Ambient Assisted Living Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Ambient Assisted Living Industry Overview

The 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 capabilities with the help of technologies is expected to increase and become part of players' competitive strategies.

In June 2022, Amazon announced the release of a series of updates and laid out its general strategy for enabling ambient intelligence. This will change how people in all kinds of settings interact with technology and use artificial intelligence (AI).

In March 2022, Quil, a digital health joint venture between Comcast and Independence Health Group (Independence), announced the limited commercial availability of Quil Assure, a new connected home platform that helps the elderly live more independently and strengthens the support of family and friends who care for them. The Quil Assure app works with smart watches and speakers to send real-time information about a care recipient's health to their Care Circle and turn on safety protocols when they are needed.