Smart Home Healthcare Market to Reach $11.22 Bn, Globally, by 2031 at 8.8% CAGR

Allied Market Research - Seite 3

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The wireless segment to maintain its dominant share during the forecast period

Based on technology, the wireless segment contributed to the largest market share in 2021, accounting for more than 90% of the global smart home healthcare market, and is expected to maintain its dominant share during the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 8.9% from 2022 to 2031. This is due to ease in handling of wireless devices and digital monitoring of data. The research also analyzes the wired segment.

The health status monitoring segment to continue its highest contribution throughout the forecast period

Based on application, the health status monitoring segment accounted for the largest market share in 2021, holding more than 90% of the global smart home healthcare market, and is estimated to continue its highest contribution throughout the forecast period. Moreover, this segment is projected to register the fastest CAGR of 8.9% from 2022 to 2031. This is attributed to rise in prevalence of diseases and awareness among population for utilization of smart devices for a healthy lifestyle. The research also discusses the fall prevention and detection segment.

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North America to maintain its lead status by 2031

Based on region, North America held the largest market share in 2021, accounting for more than two-fifths of the global smart home healthcare market, and is expected to maintain its lead status by 2031. This is due to the integration of advanced devices and software in smart home healthcare devices, technological advancements in smart home healthcare techniques, and the presence of key and robust infrastructure. However, Asia-Pacific is projected to grow at the largest CAGR of 9.7% from 2022 to 2031, owing to development of healthcare infrastructure and increase in investment in healthcare-related projects. The research also analyzes regions including Europe and LAMEA.