The Europe Ambient Assisted Living Market would witness market growth of 24.2% CAGR during the forecast period (2022-2028).
Ambient intelligence (AMI) is the capability of the computing system to sense its surroundings and respond to people. On the ambient intelligence, built systems are known as AAL tools. Among the variety of these tools, medicine reminders and medication management tools play an essential role in controlling health conditions.
With the wide usage of smartphones, AAL technology aids in ensuring high-level safety through the mobile emergency response system. Other such systems include video surveillance and fall detection. With all these facilities, family members can be alerted and take fast action in an emergency. Ambient assisted living aids in mobility & automation, which enables seniors work independently without waiting for caregivers to provide support. It also monitors daily activities & issues reminders whenever required.
In Germany, statutory pension insurance is an essential old-age security system. The scope of persons insured under the statutory pension insurance scheme contains compulsory insurance for persons employed for remuneration or in their vocational training. Compulsory insurances also cover the self-employed in certain occupational groups. There is also the option of applying for mandatory insurance. The government’s various pension schemes will make older people financially self-reliable; hence they will be able to spend more on advanced healthcare devices like ambient assisted living, which will boost the market expansion in the region.
The Germany market dominated the Europe Ambient Assisted Living Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,265.3 million by 2028. The UK market is anticipated to grow at a CAGR of 23.2% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 25.1% during (2022 - 2028).
Based on Product, the market is segmented into Safety & Security, Communication Devices, Medical Assistance Products, Mobility, Telemonitoring, Compensatory Impairments, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Ambient Assisted Living Market will Hit $19.1 Billion by 2028, at a CAGR of 24.5%
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.
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