Global Ambient Assisted Living Market Overview
Ambient Assisted Living Market Size was valued at USD 7845.6 Million in 2023. The Ambient Assisted Living industry is projected to grow from USD 9846.22 Million in 2024 to USD 60511.2 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 25.48% during the forecast period (2024 - 2032). Growing demand for voice authentication in mobile banking applications and the growing impact of artificial intelligence (AI) on the accuracy of Ambient Assisted Living are the key drivers fueling the growth of the market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Ambient Assisted Living Market Trends
Advancement and adoption of smart home technology
A smart home can be categorized as a home that is outfitted with smart equipment and highly technical wireless connectivity between the devices that gather data from sensors, which can be monitored remotely, providing ease of access to the consumers. Although the smart home is not a new concept, it has significantly grown along with the internet of things. Due to rising concern about environmental issues, smart living and assisted living, and the growing need for medical attention for older adults, advancement in smart home technology is at its peak. Many enterprises associated with different industry verticals are entering the smart home market with a strategy to expand their business and geographical reach.
The products used in a smart home are wearable devices, home automation, devices for wellbeing, fitness, media & entertainment, home & personal security, and smart energy. The United States has seen the highest penetration rate of nearly 5% from the previous year. However, the U.K. is closely following with an adoption rate of 3%. Considering ambient assisted living, which is an integral part of smart homes, with the increased adoption of smart homes, the market for ambient assisted living is estimated to flourish.
Covid-19 Analysis
The COVID-19 pandemic raised the demand for at-home and telehealth monitoring devices. During the pandemic, the number of people using telehealth grew dramatically. Because older people were more vulnerable to the COVID-19 infection, they turned to telemedicine and other forms of medical help. They frequently chose safety products and preferred to remain at home. This boosted the development of the AAL market.
Ambient Assisted Living Market Russia-Ukraine War Impact
Russia's invasion of Ukraine and the ongoing effects of the pandemic had a negative and unclear impact on the world economy. Many of the downside risks mentioned in April World Economic Outlook have started to manifest. The world's financial conditions have become more rigid due to higher-than-expected inflation, particularly in the United States and major European nations. With COVID-19 outbreaks and lockdowns, China's recession has been greater than expected, and the conflict in Ukraine has had further detrimental effects.
Ambient Assisted Living Market Segment Insights
Ambient Assisted System Insights
The ambient assisted living market is segmented based on system, safety & security system, communication system, medical assistance system, power management system, entertainment, transportation, and communication systems, among others. Based on the system, the medical assistance system holds the largest market share in 2022. The ambient assisted system has a huge application in the medical assisted system. The major systems in the ambient-assistance system were earlier designed with medical emergencies and assistance in mind. AMBIENT ASSISTED LIVINGJP (Ambient Assisted Living Joint Program) is developed to fund activities for a better quality of life for the geriatric population.
In March 2022, the limited commercial release of Quil Assure, a new connected home platform that enables seniors to live more independently and strengthens the support of family and friends who provide for them, was announced by Quil, a digital health joint venture between Comcast and Independence Health Group (Independence). The Quil Assure app communicates with smart watches and speakers to send real-time information about a care recipient's health to their Care Circle and to activate safety protocols as required.
FIGURE 2: AMBIENT ASSISTED LIVING MARKET SHARE BY SYSTEM 2022 VS 2032 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Ambient Assisted Living Sensors Insights
Based on Sensors, the Ambient Assisted Living market segmented into temperature sensor, occupancy sensor and others. The occupancy sensors segment dominated the market in 2022 and accounted for XX share of the global revenue. Occupancy sensors are internally used sensors for motion control, lights control, or ventilation systems. These sensors detect the occupancy of the space and accordingly send the required signals to the processor controlling them. These sensors generally use infrared, microwave, ultrasonic wave technology. In ambient assisted living, occupancy sensors prove beneficial as these reduce the manual operation to control lights, ventilation, security, and others.
Ambient Assisted Living Service Insights
Based on the service the 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. These systems are installed at one time but may require maintenance and repair at regular intervals to keep the systems such as medical assistance, and security & safety running smoothly.
November 2022: Synaptics Incorporated revealed the launch of a low-power, AI-enabled computer vision and audio sensing platform with integrated Wi-Fi and Bluetooth connectivity. The solution is a ready-to-use solution that enables the rapid deployment of AI sensing features for connected devices aimed at a variety of uses such as home automation, ambient assisted living, security, industrial safety, and monitoring.
Ambient Assisted Living Regional Insights
By region, the study segments the market into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America accounted to hold the largest market. The region's growing geriatric population and high prevalence of age- and lifestyle-related illnesses are responsible for the increase. Furthermore, technological advancements and the growing trend of self-sufficiency are fueling market expansion. For example, UTM: Healthcare, a mobile health technology organization, stated in August 2022 that it has improved connectivity for remote patient monitoring (RPM) solutions by using new biometric devices with increased data transfer capabilities. The enhanced UTM:RPM solution will work better with cellular-enabled blood glucose meters, blood pressure sensors, and pulse oximetry devices.
Asia-Pacific is expected to grow at a rapid pace due to the presence of a sizable geriatric population in countries such as India and China is expected to propel the industry forward significantly. Rising disposable income and increased internet and smartphone penetration are anticipated to benefit the industry's growth.
FIGURE 3: AMBIENT ASSISTED LIVING MARKET SHARE BY REGION 2022 VS 2032 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Ambient Assisted Living Key Market Players & Competitive Insights
Players in this market adopted various strategies to expand their footprint and augment their market share. The key strategies followed by most companies in the global ambient assisted market were product developments, partnerships, and expansions. There is huge competition in regard to providing smart electrical components, health monitoring device, effective communication system, and safety and security equipment.
The Ambient Assisted Living Market consist of large number of players including - Assisted Living Technologies, Inc. (U.S.), Honeywell International, Inc. (U.S.), Siemens AG (Germany), Ingersoll Rand Plc. (Ireland), Legrand SA (France), ABB Group (Switzerland), Gnomon Informatics S.A. (Greece), Chubb Community Care (U.K.), Televic N.V. (Belgium), Telbios (Italy), and Panasonic Corporation (Japan).
Key Companies in the Ambient Assisted Living market include.
- Assisted Living Technologies, Inc. (U.S.)
- Honeywell International, Inc. (U.S.)
- Siemens AG (Germany)
- Ingersoll Rand Plc. (Ireland)
- Legrand SA (France)
- ABB Group (Switzerland)
- Gnomon Informatics S.A. (Greece)
- Chubb Community Care (U.K.)
- Televic N.V. (Belgium)
- Telbios (Italy)
- Panasonic Corporation (Japan)
Ambient Assisted Living Industry Developments
Augmedix (Nasdaq: AUGX), a health tech firm that offers the best-in-class ambient medical documentation and data solutions, has been piloting Google Cloud’s Med-PaLM 2 since December 2023 and will incorporate Google Cloud’s recently introduced MedLM technology into its technology stack. The model suite employs state-of-the-art AI developments adapted for healthcare use cases and meets their stringent requirements on safety, compliance, and enterprise scalability around artificial intelligence. Generally available to white-listed customers already, MedLM builds upon Med-PaLM 2 generative AI (gen AI) large language model (LLM) from Google Cloud. MedLM is specifically designed to generate high-quality outputs in the medical domain using artificial intelligence.
Google Cloud hasn’t wasted any time when it comes to its generative AI capabilities this October either – over the past year, they’ve invested heavily in building out an extensive set of tools, such as its well-known Vertex AI Search platform that lets organizations create search powered by generative AI easily. The company took things up a notch with its most recent addition in this space during 2023; it introduced new features within Vertex AI tailored specifically towards healthcare and life-sciences organizations. These new capabilities will utilize existing functions in Vertex AI, which enable searching across data sources. However, they will go one step further by helping organizations search for clinical information and study patient records more easily.
Intelligent power management company Eaton announced the release of a new digital product targeting the healthcare sector back in July 2023. The smart ambient monitoring Application Programming Interface (API) is built on top of Eaton’s smart breaker technology and uses proprietary machine learning and artificial intelligence (AI) algorithms to enrich energy usage data. API access can be given out through subscriptions to owners or users of an Eaton smart circuit breaker. The output is a digital representation of a person’s daily activities within their living space based on how much electricity they consume with different devices and appliances in their homes.
In June 2022 Amazon announced the availability of several updates as well as its overall strategy for allowing ambient intelligence. This will alter how people interact with technology and use artificial intelligence in a variety of situations. (AI).
June 2022 Athulya Assisted Living, an assisted living and home healthcare service provider located in India, has declared the opening of a 250-bed premium assisted living facility in Bengaluru. The company's primary emphasis is on providing focused senior citizen care under one roof, which includes assisted living, palliative care, critical home care, and transitional care services.
June 2020 Sensara designed smart alarm algorithms for the community in addition to the successful night alarms for nursing homes. The intelligent software learns their routines and records any deviations.
Ambient Assisted Living Market Segmentation
Ambient Assisted Living System Outlook
- Safety & Security System
- Communication System
- Medical Assistance System
- Power Management System
- Entertainment
- Transportation and Communication Systems
- Others
Ambient Assisted Living Sensors Outlook
- Temperature Sensor
- Occupancy Sensor
- Others
Ambient Assisted Living Service Outlook
- Customization & Renovation
- Installation & Repair
Ambient Assisted Living Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East & Africa
- South America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 7845.6 Million |
| Market Size 2024 |
USD 9846.22 Million |
| Market Size 2032 |
USD 60,511.2 Million |
| Compound Annual Growth Rate (CAGR) |
25.48% (2024-2032) |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Historical Data |
2019-2022 |
| Forecast Units |
Value (USD Million) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
System, Sensors, Service and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, Middle East & Africa, and South America |
| Countries Covered |
The U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil |
| Key Companies Profiled |
Siemens AG (Germany), Honeywell International, Inc. (U.S.), UTC (Chubb Community Care), Panasonic Corporation (Japan), and ABB Group and Others |
| Key Market Opportunities |
Growing opportunities for ISP’s |
| Key Market Dynamics |
Government initiatives and activities related to ambient assisted living technology, Growing demand of managed care for old age population, Growing demand of managed care for old age population |
Frequently Asked Questions (FAQ) :
The Ambient Assisted Living market size was valued at USD 7845.6 Million in 2023
The global market is projected to reach USD 60,511.2 Million in 2032
The global market is projected to grow at a CAGR of 25.48% during the forecast period, 2024 - 2032.
North America had the largest share in the global market
Siemens AG (Germany), Honeywell International, Inc. (U.S.), UTC (Chubb Community Care), Panasonic Corporation (Japan), and ABB Group
