Market Highlights
The ambient assisted living is an emerging field that targets at expanding information and communication technologies in personal healthcare systems for assisting the needs of the old age people. The geriatric population with poor health is more susceptible to various diseases, regular illnesses, and physical disabilities as compared to the younger population. Moreover, diseases such as heart attacks, stroke, diabetes, obesity, and arthritis are commonly observed in the geriatric population. Therefore, there is a need to monitor and assist them continuously, which generates demand for ambient assistive living products such as telemonitoring/telemedicine, communication devices, or equipment that can reimburse for sensory impairments such as visual or hearing. The governments of European countries are taking various initiatives to improve the quality of life of old age people and strengthen the industrial base in Europe through the use of information and communication technologies, supporting various ambient assisted living activities.
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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.
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.
Intended Audience
- Raw material and manufacturing equipment suppliers
- Automation & control vendors
- System integrators
- Project consultants
- Component manufacturers (sensors & controls)
- Associations & standards
- Government bodies involved in green buildings
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TABLE OF CONTENTS
1 Market Introduction
1.1 Introduction
1.2 Scope Of The Study
1.2.1 Research Objective
1.2.2 Assumption
1.2.3 Limitation
1.3 Market Structure
2 Research Methodologies
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Dynamics
3.1 Introduction
3.2 Market Growth Factors
3.2.1 Advancement And Adoption Of Smart Home Technology
3.2.2 Growing Demand Of Managed Care For Old Age Population
3.2.3 Government Initiatives And Activities Related To Ambient Assisted Living Technology
3.3 Market Challenges
3.3.1 Lack Of Standards And Higher Technical Complexities
3.3.2 Lack Of Connectivity And Consumer Awareness In Rural Areas
3.4 Market Opportunities
3.4.1 Growing Opportunities For ISP’s
Continued…
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