The report "Ambient Assisted Living and
Smart Home Market by Product, Services, Assisted Living, Product
(Safety & Security, Communication, Medical Assistive, Mobility,
Telemonitoring, Compensatory Impairment) and Region - Global Trend &
Forecast to 2020", the ambient assisted living market is
expected to reach USD 3.96 Billion by 2020.
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this Report:
The smart
home market is estimated to grow from USD 25.38 Billion in 2015 to USD 56.18
Billion by 2020, at a CAGR of 17.2% between 2015 and 2020.Increasing safety and
security concerns, rising demands for energy savings, and low carbon
emission-oriented solutions along with the interplay of wireless technology,
mobility, IoT, and digital living are expected to drive the smart home market.
Aging population is increasing in many developed countries, thus creating the
demand for assisted living products. Therefore, the AAL market is expected to
gain traction in the next five years; it is estimated to grow from USD 1.44
Billion in 2015 to USD 3.96 Billion by 2020.
Security and access control solutions to play a key role in the
smart home market
Security and
access control is expected to hold the largest share and lead the smart home
market between 2015 and 2020, due to increase in the crime rate, remote
monitoring mobile devices, and growing consumer awareness . Energy management
systems and security & access control markets are expected to grow at high
growth rates between 2015 and 2020.
Medical assistive products and telemonitoring/telemedicines
segments expected to play a vital role in coming years
Safety and
security is expected to hold the largest share of theambient assisted living
market. Medical assistive products and telemonitoring/telemedicine segments are
expected to exhibit high growth rate between 2015 and 2020, in the ambient
assisted living market. Increasing aging population, life expectancy, and
chronic diseases are likely to drive the AAL market.
North America expected to hold the largest market share, APAC to
witness fastest growth in the smart home market
North
America is expected to hold the largest share and lead the smart home market
between 2015 and 2020, due to presence of a large number of players and
increasing demands for energy-efficient and enhanced security products. APAC
offers potential growth opportunities because of rapid technological
advancements and construction activities observed in the APAC region.
Major
players in the market include Honeywell International, Inc. (U.S.), Siemens AG
(Germany), Schneider Electric S.E. (France), Ingersoll Rand Plc. (Ireland),
Legrand SA (France), ABB Group (Switzerland), Medic4all group (Switzerland),
Tunstall Healthcare Ltd (U.K.), Chubb Community Care (U.K.), Televic N.V.
(Belgium), Telbios (Italy), Vitaphone GmbH (Germany), GETEMED AG (Germany),
Koninklijke Philips N.V. (Netherlands), CareTech AB (Sweden), Assisted Living
Technologies, Inc. (U.S.) and others.
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The scope of
the report covers detailed information regarding major factors influencing the
growth of the smart home and ambient assisted living market such as drivers,
restraints, challenges, and opportunities. A detailed analysis of the key
players has been done to provide insights into their business overview,
products and services, key strategies, new product launches, mergers &
acquisitions, partnerships, agreements, collaborations, and recent developments
associated with the market.
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