Ambient Assisted Living Market Overview:
Market expansion is anticipated for the Ambient Assisted Living Market from 2022 to 2029. According to Ambient Assisted Living Market Research, the market is expected to increase from USD 69,596.48 million in 2020 to USD 302,056.61 million in 2029, at a CAGR of 20.14%.
The Ambient Assisted Living (AAL) Market is gaining traction as a new trend that combines with smart homes. It is a system that provides aid and assistance to the elderly population. The ambient assisted living systems are specifically designed to help the elderly and differently-abled population live independently. The risk of health increases with age, so there is a need for continuous monitoring and medical assistance for the elderly.
The Ambient Assisted Living Market has progressed through three stages. The first generation includes wearable devices, emergency response systems, and user-initiated alarms, the second generation includes home sensors and automatic response systems, and the third generation’s automation system has not yet been released. Furthermore, the number of people aged 65 and up is increasing rapidly, reaching 703 million in 2019. However, ambient assisted living services are very beneficial to the elderly population by meeting their needs, and the smart home primarily provides better management of energy, resources, processes, and device connectivity.
Covid-19 Impact on Ambient Assisted Living Market:
The COVID-19 pandemic has had a significant impact on the ambient assisted living market. Because of the pandemic’s spread, the healthcare industry is under tremendous strain to handle pandemic-infected patients, regular check-ups, regular hygienic processes, and monitoring the elderly and vulnerable patients. The virus-affected patients are extremely dangerous to the elderly, who are at a high risk of infection and have a low immune system.
Telemedicine and telemonitoring devices are increasing the growth of e-commerce during this pandemic situation. The demand for ambient assisted living services for elderly homes, as well as ambient, assisted living devices that help monitor, collect vital data, and communicate with healthcare professionals, is expected to rise in North America, Europe, and Asia in the coming years. In any case, this pandemic accelerates the market for ambient assisted living services, particularly for their smart home technologies and services.
Report Includes:
An overview of the global Ambient Assisted Living market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Ambient Assisted Living market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Ambient Assisted Living market and comprehensive profiles of leading companies in the industry.
Report Scope:
The report forecasts the size of the Ambient Assisted Living market for components from 2022 through 2029.
The Executive Summary provides a snapshot of the key findings of the report. The introduction chapter includes the research scope, market segmentation, research methodology, and definitions and assumptions. It involves extremely rigorous scientific methods, tools, and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with the industry experts professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, the latest technological advancement, regulatory landscape, SWOT analysis, and Porter’s five forces analysis. This chapter provides detailed insights into the market which derives the market trends, changing phase of investments, and scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes the profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
| Report Metric | Details |
| Market size available for years | 2022–2029 |
| Base year considered | 2021 |
| Forecast period | 2022–2029 |
| Forecast unit | Value (USD Million) |
| Segments Covered | System, Sensor, Service |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | 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) |
Competitive Analysis
Global Ambient Assisted Living market Competitive Analysis:
Key players in the Global Ambient Assisted Living 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),
- Gnomon Informatics S.A. (Greece),
- Chubb Community Care (U.K.),
- Televic N.V. (Belgium),
- Telbios (Italy),
- Panasonic Corporation (Japan)
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This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2027. Global Ambient Assisted Living market is distributed on the basis of the below-mentioned segments:
Segmentation Analysis:
Global Ambient Assisted Living market, By System:
- Communication system
- safety & security systems
- medical assistance system
- power management system
- transportation & communication system
- Others
Global Ambient Assisted Living market, By Sensors:
- Temperature sensors
- occupancy sensors
- Others
Global Ambient Assisted Living market, By Services:
- Installation & repair
- customization & renovation.
- Others
Global Ambient Assisted Living market, By Region:
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
Table Of Content
1. Introduction
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Ambient Assisted Living Market Analysis (USD Billion), Insights and Forecast, 2016-2027
6. North America Ambient Assisted Living Market Analysis (USD Billion), Insights and Forecast, 2016-2027
7. Latin America Ambient Assisted Living Market Analysis (USD Billion), Insights and Forecast, 2016-2027
8. Europe Ambient Assisted Living Market Analysis (USD Billion), Insights and Forecast, 2016-2027
9. Asia Pacific Ambient Assisted Living Market Analysis (USD Billion), Insights and Forecast, 2016-2027
10. Middle East & Africa Ambient Assisted Living Market Analysis (USD Billion), Insights and Forecast, 2016-2027
11. Competitive Analysis