What is Ambient Assisted Living Smart Home Market?
Ambient Assisted Living Smart Home is an advanced technology that consists of health sensors, motion-activated lights, smart door locks, digital medication dispensers, activity sensors, voice-activated speakers, and others. These technologies are integrated into the residential facility or wearable which capture the health data and daily activity of a person. This ambient assisted living smart home technology comes under ambient intelligence helping elderly people and dementia patients.
The market study is being classified by Type (Energy Management Systems, HVAC Control, Telemonitoring, Consumer Electronics, Medical Assisted Products, Security and Access Controls), by Application (Older People and Dementia Patients) and major geographies with country level break-up.
Siemens AG (Germany), Schneider Electric (France), Ingersoll Rand Plc. (United States), Legrand (France), ABB (Switzerland), Koninklijke Philips N.V. (Netherlands), Tunstall Healthcare (UK) Ltd (United States), Televic N.V. (Belgium), Comcast's Quil Health (United States), Chubb Fire & Security Ltd. (United Kingdom), Caretech AB (United States) and Assisted Living Technologies, Inc. (United States) are some of the key players profiled in the study.
Segment Analysis
Analyst at AMA have segmented the market study of Global Ambient Assisted Living Smart Home market by Type, Application and Region.
On the basis of geography, the market of Ambient Assisted Living Smart Home has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Number of Geriatric Population Along with the Dementia Patients
- Need for Smart Living Technology Older People Comfort Living Space
Market Trend
- Emerging Latest Technology with Artificial Intelligence to Provide Independent and Safe Living to Elderly People
Restraints
- High-Cost Investment in the Ambient Assisted Living Smart Home
Opportunities
- Growing Investment in Smart Living will Boost the Ambient Assisted Living Smart Home Market
Challenges
- Handling and Maintenance Related Issues with Ambient Assisted Living Smart Home Products
On 13th October 2020, Digital health company Quil Health is expanding its reach into home health care with a new sensor-based technology platform aimed at aging seniors and their caregivers. Quil—the healthcare joint venture of telecom giant Comcast NBCUniversal and Independence Health Group—is offering new technology that combines ambient sensors and voice-activated technology in the home to help caregivers monitor patients' movements.
Key Target Audience
Ambient Assisted Living Smart Home Technology Developers, Ambient Assisted Living Smart Home Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others