The sensor based segments of the ambient assisted living market are occupancy sensors, and temperature sensors among others. The temperature sensors can rise at 25.5% CAGR in the review period.
- The services based segments of the ambient assisted living market are installation repair, and customization renovation.
Ambient Assisted Living Drivers and Restraints
The growing trend of ambient assisted living innovations due to the booming smart homes business can support the expansion of the market in the years to come. The rise in risk of infection and growing need for continuous supervision, along with medical assistance is creating high demand for ambient assisted living market in the years to come. This is expected to impel the expansion of the market across the review period. The increase in development across smart home technology and surge in the demand for internet can prompt the expansion of the ambient assisted living market in the years to come. The rise in the demand for managed care for the expanding elderly populace can also prompt the need for environmentally assisted living market, which, in turn, can support the expansion of the ambient assisted living market in the near future.
Advancements in modern technologies associated to wired room and smart homes and are simplifying the need for environmentally assisted living proceedings. Meanwhile, the demand for managed care for elderly people is surging. Governments across the globe are invested in different activities and initiatives that are related to ambient assisted living solutions. These can promote the expansion of the ambient assisted living market in the years to come. The rise in demand for home automation, devices for wellbeing, wearable devices, media entertainment, fitness, home personal security, and smart energy can add momentum to the expansion of the ambient assisted living market growth.
Regional Analysis
Trends of the global ambient assisted living market is studied across Asia Pacific, North America, Europe, and the rest of the world. North America Ambient Assisted Living market is expected to thrive in the years to come. The market in North America is likely to hold the highest market share and dominate the global assisted living market. The increase in the adoption of smart homes and rise in need for technological know-how are some critical reasons that are responsible for the rise of the North America's supremacy in the sector. The U.S. is likely to head the regional market in the years to come. Canada is expected to rise at a steady pace.
Ambient Assisted Living Competitive Analysis-
Gnomon Informatics S.A. (Greece), Assisted Living Technologies, Inc. (U.S.), Honeywell International, Inc. (U.S.), Legrand SA (France), Siemens AG (Germany), Ingersoll Rand Plc. (Ireland), Chubb Community Care (U.K.), ABB Group (Switzerland), Telbios (Italy), Panasonic Corporation (Japan), and Televic N.V. (Belgium) are some reputed names in the ambient assisted living market as listed by MRFR.
Read More@
SerDes Market to Reach USD 1.3 Billion, at a 15.2% CAGR By 2030 - Market Research Future (MRFR)
Kids Smartwatch Market Worth USD 2.2 Billion at a 18.4% of CAGR By 2030- Report by Market Research Future (MRFR)
Smart Watch Market is expected to reach USD 109.28 million at a 17.34 % of CAGR by 2030- Market Research Future (MRFR)
Smart City Market to Reach USD 1549.86 Billion, at a 15.5% CAGR By 2030 - Market Research Future (MRFR)
Wireless Charging Market is Anticipated to reach USD 22.22 Billion at a 22.2 % of CAGR by 2030- Market Research Future (MRFR)
Contact us:
Market Research Future®,
99 Hudson Street,
5Th Floor,
New York, New York 10013,
United States of America
Phone: +1 628 258 0071(US),+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
