The Global Ambient Assisted Living Market size is expected to reach $19.1 billion by 2028, rising at a market growth of 24.5% CAGR during the forecast period.
Ambient assisted living (AAL) is a technology-enabled service that helps older citizens with disabilities live more independently within their homes. Ambient Assisted Living (AAL) uses devices and techniques to ensure that older person is safe in their homes.
These devices are sensors IoT (Internet of Things) and mobile devices to connect people with healthcare professionals & caregivers when in need. The main objectives of AAL are to enhance the quality of life, independence & safety of older people. It further includes wireless networks, smart devices, computers, medical sensors & software applications.
These technologies ensure aging in the chosen place by the individual. AAL makes lives more accessible and, to some extent, less dependent on others. The methods & techniques utilized in AAL are user-centric and integrated into the user's living environment. Its utilization by older adults can be advantageous as it aids in preventing, curing, and enhancing their wellness.
The demographic changes have led to the introduction of AAL technologies. AAL can reduce the high cost associated with healthcare. People want a superior quality of life at every stage. So AAL provides the user with the potential to live alone without the need for anybody’s assistance. AAL addresses comfort and security concerns by integrating itself with the social environment.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Panasonic Corporation, ADT, Inc., EnOcean GmbH, 2PCS Solutions GmbH, Assisted Living Services, Inc. (Assisted Living Technologies, Inc.), Televic Group NV, Bay Alarm Medical (Bay Alarm Company), Sensara B.V., and LifeStation, Inc.
Ambient assisted living (AAL) is a technology-enabled service that helps older citizens with disabilities live more independently within their homes. Ambient Assisted Living (AAL) uses devices and techniques to ensure that older person is safe in their homes.
These devices are sensors IoT (Internet of Things) and mobile devices to connect people with healthcare professionals & caregivers when in need. The main objectives of AAL are to enhance the quality of life, independence & safety of older people. It further includes wireless networks, smart devices, computers, medical sensors & software applications.
These technologies ensure aging in the chosen place by the individual. AAL makes lives more accessible and, to some extent, less dependent on others. The methods & techniques utilized in AAL are user-centric and integrated into the user's living environment. Its utilization by older adults can be advantageous as it aids in preventing, curing, and enhancing their wellness.
The demographic changes have led to the introduction of AAL technologies. AAL can reduce the high cost associated with healthcare. People want a superior quality of life at every stage. So AAL provides the user with the potential to live alone without the need for anybody’s assistance. AAL addresses comfort and security concerns by integrating itself with the social environment.
COVID-19 Impact Analysis
The COVID-19 pandemic has adversely impacted the Ambient Assisted Living (AAL) market. As the pandemic spread, the pressure on the healthcare industry continued to rise. It included handling the pandemic infected patients, regular check-ups, regular hygienic processes, and monitoring of the elderly population & vulnerable patients. The COVID-19 affected patients were very harmful to older people as they have weak immunity, which puts them at higher risk of infection. That is why devices which can ensure safety & health monitoring of old adults from their homes become popular. Due to their smart home technologies & services, they are expected to move the ambient assisted living market at a faster growth rate.Market Growth Factors
The rising geriatric populations
According to the WHO, one in every six people in the world will be aged 60 years or over by 2030. During that time, the share of the population aged 60 years or over will rise from 1 billion in 2020 to 1.4 billion. By 2050, the world’s population of people aged 60 years & older will double to 2.1 billion. The number of persons aged 80 years or older is also expected to triple between the years 2020 & 2050 (426 million). By 2050, two-thirds of the world’s population over 60 is expected to live in low- and middle-income nations. The rising geriatric population and numerous health conditions related to old age are expected to increase the utilization of ambient assisted living devices and propel market growth.Increased demand for home-based care
Healthcare services provided by home health aides and personal care aides are likely to experience more growth and demand than almost any other occupation in coming years. At present, there are millions of nurses & aides working in this field, and that number is expected to increase significantly in the next decade. This is described as a much faster-than-average rate compared to all other occupations. A growing preference for home-based care over institutionalized care is boosting the demand for ambient assisted living devices & solutions, and thus supporting the market growth.Market Restraining Factors
High implementation cost
Choosing the most efficient technology is related to not only functionality & compatibility but also cost. The high cost of the Ambient Assisted Living (AAL) devices cost is the most common factor for the low adoption rate of smart homes. Development in rural areas is challenged explicitly by the cost aspect due to the average income, which is lower than the urban regions. Thus, the universal application of AAL technology in rural areas is not viable due to the high cost, which is not economically accessible to many consumers. The high price of the devices and issues faced while implementing ambient assistance living devices will hinder the market growth.Product Outlook
Based on the product, the ambient assisted living market is segmented into medical assistance products, safety & security, telemonitoring, mobility, communication devices, compensatory impairments and others. The communication devices segment procured a significant revenue share in the ambient assisted living market in 2021. This is due to their usage in connecting the patients with their families & care providers. These devices are utilized to receive & send phone calls, text messages, video chat and more. These types of technology are highly beneficial for people with physical or cognitive disabilities who might have difficulty communicating.Regional Outlook
Region-wise, the ambient assisted living market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region registered the largest revenue share in the ambient assisted living market in 2021. The growth is attributed to the rising adoption of smart homes and high technical expertise. The region has a vast customer base and a proclivity toward new technology. Also, the world’s aging population is anticipated to positively impact the demand for energy-saving and low-carbon emission-oriented solutions considerably. The rising number of old adults coupled with technological advancements is expected to propel further the growth of the ambient assisted living market in the region.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Panasonic Corporation, ADT, Inc., EnOcean GmbH, 2PCS Solutions GmbH, Assisted Living Services, Inc. (Assisted Living Technologies, Inc.), Televic Group NV, Bay Alarm Medical (Bay Alarm Company), Sensara B.V., and LifeStation, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Product
- Safety & Security
- Communication Devices
- Medical Assistance Products
- Mobility
- Telemonitoring
- Compensatory Impairments
- Others
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Honeywell International, Inc
- Panasonic Corporation
- ADT, Inc
- EnOcean GmbH
- 2PCS Solutions GmbH
- Assisted Living Services, Inc. (Assisted Living Technologies, Inc.)
- Televic Group NV
- Bay Alarm Medical (Bay Alarm Company)
- Sensara B.V
- LifeStation, Inc
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Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Ambient Assisted Living Market, by Product
1.4.2 Global Ambient Assisted Living Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and Scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Ambient Assisted Living Market by Product
3.1 Global Safety & Security Market by Region
3.2 Global Communication Devices Market by Region
3.3 Global Medical Assistance Products Market by Region
3.4 Global Mobility Market by Region
3.5 Global Telemonitoring Market by Region
3.6 Global Compensatory Impairments Market by Region
3.7 Global Others Market by Region
Chapter 4. Global Ambient Assisted Living Market by Region
4.1 North America Ambient Assisted Living Market
4.1.1 North America Ambient Assisted Living Market by Product
4.1.1.1 North America Safety & Security Market by Country
4.1.1.2 North America Communication Devices Market by Country
4.1.1.3 North America Medical Assistance Products Market by Country
4.1.1.4 North America Mobility Market by Country
4.1.1.5 North America Telemonitoring Market by Country
4.1.1.6 North America Compensatory Impairments Market by Country
4.1.1.7 North America Others Market by Country
4.1.2 North America Ambient Assisted Living Market by Country
4.1.2.1 US Ambient Assisted Living Market
4.1.2.1.1 US Ambient Assisted Living Market by Product
4.1.2.2 Canada Ambient Assisted Living Market
4.1.2.2.1 Canada Ambient Assisted Living Market by Product
4.1.2.3 Mexico Ambient Assisted Living Market
4.1.2.3.1 Mexico Ambient Assisted Living Market by Product
4.1.2.4 Rest of North America Ambient Assisted Living Market
4.1.2.4.1 Rest of North America Ambient Assisted Living Market by Product
4.2 Europe Ambient Assisted Living Market
4.2.1 Europe Ambient Assisted Living Market by Product
4.2.1.1 Europe Safety & Security Market by Country
4.2.1.2 Europe Communication Devices Market by Country
4.2.1.3 Europe Medical Assistance Products Market by Country
4.2.1.4 Europe Mobility Market by Country
4.2.1.5 Europe Telemonitoring Market by Country
4.2.1.6 Europe Compensatory Impairments Market by Country
4.2.1.7 Europe Others Market by Country
4.2.2 Europe Ambient Assisted Living Market by Country
4.2.2.1 Germany Ambient Assisted Living Market
4.2.2.1.1 Germany Ambient Assisted Living Market by Product
4.2.2.2 UK Ambient Assisted Living Market
4.2.2.2.1 UK Ambient Assisted Living Market by Product
4.2.2.3 France Ambient Assisted Living Market
4.2.2.3.1 France Ambient Assisted Living Market by Product
4.2.2.4 Russia Ambient Assisted Living Market
4.2.2.4.1 Russia Ambient Assisted Living Market by Product
4.2.2.5 Spain Ambient Assisted Living Market
4.2.2.5.1 Spain Ambient Assisted Living Market by Product
4.2.2.6 Italy Ambient Assisted Living Market
4.2.2.6.1 Italy Ambient Assisted Living Market by Product
4.2.2.7 Rest of Europe Ambient Assisted Living Market
4.2.2.7.1 Rest of Europe Ambient Assisted Living Market by Product
4.3 Asia Pacific Ambient Assisted Living Market
4.3.1 Asia Pacific Ambient Assisted Living Market by Product
4.3.1.1 Asia Pacific Safety & Security Market by Country
4.3.1.2 Asia Pacific Communication Devices Market by Country
4.3.1.3 Asia Pacific Medical Assistance Products Market by Country
4.3.1.4 Asia Pacific Mobility Market by Country
4.3.1.5 Asia Pacific Telemonitoring Market by Country
4.3.1.6 Asia Pacific Compensatory Impairments Market by Country
4.3.1.7 Asia Pacific Others Market by Country
4.3.2 Asia Pacific Ambient Assisted Living Market by Country
4.3.2.1 China Ambient Assisted Living Market
4.3.2.1.1 China Ambient Assisted Living Market by Product
4.3.2.2 Japan Ambient Assisted Living Market
4.3.2.2.1 Japan Ambient Assisted Living Market by Product
4.3.2.3 India Ambient Assisted Living Market
4.3.2.3.1 India Ambient Assisted Living Market by Product
4.3.2.4 South Korea Ambient Assisted Living Market
4.3.2.4.1 South Korea Ambient Assisted Living Market by Product
4.3.2.5 Singapore Ambient Assisted Living Market
4.3.2.5.1 Singapore Ambient Assisted Living Market by Product
4.3.2.6 Malaysia Ambient Assisted Living Market
4.3.2.6.1 Malaysia Ambient Assisted Living Market by Product
4.3.2.7 Rest of Asia Pacific Ambient Assisted Living Market
4.3.2.7.1 Rest of Asia Pacific Ambient Assisted Living Market by Product
4.4 LAMEA Ambient Assisted Living Market
4.4.1 LAMEA Ambient Assisted Living Market by Product
4.4.1.1 LAMEA Safety & Security Market by Country
4.4.1.2 LAMEA Communication Devices Market by Country
4.4.1.3 LAMEA Medical Assistance Products Market by Country
4.4.1.4 LAMEA Mobility Market by Country
4.4.1.5 LAMEA Telemonitoring Market by Country
4.4.1.6 LAMEA Compensatory Impairments Market by Country
4.4.1.7 LAMEA Others Market by Country
4.4.2 LAMEA Ambient Assisted Living Market by Country
4.4.2.1 Brazil Ambient Assisted Living Market
4.4.2.1.1 Brazil Ambient Assisted Living Market by Product
4.4.2.2 Argentina Ambient Assisted Living Market
4.4.2.2.1 Argentina Ambient Assisted Living Market by Product
4.4.2.3 UAE Ambient Assisted Living Market
4.4.2.3.1 UAE Ambient Assisted Living Market by Product
4.4.2.4 Saudi Arabia Ambient Assisted Living Market
4.4.2.4.1 Saudi Arabia Ambient Assisted Living Market by Product
4.4.2.5 South Africa Ambient Assisted Living Market
4.4.2.5.1 South Africa Ambient Assisted Living Market by Product
4.4.2.6 Nigeria Ambient Assisted Living Market
4.4.2.6.1 Nigeria Ambient Assisted Living Market by Product
4.4.2.7 Rest of LAMEA Ambient Assisted Living Market
4.4.2.7.1 Rest of LAMEA Ambient Assisted Living Market by Product
Chapter 5. Company Profiles
5.1 Panasonic Corporation
5.1.1 Company Overview
5.1.2 Financial Analysis
5.1.3 Segmental and Regional Analysis
5.1.4 Research & Development Expense
5.1.5 SWOT Analysis
5.2 Honeywell International, Inc.
5.2.1 Company Overview
5.2.2 Financial Analysis
5.2.3 Segmental and Regional Analysis
5.2.4 Research & Development Expenses
5.3 ADT, Inc.
5.3.1 Company Overview
5.3.2 Financial Analysis
5.3.3 Segmental Analysis
5.4 EnOcean GmbH
5.4.1 Company Overview
5.5 2PCS Solutions GmbH
5.5.1 Company Overview
5.6 Assisted Living Services, Inc. (Assisted Living Technologies, Inc.)
5.6.1 Company Overview
5.7 Televic Group NV
5.7.1 Company Overview
5.8 Bay Alarm Medical (Bay Alarm Company)
5.8.1 Company Overview
5.9 Sensara B.V.
5.9.1 Company Overview
5.10. LifeStation, Inc.
5.10.1 Company Overview
Companies Mentioned
- Honeywell International, Inc.
- Panasonic Corporation
- ADT, Inc.
- EnOcean GmbH
- 2PCS Solutions GmbH
- Assisted Living Services, Inc. (Assisted Living Technologies, Inc.)
- Televic Group NV
- Bay Alarm Medical (Bay Alarm Company)
- Sensara B.V.
- LifeStation, Inc.
Methodology
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