New York, USA, Sept. 14, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “Location-based Ambient Intelligence Market Information Deployment Mode, By Component, By Technology, By End User, By Region – Market Forecast Till 2032”. The global location-based ambient intelligence market will escalate from USD 180.9 BN in 2022 to USD 1075.2 BN by 2032, registering a 21.90% CAGR throughout the forecast period (2023-2032).
Location based Ambient Intelligence Market Synopsis:
The global location-based ambient intelligence market will likely witness phenomenal growth, witnessing the rising demand for smart home products and healthcare devices.
Considering the prominence of sensors as a component of the reliability in elderly care products and solutions, manufacturers are working in accordance with certified processes and procedures to develop adept location-based ambient intelligence solutions, distributing equal focus on production and service activities. Overwhelming innovations in medical technology, alongside the increasing adoption of evolving sensor technology and IoT-integrated solutions for care assistance, drive the location-based ambient intelligence market rapidly.
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/11932
Market Competitive Landscape:
Leading location-based ambient intelligence market players include,
- Huawei Technologies Co., Ltd.
- Infosys Limited
- SAMSUNG
- Honeywell International Inc.
- ABB
- Medic4all
- Vita Group Holdings Limited
- Assisted Living Technologies, Inc.
- Johnson Controls
- Doro AB
- Chubb Fire & Security
- Nokia
- HTC Corporation
- Schneider Electric
- HTC Global Services
- Siemens
- Among others.
Scope of the Report - Location-based Ambient Intelligence Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 1075.2 Billion |
| CAGR during 2023-2032 | 21.90% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | Companies focusing on developing innovative solutions for improving customer experience |
| Key Market Dynamics | Increasing demand for smart home appliances and increasing demand for smart healthcare devices |
Buy Now Premium Research Report - Get Comprehensive Market Insights.
Additionally, advancements in smart technologies pertaining to smart homes and connected space foster market revenues. The growing demand for managed care for the old age population also drives the market. Augmented demand for intensive care for patients in critical conditions and the proliferation of home-based care set-ups and medical devices embedded with sensors support the market rise, enabling real-time patient data communication.
Some of the key driving forces are advancements in IoT technologies and equipment, the adoption of the smart home concept, and the growing demand for managed care for the old population. Moreover, various activities and initiatives taken up by the government to develop ambient assisted facilities in old-age or elderly homes are escalating the market on the global platform.
Market Segmentations:
The location-based ambient intelligence market report is segmented into components, technologies, end-users, and regions. The component segment is sub-segmented into hardware, software, wearables, virtual reality, mHealth, smart homes, lighting controls, security & access control, HVAC controls, entertainment controls, and others.
The technology segment is sub-segmented into Bluetooth low energy, RFID sensors, ambient light sensors, software agents, affective computing, nanotechnology, biometrics, and others. The end-user segment is sub-segmented into residential, retail, healthcare, industrial, office building, automotive, and others. By regions, the location-based ambient intelligence market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Geographical Analysis:
With high technical expertise, North America will dominate the global location-based ambient intelligence market throughout the forecast period. The augmenting adoption of location-based ambient intelligence for the increasing geriatric population is a key driving force behind the market's growth. Additional factors substantiating the increase in the regional market include huge advancements in sensor technologies and the wide uptake of advanced technologies in healthcare.
Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) on Location-based Ambient Intelligence Market -
https://www.marketresearchfuture.com/reports/location-based-ambient-intelligence-market-11932
The US is leading the market, whereas Canada is expected to witness a high growth rate in the coming years. Substantial investments in R&D activities initiated for developing new sensors and the appropriate uses of ambient sensor technology for elderly care delivery drive market growth. Moreover, factors such as high healthcare spending and increasing government initiatives & funding for research are positively impacting the market's growth.
Europe is the second-largest market for location-based ambient intelligence globally. The availability of advanced technologies and infrastructure that allows the early adoption of technologies drives the regional market. The growing demand for quality healthcare for the increasing geriatric populace and well-established treatment facilities propels the market in the region.
The Asia-Pacific location-based ambient intelligence market is rapidly increasing, emerging as one of the promising markets globally. Rapid advancements in connectivity and network technologies, alongside the increasing adoption of smart homes, drive the regional market. The improvement in the standard of living and rising healthcare expenditure, led by improving economic conditions in the region, propel the growth in the APAC market.
Competitive Analysis:
In its embryonic stage, the location-based ambient intelligence market still appears fiercely competitive and fragmented due to the presence of several well-established players. These players develop their product portfolio, focusing on advanced technologies. Mergers & acquisitions, collaboration, innovation, and brand reinforcement remain the key trends for leading players.
Top players also invest in internal R&D activities to bring novelties to their existing products. Also, increasing government funding is expected to motivate key companies to develop new ambient sensors that can match the changing trends of people in an assisted living environment.
Ask for Customization - Get a customized version of the report by submitting a customization request.
For instance, on July 20, 2022, Cherry Labs announced receiving a grant from the National Institutes of Health (NIH) to study the possibilities of using its AI-driven Cherry Home technology to help maintain independence for older adults.
Cherry Home helps support frail/ cognitively impaired older adults to age safely in their homes. Using ambient intelligence, Cherry Home unobtrusively and with privacy protections monitors for potential emergencies and measures the daily living activities of seniors in their homes. The gathered data helps clinicians and caregivers know if additional support is needed before it's too late and clinical deterioration occurs.
Related Reports:
- Application Transformation Market - The Application Transformation market is projected to grow USD 38.6 Billion by 2032, exhibiting a CAGR of 28.20% during the forecast period (2023 - 2032).
- Task Management Software Market - The Task Management Software market End User is projected to grow USD 7.1 Billion by 2032, exhibiting a CAGR of 13.90% during the forecast period 2023-2032.
- PPC Software Market - The PPC software market is projected to grow USD 45.4 Billion by 2032, exhibiting a CAGR of 11.20% during the forecast period (2023 - 2032).
Browse through more Information And Communications Technology Research Reports.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact Us:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Follow Us: LinkedIn[m1] | Twitter
