Market Research Future (MRFR) has published a cooked research report on the “Global Ambient Assisted Living Market”.
MRFR recognizes the following companies as the key players in the global Ambient Assisted Living market— Siemens AG (Germany), Honeywell International, Inc. (U.S.), UTC (Chubb Community Care), Panasonic Corporation (Japan), and ABB Group and Others.
Ambient Assisted Living Market Highlights
The global Ambient Assisted Living market is accounted to register a CAGR of 25.48% during the forecast period and is estimated to reach USD 60,511.2 million by 2032.
The Ambient Assisted Living (AAL) market encompasses technologies and services that use smart sensors, IoT devices, and artificial intelligence to support elderly or disabled individuals in their daily lives, promoting independent living and enhancing their safety and well-being.
Segment Analysis
The global Ambient Assisted Living market has been segmented based on System, Sensors and Service.
On the basis of System, the market is segmented into system, safety & security system, communication system, medical assistance system, power management system, entertainment, transportation, and communication systems, among others. In 2022, the medical assistance system will command the biggest market share. The medical assisted system makes extensive use of the ambient assisted system. Earlier medical emergencies and assistance were considered when designing the main systems of the ambient-assistance system.
Based on Sensors, the global Ambient Assisted Living market has been segmented into temperature sensor, occupancy sensor and others. In 2022, the occupancy sensors market segment had the lion's share of the market. Internal occupancy sensors are utilised in ventilation, lighting, and motion control systems. These sensors recognise when a place is occupied and transmit the appropriate signals to the CPU in charge of operating them.
Based on Service, the global Ambient Assisted Living market has been segmented into customization & renovation and installation & repair. The installation & repair segment dominated the market in 2022 in the Ambient Assisted Living Market.
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Regional Analysis
The global Ambient Assisted Living market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Ambient Assisted Living market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Ambient Assisted Living market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Ambient Assisted Living market comprises of Middle East, Africa, and Latin America.
The North America Ambient Assisted Living Market dominated this market in 2022 The growth is brought on by the rising senior population in the area and the high prevalence of illnesses linked to ageing and lifestyle. In addition, market expansion is being fueled by technical advancements and a rising self-sufficiency tendency.
By adopting new biometric devices with greater data transfer capabilities, UTM: Healthcare, a mobile health technology company, for instance, claimed in August 2022 that it had improved connectivity for remote patient monitoring (RPM) solutions. The improved UTM:RPM system will perform better with cellular-enabled blood pressure monitors, pulse oximetry devices, and blood glucose metres.
A large ageing population in nations like China and India is anticipated to drive the sector forward significantly, and Asia-Pacific is predicted to grow at a rapid rate as a result. The industry's growth is predicted to be aided by rising disposable income and growing internet and smartphone adoption.
Key Findings of the Study
- The global Ambient Assisted Living market is expected to reach USD 60,511.2 million by 2032, at a CAGR of 25.48% during the forecast period.
- The North America Ambient Assisted Living Market dominated this market in 2022 The growth is brought on by the rising senior population in the area and the high prevalence of illnesses linked to ageing and lifestyle.
- Based on Sensors, In 2022, the occupancy sensors market segment had the lion's share of the market.
- Siemens AG (Germany), Honeywell International, Inc. (U.S.), UTC (Chubb Community Care), Panasonic Corporation (Japan), and ABB Group and Others.
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Base Year | 2022 |
Companies Covered | 15 |
Pages | 100 |
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