Global Ambient Intelligence Market is valued approximately at USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Ambient Intelligence is systems which relies on sensors and intelligent algorithms to collect and process data from the environment, such as temperature, light, sound, movement, and user behavior. They use this information to infer the context and situation of the users and to provide them with personalized and context-aware services such as adjusting the lighting or temperature, reminding them of appointments, or offering suggestions for activities or services based on their preferences and interests. The Ambient Intelligence market is expanding because of factors such as ubiquity of AI and IOT devices and growing smart cities and smart home projects across the world.
According to Statista, in year 2019, the global Technology spending on smart city initiatives stood at USD 104.3 billion which increased to USD 158 billion in year 2022 and it is projected to reach at USD 189.5 billion by 2023 end. Thus, rising global spending on development of smart cities is driving the market growth. In addition, according to the same source, in year 2021, global Smart Home penetration rate stood at 12.17% which increased to 13.97% in year 2022 and it is projected to reach at 21.09% by year 2025. Thus, rising smart city and smart home penetration across the globe is fostering the market growth. Moreover, evolving location-based mobile applications and rising research and development activities is creating a lucrative growth to the market. However, data security, privacy and identity issues and lack of awareness among smaller enterprises stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Ambient Intelligence Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominates the market in terms of revenue, owing to rising demand for smart building in the region and rising adoption of various technologies in the region. Whereas, Asia Pacific is expected to grow with a Fasted growing CAGR during the forecast period, owing to factors such as rising government smart city and smart homes projects, and geographic expansion of key players in the region.
Major market player included in this report are:
Schneider Electric S.E.
Honeywell International Inc.
Tunstall Healthcare Ltd
Koninklijke Philips N.V.
Chubb Community Care
Recent Developments in the Market:
- In March 2022, Nuance Communications Inc expanded its next-generation ambient A.I. capabilities in the domain of diagnostic imaging. These expanded capabilities sprovide updated AI-powered reporting features in Nuance PowerScribe platform, which empowers the radiologists to create an accurate reports in a less time along with clinical data.
- In March 2022, Microsoft announced the acquisition of Nuance Communications, an ambient and artificial intelligence (A.I.) company, in healthcare and various industries for providing better and personalized patient as well as customer experiences.
Global Ambient Intelligence Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Technology, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
Bluetooth Low Energy
Sensors Ambient Light Sensor
By End User:
Rest of the World