Press release
Smart Home Healthcare Market outlook with industry review and forecasts
Smart Home Healthcare Market
Rising adoption of wearable devices and technological advancements drives smart home healthcare industry growth. Manufacturer’s focus on enhancement of devices for corrective patient management. Companies invests large amount in innovating smart home healthcare products thereby favors smart home healthcare market growth. Numerous companies such as Koninklijke Philips, Apple and Google among others aim at existing product enhancements and new product launch. For instance, in September 2016 Philips introduced Health Watch to track patient’s health. This device can track heart rate and sleep patterns. Massive demand for such wearables devices will accelerate the smart home healthcare industry growth.
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Wireless segment was valued more than 3 billion in 2018 and will witness tremendous growth over the analysis timeframe. Advancements in wireless communication, sensors coupled with embedded computing devices favors the segmental growth. It provides real time monitoring of physiological signs without interpreting daily activities of individuals that further accelerates the segment growth. Moreover, this technology can perform long term health trend analysis and generates alert signals in emergency cases. These factors further enhances the business growth.
Installation and repair segment accounted for over 66% revenue share in 2018 and will witness significant CAGR by 2025. Increasing demand for effective smart home healthcare installations will upsurge the segmental growth. Moreover, availability of different service residential platforms to ease installation in an individual’s home gateway will accelerate the segmental growth.
Fall prevention and detection segment was valued more than 2 billion in 2018 and is expected to experience lucrative growth over the coming years. Falls are the major concern in the elderly population that boosts the demand for fall detection devices. Technological advancements in securing geriatric population to prevent from fall accidents will favor segment growth. Rising adoption of such devices will further accelerate the business growth.
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North America smart home healthcare market was valued around USD 2 billion in 2018. Rising health concerns and awareness regarding fitness among population will drive the regional growth. Well-established healthcare infrastructure as well as increasing healthcare spending for effective health management should foster the business growth.
Major business players functioning in smart home healthcare market include Apple, Companion Medical, F. Hoffmann-La Roche, General Electric Company, Google, Health Care Originals, Hocoma, Medical Guardian, Medtronic, Proteus Digital Health, Samsung Electronics, VitalConnect and Zanthion. Various initiatives undertaken by industry players such as partnership and mergers to sustain in the industry will prove beneficial for business growth. For instance, in January 2018, Medical Guardian launched next generation medical alert technology at Consumer Electronics Show. The company launched Freedom Guardian, a wearable device that provides clock monitoring, connectivity and support.
Smart home healthcare market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Smart Home Healthcare Market By Technology, 2014-2025 (USD Million)
• Wired
• Wireless
Smart Home Healthcare Market By Service, 2014-2025 (USD Million)
• Installation and Repair
• Renovation and Customization
Smart Home Healthcare Market By Application, 2014-2025 (USD Million)
• Fall Prevention and Detection
• Health Status Monitoring
• Nutrition or Diet Monitoring
• Memory Aids
• Others
The above information is provided for the following regions and countries:
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
• Asia Pacific
o Japan
o China
o India
o Australia
• Latin America
o Brazil
o Mexico
• Middle East Asia & Africa
o Saudi Arabia
o South Africa
o UAE
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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