Title:
Smart Home Healthcare Market Research Report: By Offering (Solutions, Services), Technology (Wireless, Wired), Application (Fall Detection and Prevention, Safety and Security Monitoring, Health Status Monitoring, Nutrition/Diet Monitoring, Memory Aids) - Global Industry Analysis and Growth Forecast to 2030.
The global smart home healthcare market is projected to generate a revenue of $96.2 billion by 2030, increasing from $8.7 billion in 2019, advancing at a 26.2% CAGR during the forecast period (2020-2030). The growing healthcare expenditure, increasing geriatric population, rising usage of IoT-connected smart home healthcare devices, surging prevalence of chronic diseases, and growing preference for personalized healthcare are resulting in the expansion of the market. The market is divided into services and solutions, on the basis of offering.
Between the two, the solutions division dominated the market in 2019, owing to the high adoption of fitness trackers and smartwatches by individuals, increasing awareness regarding health and fitness among people, implementation of healthcare platforms by professionals, and rising need for mapping the progress of chronic diseases. The services division is predicted to register the faster growth during the forecast period, due to the rising need for effective repair and installation services for improved connectivity at home.
North America accounted for the largest share of the smart home healthcare market during the historical period (2014-2019), owing to the increasing per capita income, rising investments for technological advancements, presence of major consumer electronics companies that offer advanced products at low prices, and high prevalence of chronic diseases, including cancer. The Asia-Pacific region is predicted to progress at the fastest pace during the forecast period, due to the increasing government initiatives for smart home healthcare, rising geriatric population, and growing adoption of mHealth technologies.
A key trend being witnessed in the smart home healthcare market is the rising utilization of IoT devices, which is occurring because of the development of advanced products. For example, LifeFone Inc.'s the LifeFone fall detection pendant sends an alarm to the emergency response center in case the user falls. A number of other IoT devices are also available in the market that provide home healthcare services. Owing to increasing awareness, such devices have gained wide popularity across the globe.
In conclusion, the market is growing due to the rising incidence of chronic diseases and increasing use of IoT devices.
Table of Contents
Chapter 1. Research Background
- 1.1 Research Objectives
- 1.2 Market Definition
- 1.3 Research Scope
- 1.3.1 Market Segmentation by Offering
- 1.3.2 Market Segmentation by Technology
- 1.3.3 Market Segmentation by Application
- 1.3.4 Market Segmentation by Region
- 1.3.5 Analysis Period
- 1.3.6 Market Data Reporting Unit
- 1.4 Key Stakeholders
Chapter 2. Research Methodology
- 2.1 Secondary Research
- 2.2 Primary Research
- 2.2.1 Breakdown of Primary Research Respondents
- 2.2.1.1 By region
- 2.2.1.2 By industry participant
- 2.2.1.3 By company type
- 2.3 Market Size Estimation
- 2.4 Data Triangulation
- 2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
- 4.1 Definition of Market Segments
- 4.1.1 By Offering
- 4.1.1.1 Solutions
- 4.1.1.2 Services
- 4.1.1.2.1 Installation and repair
- 4.1.1.2.2 Renovation and customization
- 4.1.2 By Technology
- 4.1.2.1 Wireless
- 4.1.2.2 Wired
- 4.1.3 By Application
- 4.1.3.1 Fall detection and prevention
- 4.1.3.2 Safety and security monitoring
- 4.1.3.3 Health status monitoring
- 4.1.3.4 Nutrition/diet monitoring
- 4.1.3.5 Memory aids
- 4.1.3.6 Others
- 4.2 Market Dynamics
- 4.2.1 Trends
- 4.2.1.1 Increasing popularity of IoT devices in home healthcare
- 4.2.1.2 Rising usage of cube-sized sensors
- 4.2.2 Drivers
- 4.2.2.1 Growing demand for IoT-connected smart home healthcare devices
- 4.2.2.2 Rising geriatric population
- 4.2.2.3 Increasing demand for mHealth technologies
- 4.2.2.4 Rising need for personalized healthcare
- 4.2.2.5 Surging prevalence of chronic diseases
- 4.2.2.6 Growing healthcare costs
- 4.2.2.7 Impact analysis of drivers on market forecast
- 4.2.3 Restraints
- 4.2.3.1 Privacy and security issues
- 4.2.3.2 Lack of awareness
- 4.2.3.3 High capital expenditure and maintenance requirement
- 4.2.3.4 Impact analysis of restraints on market forecast
- 4.2.4 Opportunities
- 4.2.4.1 Increasing adoption of cloud technology in healthcare
- 4.2.4.2 Emerging economies offer opportunities for market players
- 4.3 Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Buyers
- 4.3.2 Bargaining Power of Suppliers
- 4.3.3 Intensity of Rivalry
- 4.3.4 Threat of New Entrants
- 4.3.5 Threat of Substitutes
- 4.2 Impact of COVID-19
- 4.2.1 Global Share by Countries
- 4.2.2 Contribution of Countries toward Global Export and Import (2019)
- 4.2.2.1 Top 20 countries by export
- 4.2.2.2 Top 20 countries by import
- 4.2.3 Global Scenario of COVID-19 Impact
- 4.2.4 Global Scenario
- 4.2.4.1 GDP growth rate (2019)
- 4.2.4.2 GDP growth rate (2020)
- 4.2.4.3 GDP growth rate projection for 2021
- 4.2.5 Assessment of COVID-19 Impact on GDP and Economic Forecast
- 4.2.6 Assessment of COVID-19 Impact on Workforce across Various Sectors
- 4.4 Impact of COVID-19 on Smart Home Healthcare Market
- 4.4.1 COVID-19 Scenario
- 4.4.2 Future Scenario
Chapter 5. Global Market Size and Forecast
- 5.1 Overview
- 5.2 By Offering
- 5.2.1 Smart Home Healthcare Services Market, by Type
- 5.3 By Technology
- 5.4 By Application
- 5.5 By Region
Chapter 6. North America Market Size and Forecast
- 6.1 By Offering
- 6.1.1 Smart Home Healthcare Services Market, by Type
- 6.2 By Technology
- 6.3 By Application
- 6.4 By Country
- 6.4.1 U.S. Smart Home Healthcare Market
- 6.4.1.1 By technology
- 6.4.1.2 By application
- 6.4.2 Canada Smart Home Healthcare Market
- 6.4.2.1 By technology
- 6.4.2.2 By application
Chapter 7. Europe Market Size and Forecast
- 7.1 By Offering
- 7.1.1 Smart Home Healthcare Services Market, by Type
- 7.2 By Technology
- 7.3 By Application
- 7.4 By Country
- 7.4.1 Germany Smart Home Healthcare Market
- 7.4.1.1 By technology
- 7.4.1.2 By application
- 7.4.2 U.K. Smart Home Healthcare Market
- 7.4.2.1 By technology
- 7.4.2.2 By application
- 7.4.3 France Smart Home Healthcare Market
- 7.4.3.1 By technology
- 7.4.3.2 By application
- 7.4.4 Italy Smart Home Healthcare Market
- 7.4.4.1 By technology
- 7.4.4.2 By application
- 7.4.5 Spain Smart Home Healthcare Market
- 7.4.5.1 By technology
- 7.4.5.2 By application
Chapter 8. APAC Market Size and Forecast
- 8.1 By Offering
- 8.1.1 Smart Home Healthcare Services Market, by Type
- 8.2 By Technology
- 8.3 By Application
- 8.4 By Country
- 8.4.1 China Smart Home Healthcare Market
- 8.4.1.1 By technology
- 8.4.1.2 By application
- 8.4.2 Japan Smart Home Healthcare Market
- 8.4.2.1 By technology
- 8.4.2.2 By application
- 8.4.3 India Smart Home Healthcare Market
- 8.4.3.1 By technology
- 8.4.3.2 By application
Chapter 9. LATAM Market Size and Forecasts
- 9.1 By Offering
- 9.1.1 Smart Home Healthcare Services Market, by Type
- 9.2 By Technology
- 9.3 By Application
- 9.4 By Country
Chapter 10. MEA Market Size and Forecast
- 10.1 By Offering
- 10.1.1 Smart Home Healthcare Services Market, by Type
- 10.2 By Technology
- 10.3 By Application
- 10.4 By Country
Chapter 11. Competitive Landscape
- 11.1 Product Benchmarking of Key Players
- 11.2 Strategic Developments
- 11.2.1 Product Launch
- 11.2.2 Acquisitions
- 11.2.3 Partnerships
Chapter 12. Company Profiles
- 12.1 Apple Inc.
- 12.1.1 Business Overview
- 12.1.2 Product and Service Offerings
- 12.1.3 Key Financial Summary
- 12.2 Koninklijke Philips N.V.
- 12.2.1 Business Overview
- 12.2.2 Product and Service Offerings
- 12.2.3 Key Financial Summary
- 12.3 Siemens AG
- 12.3.1 Business Overview
- 12.3.2 Product and Service Offerings
- 12.3.3 Key Financial Summary
- 12.4 General Electric Company
- 12.4.1 Business Overview
- 12.4.2 Product and Service Offerings
- 12.4.3 Key Financial Summary
- 12.5 Schneider Electric SE
- 12.5.1 Business Overview
- 12.5.2 Product and Service Offerings
- 12.5.3 Key Financial Summary
- 12.6 AT&T Inc.
- 12.6.1 Business Overview
- 12.6.2 Product and Service Offerings
- 12.6.3 Key Financial Summary
- 12.7 Fitbit Inc.
- 12.7.1 Business Overview
- 12.7.2 Products and Services Offerings
- 12.7.3 Key Financial Summary
- 12.8 Samsung Electronics Co. Ltd.
- 12.8.1 Business Overview
- 12.8.2 Product and Service Offerings
- 12.8.3 Key Financial Summary
- 12.9 Medical Guardian LLC
- 12.9.1 Business Overview
- 12.9.2 Product and Service Offerings
- 12.10 Solution Works LLC
- 12.10.1 Business Overview
- 12.10.2 Product and Service Offerings
Chapter 13. Appendix
- 13.1 Abbreviations
- 13.2 Sources and References
- 13.3 Related Reports
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