According to a new report, published by KBV research, The Global Ambient Assisted Living Market size is expected to reach $19.1 billion by 2028, rising at a market growth of 24.5% CAGR during the forecast period.
The Safety & Security segment is leading the Global Ambient Assisted Living Market by Product in 2021 thereby, achieving a market value of $4.8 billion by 2028. This is because of the increasing demand for medical alert systems & smart fall detection sensors. The growing incidences of falls among old adults are increasing its usage. Also, the development of new services and technological advancements like the latest DIY (Do It Yourself) home security product. The DIY includes cameras, sensors, and numerous hubs for professional monitoring & storage to ensure the convenience and comfort of the patients.
The North America market dominated the Global Ambient Assisted Living Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.2 billion by 2028. The Europe market is exhibiting a CAGR of 24.2% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 25.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/ambient-assisted-living-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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