Ambient Assisted Living Market Overview
Market Research Future (MRFR) reveals factors that are can
impact the global ambient
assisted living market 2020 in the latest report. As per MRFR
assessment, the Ambient Assisted Living global Market is expected to rise
exponentially at 19.1% CAGR across the analysis period. The ambient assisted
living market valuation can be escalated from USD 2 Billion to USD 23.5 Billion
during the forecast period (2022-2030)
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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 18% 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.
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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.
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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
4 Executive Summary
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