North America Ambient Assisted Living Market

North America Ambient Assisted Living Market Size, Share & Industry Trends Analysis Report By Product (Safety & Security, Communication Devices, Medical Assistance Products, Mobility, Telemonitoring, Compensatory Impairments), By Country and Growth Forecast, 2022 - 2028

Report Id: KBV-13135 Publication Date: January-2023 Number of Pages: 51
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Market Report Description

The North America Ambient Assisted Living Market would witness market growth of 23.7% CAGR during the forecast period (2022-2028).

Ambient assisted living can be helpful in daily life. For instance, it can alert the user if they have left the food on the stove and forgot to switch it off. AAL can protect against burglary; turning the light off & on contextually. With the use of smart thermostat, it can set the temperature of the room with accordance to the user’s preference and has capability of detecting smoke with smart smoke detectors.

AAL equipped with the self-learning systems has a network of sensors which fuse & elevate data, and aids in performing routine tasks. In addition, the system assists as per the user’s age to resolve any issues.

According to the user’s needs, the technology gets adopted. The usage of AAL is not only limited to the usage of older people. Others can also utilize it and enhance their way of living. Even doctors, nurses & other family members can use it to improve their communication and thus facilitates social interaction. The usage of AAL can provide many features.

In 2012, around one in seven Canadians was a senior, which is expected to jump to nearly one in four. Canada’s retirement income system has three pillars: the Old Age Security (OAS) program, the Canada Pension Plan (CPP), and personal pensions or investments. These aids ensure Canadians maintain a basic standard of living in retirement. The OAS & CPP provided around $76 billion every year in fully indexed retirement income payments. With these initiatives, the number of low-income seniors in Canada has reduced from 21.4 % in 1980 to 5.2% in 2011. The pension initiatives for the financial betterment of old adults, joined with the rising number of older people, will increase the usage of the ambient assisted living tools and thus contribute to the growth of market in the North America region.

The US market dominated the North America Ambient Assisted Living Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,208.7 million by 2028. The Canada market is poised to grow at a CAGR of 26.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 25.4% 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 U.S., Mexico, Canada, and Rest of North America.

Free Valuable Insights: The Global Ambient Assisted Living Market is Estimated to reach $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.

Scope of the Study

Market Segments Covered in the Report:

By Product

  • Safety & Security
  • Communication Devices
  • Medical Assistance Products
  • Mobility
  • Telemonitoring
  • Compensatory Impairments
  • Others

By Country

  • US
  • Canada
  • Mexico
  • Rest of North America

Key Market Players

List of Companies Profiled in the Report:

  • 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.
  • LifeStation, Inc.
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