Ambient Assisted Living Market Size, Share & Trends Analysis Report By Product (Medical Assistance Products, Safety & Security, Communication Devices, Telemonitoring, Mobility), By Region, And Segment Forecasts, 2024 - 2030

Ambient Assisted Living Market Trends

The global ambient assisted living market size was valued at USD 7.36 billion in 2023 and is projected to grow at a CAGR of 26.8% from 2024 to 2030. The market is collectively driven by the increasing aging population, rising demand for remote patient monitoring devices, and the growing trend of independent living. Furthermore, the constant need to monitor patient vital signs and track medication consumption is poised to bode well for overall market growth.

The demand for AAL systems, devices, and applications for personal health monitoring and telemedicine services has significantly increased. Growing awareness about healthcare systems and concepts such as electronic health records, mobile health applications, and others has set the trend for personal health monitoring. Furthermore, the use of AAL systems is expected to rise with individual preferences for personalized healthcare and independent living. For instance, AI-enabled fall detection systems and smart home devices that can control lighting, temperature, and security are becoming increasingly popular.

AAL solutions are designed to help senior people and those with disabilities live independently. Health risks increase with age, hence older people require ongoing monitoring and medical care. According to the United Nations, there is an increase in the population of people aged 65 and above. The percentage of the global population aged 65 and above is projected to rise from 10% in 2022 to 16% in 2050. AAL supports aging individuals in places of their choosing and gives autonomy to elderly people to live their lives, relieving caregivers.

Furthermore, the rising demand for remote patient monitoring devices is another significant factor driving the AAL market. Remote patient monitoring (RPM) technologies allow healthcare providers to monitor patients’ vital signs and health conditions remotely, reducing the need for frequent hospital visits and enabling timely interventions. This is particularly beneficial for managing chronic diseases, which are prevalent among the elderly population.

Product Insights

The safety and security segment dominated the market with a 26.2% share in 2023 attributed to the increasing demand for medical alert systems and smart fall detection sensors. These products have gained considerable traction from elderly individuals as they are essential in preventing accidents and providing timely assistance - crucial for maintaining the independence and well-being of older adults. In addition, the integration of smart home technology has resulted in increased demand for smart home devices that improve the surveillance of the premises. Major companies have added features such as night vision cameras and trespasser detection in smart devices.

The communication devices segment is expected to grow exponentially during the forecast period owing to the rising demand for devices that offer easy communication convenience to patients. Communication devices, such as smart speakers, video calling systems, and wearable communication aids, ensure that older adults can maintain social connections and receive timely assistance. For instance, AI-enabled voice assistants can help elderly individuals manage their daily routines, set reminders for medications, and even control other smart home devices through simple voice commands.

Regional Insights

The North America ambient assisted living market registered the dominant share of 45.6% in 2023 attributed to the increasing geriatric population and high prevalence of age and lifestyle-related diseases in the region. Furthermore, technological advancements and the increasing trend of independent living have contributed to market growth. In addition, the rising number of patients seeking at-home treatments due to cost-effectiveness and comfort has further increased the demand for AAL devices.

U.S. Ambient Assisted Living Market Trends

The ambient assisted living market in U.S. was substantially propelled by the increased adoption of assisted living facilities among the geriatric population. The market witnessed a growing trend towards living independently. To cater to this growing demand, companies such as 2PCS Solutions GmbH, Alcove, and others have launched products with features such as fall-detection, emergency calling, and AI-enabled assistance. This has further resulted in the increased demand for smart devices required for assisted living.

Europe Ambient Assisted Living Market Trends

The Europe ambient assisted living market accounted for 27.9% of the market share in 2023 owing to the significant investments by the government that encouraged the growing adoption of digital platforms and smart homes. The market saw an increased demand for AAL systems and devices among patients with physical and cognitive disorders, which further resulted in overall growth.

Asia Pacific Ambient Assisted Living Market Trends

The Asia Pacific ambient assisted living market is expected to witness the fastest CAGR of 28.5% over the forecast period. The presence of a sizeable geriatric population in countries such as India and China is anticipated to provide significant momentum to the market. In addition, the rising disposable income of the population and increasing internet and smartphone penetration are expected to bode well for the industry’s growth.

Key Ambient Assisted Living Company Insights

Some of the major market participants are 2PCS Solutions GmbH, Assisted Living Technologies, Inc., Alcove, Televic, and others. Companies have increasingly focused on improving the service with the help of launching new products, mergers & acquisitions. They have focused on partnerships between technology companies, healthcare providers, and government agencies to foster the development of integrated AAL ecosystems and offer comprehensive support to older adults.

• 2PCS Solutions GmbH is a company that provides solutions such as alerting and locating systems designed for professional care and safety of persons in care. The company sells products in various departments such as inpatient and ambulatory care.

• Assisted Living Technologies, Inc. provides technological solutions and promotes independence and safety for elderly and individuals with special needs in private home and community-based settings.

Recent Development

• In April 2024, Legrand Group España, S.L. announced the acquisition of Enovation in assisted living and healthcare. Enovation is a Dutch software company specializing in connected health and assisted living. This acquisition complements Legrand’s current assisted living products and strengthens Legrand’s position in the European market.

Ambient Assisted Living Market Report Scope

Global Ambient Assisted Living Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global ambient assisted living market report based on product, and region.

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Medical Assistance Products

  • Safety and Security

  • Communication Devices

  • Telemonitoring

  • Mobility

  • Compensatory Impairments

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Norway

    • Denmark

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait