Global Ambient Assisted Living (AAL) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global Ambient Assisted Market is expected to grow at a CAGR of 21.6% over the forecast period (2022-2027). The ambient assisted living (AAL) market is a new trend combined with smart homes. It is a system that offers assistance and support to the aged population. The ambient assisted living systems are designed to assist old and differently-abled populations with independent living. With the increase of age, the risk of health also increases, so there is a need for continuous monitoring and medical assistance for elder people.
Key HighlightsThe market is moderately fragmented, with smaller vendors concentrated in countries with higher demand. The competitive strategy among vendors is to gain a foothold in the market, with innovation and the capability of investing in R&D by significant vendors being on the higher side. Thus, competition in the market is intensifying. In the services segment, enhancing the capabilities with the help of technologies is expected to increase and become part of players’ competitive strategies.
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