Global Ambient Assisted Living and Smart Home Market

Global Ambient Assisted Living and Smart Home Market Size, Trends & Analysis - Forecasts to 2026 By Product (Energy Management Systems, Security & Access Control, HVAC Control, Entertainment Control, and Others), By Service (Installation & Repair and Customization & Renovation), By Protocol & Standard (Digital Addressable Lighting Interface, KNX, Lonworks, Modbus, National Electrical Manufacturers Association’s Digital Lighting Controls Open Protocol, Power Line Communication, and X10), By System (Safety & Security, Communication, Medical Assistance, Mobility, Telemonitoring/Telemedicine, Compensatory Impairments, Consumer Electronics/ Multimedia, and Others), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis

Category Electronics, Semiconductors and Information & Communication Technology

Format

This report was recently updated on April 18 2024 with the latest and most recent market numbers

Ambient Assisted Living and Smart Home Market Insights

Smart homes and ambient assisted living offer a comfortable quality of living. Ambient assisted living relates to the use of advanced technologies, smart computing devices, and programs to direct and improve the living standards of individuals and to facilitate a secured lifestyle. This idea is relatively recent in the information, communications, and technology market, and it aids people's everyday lives, especially the elderly, by allowing them to live independently and under minimal physical supervision. Smart homes are residences that have been automated and are fitted with highly advanced information and computer technology systems that adapt to the needs of their owners more effectively.

Smart homes use Wi-Fi and the Internet of Things to power and track air conditioning and surveillance systems, lighting, and household appliances like ovens, dryers, refrigerators, and others, as well as ventilation, heating control, and other functions. Moreover, several large and medium-sized businesses are competing in the market, the global ambient assisted living and the smart home market is anticipated to witness significant growth throughout the forecast period. Along with smart houses, ambient assisted living is gaining popularity globally due to its wide range of benefits. Moreover, with the advancements in the internet of things (IoT) technology and smart home appliances, the ambient assisted living market is anticipated to grow globally.

The key driving force that is accelerating the ambient assisted living and the smart home market is, government agencies in the developing countries which has prioritized the inclusion of such systems to help the aging and disabled population. Ease of monitoring and controlling home appliances started gaining importance globally and hence this will fuel the market. Also, increasing mobility and introduction of smart electronic gadgets which could be connected with application and devices at home has increased the customer base and boosted the overall market growth. Moreover, an increasing number of start-ups are also entering this domain, and hence this is also fuelling the market. Along with this, there are many companies, which are investing in this market and hence allowing the market to rise significantly.

global ambient assisted living and smart home market

Smart Home Market: By Product

Based on the product, the ambient assisted living and smart home market can be segmented as HVAC control, energy management systems, entertainment control, security & access control, and others. Due to rising safety and protection issues, security and access management is estimated to hold the largest share and dominate the market. Unpermitted entry, robbery, and vandalism are both prevented by home surveillance and access control. In the event of an injury, these solutions will also contact emergency responders. Property can now be monitored remotely due to the advancements in cellular technologies and the internet. The use of smart technology in conjunction with smartphones makes it easier to manage all aspects of the security and access management solution.

Smart Home Market: By Service

Based on the service, the market is divided into installation & repair and customization & renovation. Installation & repair services are expected to dominate the smart home market, with the largest share, while customization and restoration services are expected to rise at the fastest pace over the forecast period. The development of smart homes is being fuelled by increased demand for energy management systems, protection & access control devices, HVAC controls, and entertainment controls, which are predominately purchased by the customers who prefer standard products over customized ones and especially from the vendors that provide inexpensive services for installing and repairing the product within the warranty period.

Smart Home Market: By Protocol & Standard

Based on protocol & standard, the market is classified as Digital Addressable Lighting Interface, KNX, Lonworks, Modbus, National Electrical Manufacturers Association’s Digital Lighting Controls Open Protocol, Power Line Communication, and X10. The National electrical manufacturers association’s digital lighting controls open protocol segment will be leading the segment as it has efficient standards and proper protocols to be followed.

Ambient Assisted Living Market: By System

According to the system, the market is categorized into medical assistance, consumer electronics/ multimedia, mobility, safety & security, telemonitoring/telemedicine, communication, compensatory impairments, and others. The medical assistance segment will be having a larger share in the market. Because of the growing aging population and increased demand for efficient healthcare facilities, the medical aided systems segment is projected to grow at the fastest rate.

asia pacific ambient assisted living and smart home market

Ambient Assisted Living and Smart Home Market: By Region

As per the geographical analysis, the market can be classified into North America (the US, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa and Central South America. Due to the existence of developing economies, North America dominated the ambient assisted living and smart home market. Demographic transition is being recognized in these nations, and the issue is gradually being discussed from both a social and economic standpoint. Governments in these countries have prioritized ambient assisted living and smart homes to help elderly people experience safer and healthy lives. Furthermore, companies in the United States and Canada are also adopting ambient assisted living and smart home software to identify and prevent possible insider attacks of all types. Implementing dynamic assisted living and smart home technology assists businesses in constructively monitoring criminal activity and mitigating threats from the start, thus preventing, or at least mitigating security breaches. As a result, it is presumed that these benefits will fuel demand for ambient assisted living and smart homes throughout the forecast period. Then comes Europe, which is anticipated to rise at the highest CAGR. Due to the increased acceptance of smart homes and infrastructure improvements in the area, Asia-Pacific is regarded as the second-fastest developing region.

Ambient Assisted Living and Smart Home Market Share and Competitor Analysis

Honeywell International, Inc., Siemens AG, Schneider Electric S.E., Ingersoll Rand Plc., Legrand SA, ABB Group, Medic4all Group, Tunstall Healthcare Ltd., Chubb Community Care, Televic N.V., Telbios, Vitaphone GmbH, GETEMED AG, Koninklijke Philips N.V., CareTech AB, and Assisted Living Technologies, Inc. are the top players in the ambient assisted living and smart home market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Methodology

1.1 Market Scope & Definitions

1.2 Estimates & Forecast Calculation

1.3 Historical Data Overview And Validation

1.4 Data Sources

1.4.1 Secondary

1.4.2 Primary

Chapter 2 Report Outlook

2.1 Ambient Assisted Living and Smart Home Industry Overview, 2019-2026

2.1.1 Product Overview

2.1.2 Service Overview

2.1.3 Protocol & Standard Overview

2.1.4 System Overview

2.1.5 Region Overview

Chapter 3 Ambient Assisted Living and Smart Home Market Trends

3.1 Market Segmentation

3.2 Industry Background, 2019-2026

3.3 Market Key Trends

3.3.1 Positive Trends

3.3.1.1 Increasing mobility and letting more people be connected with electronic gadgets.

3.3.1.2 Ease of monitoring and controlling home appliances

3.3.2 Industry Challenges

3.3.2.1 Limited Study and Industry Participants

3.4 Prospective Growth Scenario

3.4.1 Product Growth Scenario

3.4.2 Service Growth Scenario

3.4.3 Protocol & Standard Growth Scenario

3.4.4 System Growth Scenario

3.5 COVID-19 Influence over Industry Growth

3.6 Porter’s Analysis

3.7 PESTEL Analysis

3.8 Value Chain & Supply Chain Analysis

3.9 Regulatory Framework

3.9.1 North America

3.9.2 Europe

3.9.3 APAC

3.9.4 LATAM

3.9.5 MEA

3.10 Technology Overview

3.11 Market Share Analysis, 2020

3.11.1 Company Positioning Overview, 2020

Chapter 4 Ambient Assisted Living and Smart Home Market, By Product

4.1 Product Outlook

4.2 Energy Management Systems

4.2.1 Market Size, By Region, 2019-2026 (USD Million)

4.3 Security & Access Control

4.3.1 Market Size, By Region, 2019-2026 (USD Million)

4.4 HVAC Control

4.4.1 Market Size, By Region, 2019-2026 (USD Million)

4.5 Entertainment Control

4.5.1 Market Size, By Region, 2019-2026 (USD Million)

4.6 Others

4.6.1 Market Size, By Region, 2019-2026 (USD Million)

Chapter 5 Ambient Assisted Living and Smart Home Market, By Service

5.1 Service Outlook

5.2 Installation & Repair

5.2.1 Market Size, By Region, 2019-2026 (USD Million)

5.3 Customization & Renovation

5.3.1 Market Size, By Region, 2019-2026 (USD Million)

Chapter 6 Ambient Assisted Living and Smart Home Market, By Protocol & Standard

6.1 Protocol & Standard Technology Outlook

6.2 Digital Addressable Lighting Interface

6.2.1 Market Size, By Region, 2019-2026 (USD Million)

6.3 KNX

6.3.1 Market Size, By Region, 2019-2026 (USD Million)

6.4 Lonworks

6.4.1 Market Size, By Region, 2019-2026 (USD Million)

6.5 Modbus

6.5.1 Market Size, By Region, 2019-2026 (USD Million)

6.6 National Electrical Manufacturers Association’s Digital Lighting Controls Open Protocol

6.6.1 Market Size, By Region, 2019-2026 (USD Million)

6.7 Power Line Communication

6.7.1 Market Size, By Region, 2019-2026 (USD Million)

6.8 X10

6.8.1 Market Size, By Region, 2019-2026 (USD Million)

Chapter 7 Ambient Assisted Living and Smart Home Market, By System

7.1 System Outlook

7.2 Safety & Security

7.2.1 Market Size, By Region, 2019-2026 (USD Million)

7.3 Communication

7.3.1 Market Size, By Region, 2019-2026 (USD Million)

7.4 Medical Assistance

7.4.1 Market Size, By Region, 2019-2026 (USD Million)

7.5 Medical Assistance

7.4.1 Market Size, By Region, 2019-2026 (USD Million)

7.6 Mobility

7.6.1 Market Size, By Region, 2019-2026 (USD Million)

7.7 Telemonitoring/Telemedicine

7.7.1 Market Size, By Region, 2019-2026 (USD Million)

7.8 Compensatory Impairments

7.8.1 Market Size, By Region, 2019-2026 (USD Million)

7.9 Consumer Electronics/ Multimedia

7.9.1 Market Size, By Region, 2019-2026 (USD Million)

7.10 Others

7.10.1 Market Size, By Region, 2019-2026 (USD Million)

Chapter 8 Ambient Assisted Living and Smart Home Market, By Region

8.1 Regional outlook

8.2 North America

8.2.1 Market Size, By Country 2019-2026 (USD Million)

8.2.2 Market Size, By Product, 2019-2026 (USD Million)

8.2.3 Market Size, By Service, 2019-2026 (USD Million)

8.2.4 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.2.5 Market Size, By System, 2019-2026 (USD Million)

8.2.6 U.S.

8.2.6.1 Market Size, By Product, 2019-2026 (USD Million)

8.2.6.2 Market Size, By Service, 2019-2026 (USD Million)

8.2.6.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.2.6.4 Market Size, By System, 2019-2026 (USD Million)

8.2.7 Canada

8.2.7.1 Market Size, By Product, 2019-2026 (USD Million)

8.2.7.2 Market Size, By Service, 2019-2026 (USD Million)

8.2.7.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.2.7.4 Market Size, By System, 2019-2026 (USD Million)

8.3 Europe

8.3.1 Market Size, By Country 2019-2026 (USD Million)

8.3.2 Market Size, By Product, 2019-2026 (USD Million)

8.3.3 Market Size, By Service, 2019-2026 (USD Million)

8.3.4 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.3.5 Market Size, By System, 2019-2026 (USD Million)

8.3.6 Germany

8.3.6.1 Market Size, By Product, 2019-2026 (USD Million)

8.3.6.2 Market Size, By Service, 2019-2026 (USD Million)

8.3.6.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.3.6.4 Market Size, By System, 2019-2026 (USD Million)

8.3.7 UK

8.3.7.1 Market Size, By Product, 2019-2026 (USD Million)

8.3.7.2 Market Size, By Service, 2019-2026 (USD Million)

8.3.7.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.3.7.4 Market Size, By System, 2019-2026 (USD Million)

8.3.8 France

8.3.8.1 Market Size, By Product, 2019-2026 (USD Million)

8.3.8.2 Market Size, By Service, 2019-2026 (USD Million)

8.3.8.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.3.8.4 Market Size, By System, 2019-2026 (USD Million)

8.3.9 Italy

8.3.9.1 Market Size, By Product, 2019-2026 (USD Million)

8.3.9.2 Market Size, By Service, 2019-2026 (USD Million)

8.3.9.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.3.9.4 Market Size, By System, 2019-2026 (USD Million)

6.3.10 Spain

8.3.10.1 Market Size, By Product, 2019-2026 (USD Million)

8.3.10.2 Market Size, By Service, 2019-2026 (USD Million)

8.3.10.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.3.10.4 Market Size, By System, 2019-2026 (USD Million)

8.3.11 Russia

8.3.11.1 Market Size, By Product, 2019-2026 (USD Million)

8.3.11.2 Market Size, By Service, 2019-2026 (USD Million)

8.3.11.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.3.11.4 Market Size, By System, 2019-2026 (USD Million)

8.4 Asia Pacific

8.4.1 Market Size, By Country 2019-2026 (USD Million)

8.4.2 Market Size, By Product, 2019-2026 (USD Million)

8.4.3 Market Size, By Service, 2019-2026 (USD Million)

8.4.4 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.4.5 Market Size, By System, 2019-2026 (USD Million)

8.4.6 China

8.4.6.1 Market Size, By Product, 2019-2026 (USD Million)

8.4.6.2 Market Size, By Service, 2019-2026 (USD Million)

8.4.6.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.4.6.4 Market Size, By System, 2019-2026 (USD Million)

8.4.7 India

8.4.7.1 Market Size, By Product, 2019-2026 (USD Million)

8.4.7.2 Market Size, By Service, 2019-2026 (USD Million)

8.4.7.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.4.7.4 Market Size, By System, 2019-2026 (USD Million)

8.4.8 Japan

8.4.8.1 Market Size, By Product, 2019-2026 (USD Million)

8.4.8.2 Market Size, By Service, 2019-2026 (USD Million)

8.4.8.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.4.8.4 Market Size, By System, 2019-2026 (USD Million)

8.4.9 Australia

8.4.9.1 Market Size, By Product, 2019-2026 (USD Million)

8.4.9.2 Market size, By Service, 2019-2026 (USD Million)

8.4.9.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.4.9.4 Market Size, By System, 2019-2026 (USD Million)

8.4.10 South Korea

8.4.10.1 Market Size, By Product, 2019-2026 (USD Million)

8.4.10.2 Market Size, By Service, 2019-2026 (USD Million)

8.4.10.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.4.10.4 Market Size, By System, 2019-2026 (USD Million)

8.5 Latin America

8.5.1 Market Size, By Country 2019-2026 (USD Million)

8.5.2 Market Size, By Product, 2019-2026 (USD Million)

8.5.3 Market Size, By Service, 2019-2026 (USD Million)

8.5.4 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.5.5 Market Size, By System, 2019-2026 (USD Million)

8.5.6 Brazil

8.5.6.1 Market Size, By Product, 2019-2026 (USD Million)

8.5.6.2 Market Size, By Service, 2019-2026 (USD Million)

8.5.6.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.5.6.4 Market Size, By System, 2019-2026 (USD Million)

8.5.7 Mexico

8.5.7.1 Market Size, By Product, 2019-2026 (USD Million)

8.5.7.2 Market Size, By Service, 2019-2026 (USD Million)

8.5.7.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.5.7.4 Market Size, By System, 2019-2026 (USD Million)

8.5.8 Argentina

8.5.8.1 Market Size, By Product, 2019-2026 (USD Million)

8.5.8.2 Market Size, By Service, 2019-2026 (USD Million)

8.5.8.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.5.8.4 Market Size, By System, 2019-2026 (USD Million)

8.6 MEA

8.6.1 Market Size, By Country 2019-2026 (USD Million)

8.6.2 Market Size, By Product, 2019-2026 (USD Million)

8.6.3 Market Size, By Service, 2019-2026 (USD Million)

8.6.4 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.6.5 Market Size, By System, 2019-2026 (USD Million)

8.6.6 Saudi Arabia

8.6.6.1 Market Size, By Product, 2019-2026 (USD Million)

8.6.6.2 Market Size, By Service, 2019-2026 (USD Million)

8.6.6.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.6.6.4 Market Size, By System, 2019-2026 (USD Million)

8.6.7 UAE

8.6.7.1 Market Size, By Product, 2019-2026 (USD Million)

8.6.7.2 Market Size, By Service, 2019-2026 (USD Million)

8.6.7.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.6.7.4 Market Size, By System, 2019-2026 (USD Million)

8.6.8 South Africa

8.6.8.1 Market Size, By Product, 2019-2026 (USD Million)

8.6.8.2 Market Size, By Service, 2019-2026 (USD Million)

8.6.8.3 Market Size, By Protocol & Standard, 2019-2026 (USD Million)

8.6.8.4 Market Size, By System, 2019-2026 (USD Million)

Chapter 9 Company Landscape

9.1 Competitive Analysis, 2020

9.2 Honeywell International, Inc.

9.2.1 Company Overview

9.2.2 Financial Analysis

9.2.3 Strategic Positioning

9.2.4 Info Graphic Analysis

9.3 Siemens AG

9.3.1 Company Overview

9.3.2 Financial Analysis

9.3.3 Strategic Positioning

9.3.4 Info Graphic Analysis

9.4 Schneider Electric S.E.

9.4.1 Company Overview

9.4.2 Financial Analysis

9.4.3 Strategic Positioning

9.4.4 Info Graphic Analysis

9.5 Ingersoll Rand PLC.

9.5.1 Company Overview

9.5.2 Financial Analysis

9.5.3 Strategic Positioning

9.5.4 Info Graphic Analysis

9.6 Legrand SA

9.6.1 Company Overview

9.6.2 Financial Analysis

9.6.3 Strategic Positioning

9.6.4 Info Graphic Analysis

9.7 ABB Group

9.7.1 Company Overview

9.7.2 Financial Analysis

9.7.3 Strategic Positioning

9.7.4 Info Graphic Analysis

9.8 Medic4all Group

9.8.1 Company Overview

9.8.2 Financial Analysis

9.8.3 Strategic Positioning

9.8.4 Info Graphic Analysis

9.9 Tunstall Healthcare Ltd.

9.9.1 Company Overview

9.9.2 Financial Analysis

9.9.3 Strategic Positioning

9.9.4 Info Graphic Analysis

9.10 Chubb Community Care

9.10.1 Company Overview

9.10.2 Financial Analysis

9.10.3 Strategic Positioning

9.10.4 Info Graphic Analysis

9.11 Televic N.V.

9.11.1 Company Overview

9.11.2 Financial Analysis

9.11.3 Strategic Positioning

9.11.4 Info Graphic Analysis

9.12 Telbios, Vitaphone GmbH

9.12.1 Company Overview

9.12.2 Financial Analysis

9.12.3 Strategic Positioning

9.12.4 Info Graphic Analysis

9.13 GETEMED AG

9.13.1 Company Overview

9.13.2 Financial Analysis

9.13.3 Strategic Positioning

9.13.4 Info Graphic Analysis

9.14 Koninklijke Philips N.V.

9.14.1 Company Overview

9.14.2 Financial Analysis

9.14.3 Strategic Positioning

9.14.4 Info Graphic Analysis

9.15 CareTech AB

9.15.1 Company Overview

9.15.2 Financial Analysis

9.15.3 Strategic Positioning

9.15.4 Info Graphic Analysis

9.16 Assisted Living Technologies, Inc.

9.16.1 Company Overview

9.16.2 Financial Analysis

9.16.3 Strategic Positioning

9.16.4 Info Graphic Analysis

The Global Ambient Assisted Living and Smart Home Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Ambient Assisted Living and Smart Home Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.