“The increased safety and security concerns would drive the smart home market”
The smart home market size 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. It is driven by factors such as increased safety and security concerns, rising demands for energy saving and low carbon emission-oriented solutions.
“Growing aging population would drive the assisted living market”
The ambient assisted living market size is estimated to grow from USD 1.20 billion in 2015 to USD 3.96 billion by 2020, at a CAGR of 22.4% between 2015 and 2020. The growing aging population and rising demands for managed healthcare would drive the ambient assisted living market.
“Security and access control to gain maximum traction during the forecast period”
Security and access control is estimated to hold the largest market share duing the forecast period. Furthermore, due to the rise in safety and security concerns, the market for security and access control is expected to gain traction and grow at the highest CAGR in the next five years.
“Medical assistive products and telemedicine/telemonitoring to grow at high rates during the forecast period”
Medical assistive products and telemedicine/telemonitoring markets are expected to grow at higher rates compared to other segments during the forecast period. Increasing aging population demading for managed healthcare and increasing chronic diseases among people are major driving factors for the growth of this market.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is as given below:
- By Company Type: Tier 1 – 55 %, Tier 2 – 20% and Tier 3 – 25%
- By Designation: C level – 60%, Director level – 25%, Others – 15%
- By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%
Due to the accelerated growth in smart-home centric wireless protocols and increasing number of activities in the ambient assisted living joint programme (AAL JP), the smart home and ambient assisted living market finds huge opportunity to proliferate in the next five years.
Various key smart home and ambient assisted living vendors profiled in the report are as follows:
- Honeywell International, Inc. (U.S.)
- Siemens AG (Germany)
- Schneider Electric S.E. (France)
- IngersollRand 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.)
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the smart home and ambient assisted living market comprehensively and provides the closest approximations of the size of the overall market and sub-segments basw different products and regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders better understand a competitor and gain more insights to improve their position in the business. The competitive landscape section includes the competitor ecosystem, new product develpoments, partnerships, and mergers &acquisitions.