Market Overview:
The global assisted living and smart home market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for assisted living and smart homes due to the growing aging population, rising disposable income, and technological advancements in the field of home automation. In terms of type, the energy management systems segment is expected to hold a dominant position in the global assisted living and smart home market during the forecast period. This can be attributed to increasing concerns about energy conservation among consumers across all age groups.
Product Definition:
The definition of Assisted Living is a type of residential care that provides assistance with activities of daily living (ADLs) for seniors who need help. Smart Home is a home that uses technology to make it easier or safer for the people who live there, especially seniors and people with disabilities.
Energy Management Systems:
Energy management systems are the part of smart home technology that helps to monitor and control energy usage in a residential or commercial building. It also provides information on energy consumption patterns, which enables users to make informed decisions regarding reducing costs and carbon footprint.
The global ESSENTIAL (Electricity, Safety & Energy for Elderly) scorecard was launched by the United Nations International Children's Emergency Fund (UNICEF).
Security & Access Control:
Security and access control is the part of home automation technology that deals with opening and closing of doors, windows, security cameras, controlling lights and other devices. It also helps in protecting the residents from unwanted guests by providing them protection from hot objects like candles or fire.
The global assisted living & smart home market was valued at USD 6 billion in 2015 which has increased to USD 9 billion in 2016.
Application Insights:
The household segment dominated the global market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to increasing number of aging population, which requires assistance with daily activities. Rising awareness regarding senior citizens¢â‚¬â„¢ rights and needs is also a key factor driving this segment. The commercial segment is expected to witness significant growth over the forecast period owing to rising demand for assisted living services from small and large scale businesses, hospitals, hotels etc. across various regions including North America, Europe, Asia Pacific and Middle East & Africa.
The need for assistance among working professionals has increased due largely not only physical disability but also mental disability that may prevent an individual from undertaking daily activities alone such as bathing or preparing food by himself/herself without any help or support required thereby necessitating assisted living facilities at home or workplace respectively thus leading towards commercial application of assisted living systems globally over the projected period (2017-2030).
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market, registering a CAGR of XX% from 2018 to 2030. The increasing geriatric population and rising living standards are driving the growth of this region. Moreover, supportive government initiatives in developing economies are anticipated to fuel the demand for assisted living and smart home solutions in this region during the forecast period. For instance, according to statistics published by Japan’s Ministry of Health, Labor & Welfare (MHLW), there were approximately 1 million people aged 65 years or more as on January 2017 in Japan; it is estimated that there will be about 28 million people aged 65 years or more by 2027 accounting for nearly 23% of its total population at that time.
Growth Factors:
- Aging population: The global aging population is increasing, and this is expected to drive the assisted living and smart home market.
- Increased awareness of assisted living and smart home technologies: There has been an increase in awareness of the benefits of assisted living and smart home technologies in recent years, which is expected to drive market growth.
- Rising healthcare costs: The high cost of healthcare is motivating people to consider alternatives such as assisted living and smart homes, which can help them save money in the long run.
- Technological advancements: Advances in technology are making it easier for people to live independently, which is driving demand for assisted living and smart home technologies.
Scope Of The Report
Report Attributes
Report Details
Report Title
Assisted Living and Smart Home Market Research Report
By Type
Energy Management Systems, Security & Access Control, HVAC Control, Entertainment Control, Others
By Application
Household, Commercial
By Companies
Honeywell International, Inc. (U.S.), Siemens AG (Germany), Schneider Electric S.E. (France), Ingersoll Rand Plc. (Ireland), ABB Group (Switzerland), Medic4all Group (Switzerland), Tunstall Healthcare Ltd. (U.K.), Chubb Community Care (U.K.), Televic Healthcare (Belgium), Telbios (Italy), Vitaphone GmbH (Germany), GETEMED AG (Germany), Koninklijke Philips N.V. (Netherlands), CareTech AB (Sweden), Assisted Living Technologies, Inc. (U.S.)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Assisted Living and Smart Home Market Report Segments:
The global Assisted Living and Smart Home market is segmented on the basis of:
Types
Energy Management Systems, Security & Access Control, HVAC Control, Entertainment Control, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Household, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Honeywell International, Inc. (U.S.)
- Siemens AG (Germany)
- Schneider Electric S.E. (France)
- Ingersoll Rand Plc. (Ireland)
- ABB Group (Switzerland)
- Medic4all Group (Switzerland)
- Tunstall Healthcare Ltd. (U.K.)
- Chubb Community Care (U.K.)
- Televic Healthcare (Belgium)
- Telbios (Italy)
- Vitaphone GmbH (Germany)
- GETEMED AG (Germany)
- Koninklijke Philips N.V. (Netherlands)
- CareTech AB (Sweden)
- Assisted Living Technologies, Inc. (U.S.)
Highlights of The Assisted Living and Smart Home Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Energy Management Systems
- Security & Access Control
- HVAC Control
- Entertainment Control
- Others
- By Application:
- Household
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Assisted Living and Smart Home Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Assisted living is a type of long-term care that provides assistance with activities of daily living. A smart home is a type of technology that helps people live more independently and safely in their homes.
Some of the major companies in the assisted living and smart home market are Honeywell International, Inc. (U.S.), Siemens AG (Germany), Schneider Electric S.E. (France), Ingersoll Rand Plc. (Ireland), ABB Group (Switzerland), Medic4all Group (Switzerland), Tunstall Healthcare Ltd. (U.K.), Chubb Community Care (U.K.), Televic Healthcare (Belgium), Telbios (Italy), Vitaphone GmbH (Germany), GETEMED AG (Germany), Koninklijke Philips N.V. (Netherlands), CareTech AB (Sweden), Assisted Living Technologies, Inc. (U.S.).
The assisted living and smart home market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Assisted Living and Smart Home Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Assisted Living and Smart Home Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Assisted Living and Smart Home Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Assisted Living and Smart Home Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Assisted Living and Smart Home Market Size & Forecast, 2020-2028
4.5.1 Assisted Living and Smart Home Market Size and Y-o-Y Growth
4.5.2 Assisted Living and Smart Home Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Energy Management Systems
5.2.2 Security & Access Control
5.2.3 HVAC Control
5.2.4 Entertainment Control
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Household
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Assisted Living and Smart Home Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Assisted Living and Smart Home Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Energy Management Systems
9.6.2 Security & Access Control
9.6.3 HVAC Control
9.6.4 Entertainment Control
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Household
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Energy Management Systems
10.6.2 Security & Access Control
10.6.3 HVAC Control
10.6.4 Entertainment Control
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Household
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Energy Management Systems
11.6.2 Security & Access Control
11.6.3 HVAC Control
11.6.4 Entertainment Control
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Household
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Energy Management Systems
12.6.2 Security & Access Control
12.6.3 HVAC Control
12.6.4 Entertainment Control
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Household
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Energy Management Systems
13.6.2 Security & Access Control
13.6.3 HVAC Control
13.6.4 Entertainment Control
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Household
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Assisted Living and Smart Home Market: Competitive Dashboard
14.2 Global Assisted Living and Smart Home Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Honeywell International, Inc. (U.S.)
14.3.2 Siemens AG (Germany)
14.3.3 Schneider Electric S.E. (France)
14.3.4 Ingersoll Rand Plc. (Ireland)
14.3.5 ABB Group (Switzerland)
14.3.6 Medic4all Group (Switzerland)
14.3.7 Tunstall Healthcare Ltd. (U.K.)
14.3.8 Chubb Community Care (U.K.)
14.3.9 Televic Healthcare (Belgium)
14.3.10 Telbios (Italy)
14.3.11 Vitaphone GmbH (Germany)
14.3.12 GETEMED AG (Germany)
14.3.13 Koninklijke Philips N.V. (Netherlands)
14.3.14 CareTech AB (Sweden)
14.3.15 Assisted Living Technologies, Inc. (U.S.)
