Global Ambient Intelligence Market Report 2023: Rising Demand for Remote Patient Monitoring Devices and Telehealth Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Ambient Intelligence Market Size, Share & Trends Analysis Report By Platform (Solution, Services), By Technology, By End-use Industry, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global ambient intelligence market size is anticipated to reach USD 99.43 billion by 2030, registering a CAGR of 24.4% from 2023 to 2030.

Growing adoption of big data analytics is opening new opportunities for integrating Artificial Intelligence (AI) and Internet of Things (IoT) into ambient intelligence.

The large volumes of data generated by IoT devices can be analyzed using big data analytics to provide useful insights that can be used to optimize the user experience and make the environment more responsive to the users' needs.

The strong emphasis on energy efficiency and sustainability is also driving the use of low-power sensors and processors in IoT devices, thereby making them more energy-efficient and cost-effective in addition to facilitating their integration into AmI.

Moreover, governments across the globe are investing more in ambient intelligence, while Nanotechnologies, smart technologies, and autonomous cars are being increasingly adopted, all of which contribute to the expansion of the market.

In 2021. The European Union launched the Digital Europe program, which aims to support the development and deployment of digital technologies across Europe. The program includes funding for research and development in areas such as AI, cyber security, and digital infrastructure, which are essential components of ambient intelligence.

Ambient Intelligence Market Report Highlights

• In terms of platform. The solution segment accounted for the largest revenue share of 61.5% % in 2022 and is expected to retain its dominance over the forecast period. The trend towards smart homes and cities is driving demand for ambient intelligence solutions that assist in monitoring and controlling energy usage, improving safety & security, and enhancing the overall quality of the life. The services segment is anticipated to witness the highest growth rate of 25.5% during the forecast period 2023-2030
• Based on the technology. The affective computing segment held the largest revenue share of 20.3% in 2022. Consumers are increasingly looking for personalized experiences, and affective computing can help to create more tailored experiences based on individual preferences and emotional states. The RFID segment is expected to witness the highest CAGR rate of 29.3% during the forecast period owing to increased demand from the retail sectors. RFID can be used to create more personalized and interactive customer experiences in retail stores. RFID tags can be used to provide customers with personalized product recommendations or to trigger interactive displays that provide additional product information
• Based on the end-use industry. The healthcare sector held the largest revenue share of 20.5% in 2022 and is expected to maintain its position during the forecast period. Chronic diseases such as diabetes, heart disease, and obesity are rapidly rising worldwide. Ambient computing can be used to support the management of these conditions by providing patients with real-time feedback and personalized health advice
• The education sector is anticipated to witness the highest growth rate of 28.6% during the forecast period. Ambient intelligence provides educators with a wealth of data on student behavior and performance, which can be used to inform decision-making at the individual and institutional levels. The increasing availability of advanced technologies, such as sensors, machine learning algorithms, and artificial intelligence, has made it easier and more cost-effective to implement ambient intelligence in the education sector. According to a European Union (EU) survey, there was a rise of four percentage points in the usage of online courses or web-based learning content among individuals aged between 16 to 74 in 2021, as 27.0% of them reported utilizing these resources in the three months leading up to the survey, compared to 23.0% in 2020
• North America dominated the market with a share of 34.1% in 2022 and is anticipated to retain its dominance during the forecast period owing to increased investments in start-ups by numerous governments & large organizations. For instance, in November 2022, Crescent Cove Advisors. The U.S.-based investment firm announced the investment of USD 27.0 million in care.ai to accelerate growth and scale deployments of the industry's first smart care facility platform across the U.S.
• Asia Pacific is anticipated to expand at the highest CAGR of 27.5% during the forecast period. The rise in the adoption of the 5G network is likely to drive demand for the ambient intelligence market in the region. According to GSMA, Asia Pacific is expected to have over 400.0 million 5G connections by 2025, estimated to account for more than 14.0% of the total mobile networks.

Market Dynamics

Drivers

• Increasing smart cities and smart home projects across the globe
• Rising demand for remote patient monitoring devices and telehealth

Restraints/Challenges

• Increase in security breach and low network connectivity

Opportunities

• Rising government initiatives for the development of green building policies and smart city policies

Companies Mentioned

• Johnson Controls
• Siemens
• Honeywell International Inc.
• Nuance Communications, Inc.
• Infosys Limited
• Zippin
• Ambient.ai
• Noonum
• Accel Robotics
• Elos Health, Inc
• Spark Works
• Eyeris Technologies, Inc.
• care.ai
• BioIntelliSense, Inc.

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