Ambient Assisted Living Market To Reach $38.25 Billion By 2030

Ambient Assisted Living Market Growth & Trends

The global ambient assisted living market size is anticipated to reach USD 38.25 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 26.8% from 2024 to 2030. The growing geriatric population and increasing prevalence of age-related health problems such as heart disease, asthma, COPD, cancer, and Crohn's disease, coupled with the need for continuous patient monitoring are driving the market growth. Moreover, the increasing prevalence of neurodegenerative diseases, including Alzheimer's, has created a need for medication reminders and energy management systems, which is expected to boost the growth of the AAL market.

Ambient-assisted living technologies help generate self-reports of health status and send emergency medical alerts. Moreover, it also helps update the medical records of patients, maintain patient care programs, and provide suggestions when needed. Furthermore, it gives autonomy to older people to live independently in their own homes. These are the key factors expected to drive the growth of the global ambient assisted living market.

Furthermore, as wearables and connected technologies register a more widespread presence, AAL services are gradually gaining momentum. This includes assistance such as fall support, emergency services, and sample collection and monitoring. According to the National Library of Medicine (NIH), over the past 15 years, the number of senior people using the internet in the U.S. has consistently climbed and around 67% of people in the age group of 65 and above use ICT facilities every day. This is likely to favor the AAL market growth.

The COVID-19 pandemic positively impacted the market’s growth. As the pandemic spread, the pressure on the healthcare industry was enormous for treating pandemic-infected patients via routine testing. This increased the demand for telemonitoring and RPM platforms. In order to avoid hospital visits, many people started using home healthcare products. Social distancing and isolation boosted the adoption of emergency response systems among the elderly population.

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Ambient Assisted Living Market Report Highlights

• The safety and security segment dominated the market with a 26.2% share in 2023 attributed to the increasing demand for medical alert systems and smart fall detection sensors.

• The communication devices segment is expected to grow exponentially during the forecast period owing to the rising demand for devices that offer easy communication convenience to patients.

• The North America ambient assisted living market registered the dominant share of 45.6% in 2023 attributed to the increasing geriatric population and high prevalence of age and lifestyle-related diseases in the region.

Ambient Assisted Living Market Segmentation

Grand View Research has segmented the global ambient assisted living market report based on product, and region:

Ambient Assisted Living Product Outlook (Revenue, USD Million, 2018 - 2030)

• Medical Assistance Products

• Safety and Security

• Communication Devices

• Telemonitoring

• Mobility

• Compensatory Impairments

• Others

Ambient Assisted Living Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List Of Key Players in the Ambient Assisted Living Market

• 2PCS Solutions GmbH

• Assisted Living Technologies, Inc.

• Alcove

• Televic

• Bay Alarm Medical

• Sensara

• ADT

• Legrand Group España, S.L.

• EnOcean GmbH

• LifeStation, Inc.