Location-based Ambient Intelligence Market To Reached US$ 91.7 Billion In 2018

The healthcare sector is converging with the Information and Communications Technology (ICT) sector rapidly, as the need for tech-driven, highly-efficient electronic appliances is growing in various applications, including assisted living.

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Statistics published by the United Nations state that, in 2013, elderly people accounted for nearly 12% of the global population, and this number is likely to grow rapidly to reach 21% by 2050. This is expected to give rise to the demand for automatic machine-based assistance for the elderly population, consequently providing a fillip to the growth of the location-based ambient intelligence market.

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The global market for location-based ambient intelligence reached ~US$ 91.7 billion in 2018, and is likely to reach ~US$ 108 Bn in 2019, with a two-fifth revenue share occupied its applications in smart homes. While the integration of location-based ambient intelligence is observed largely in connected homes, emerging trends in the e-healthcare and telemedicine industries will underscore the new growth prospects for the market in the coming future.

Ongoing advancements in technologies are likely to boost the popularity of ambient-assisted living and the integration of ambient intelligence solutions for assisting medical diagnosis. Increasing sales potential of medical devices that are integrated with ambient intelligence technology, which is intrinsically and thoroughly connected with artificial intelligence (AI), will create a massive window of opportunities for stakeholders in the healthcare sector.

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Market players are likely adopt new strategies to focus on changing end users' needs in specific application areas. This will remain the primary driving engine for the battle for the development of next-gen devices and evolved personal assistant applications of location-based ambient intelligence that can predict dynamic end-user requirements, and make changes in systems that can facilitate these needs.

Consumer Need for Luxurious Experience with Wearable Devices to Foster Innovations

While the world of Internet of Things (IoT), Virtual Reality (VR), and Ambient Intelligence is mainly characterized by advancements in technology, innovations in the location-based ambient intelligence landscape are not driven by the newest additions in technologies anymore. Commercial applications in the market are mainly driven by consumer perception about their experience with IoT-based, wearable devices.

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With the increasing dependence of digital innovation on consumer experience, a majority of market players' strategies and decision-making policies will be influenced by the thought of providing intuitive and personalized features through the integration of high-quality sensors in location-based ambient intelligence applications. This is redefining the emerging trends and winning imperatives for stakeholders in the location-based ambient intelligence market.

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