Ambient Assisted Living Market Size, Share, Analytical Overview, Business Growth, Development Strategy, Key Vendors and Regional Forecast to 2027
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.
Pune, India – February 27, 2019 /MarketersMedia/ —
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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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.
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.).
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)
About Us:
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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact Info:
Name: Abhishek Sawant
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Source: MarketersMedia
Release ID: 486418
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