Location-based Ambient Intelligence: Next Big Leap for Consumer Electronics in Healthcare
The healthcare sector is converging with the Information and Communications Technology (ICT) sector rapidly, as the need for tech-driven, highly-efficient electronic appliances is growing in various applications, including assisted living. Statistics published by the United Nations state that, in 2013, elderly people accounted for nearly 12% of the global population, and this number is likely to grow rapidly to reach 21% by 2050. This is expected to give rise to the demand for automatic machine-based assistance for the elderly population, consequently providing a fillip to the growth of the location-based ambient intelligence market.
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The global market for location-based ambient intelligence reached ~US$ 91.7 billion in 2018, and is likely to reach ~US$ 108 Bn in 2019, with a two-fifth revenue share occupied its applications in smart homes. While the integration of location-based ambient intelligence is observed largely in connected homes, emerging trends in the e-healthcare and telemedicine industries will underscore the new growth prospects for the market in the coming future.
Ongoing advancements in technologies are likely to boost the popularity of ambient-assisted living and the integration of ambient intelligence solutions for assisting medical diagnosis. Increasing sales potential of medical devices that are integrated with ambient intelligence technology, which is intrinsically and thoroughly connected with artificial intelligence (AI), will create a massive window of opportunities for stakeholders in the healthcare sector.
Market players are likely adopt new strategies to focus on changing end users’ needs in specific application areas. This will remain the primary driving engine for the battle for the development of next-gen devices and evolved personal assistant applications of location-based ambient intelligence that can predict dynamic end-user requirements, and make changes in systems that can facilitate these needs.
Consumer Need for Luxurious Experience with Wearable Devices to Foster Innovations
While the world of Internet of Things (IoT), Virtual Reality (VR), and Ambient Intelligence is mainly characterized by advancements in technology, innovations in the location-based ambient intelligence landscape are not driven by the newest additions in technologies anymore. Commercial applications in the market are mainly driven by consumer perception about their experience with IoT-based, wearable devices.
With the increasing dependence of digital innovation on consumer experience, a majority of market players’ strategies and decision-making policies will be influenced by the thought of providing intuitive and personalized features through the integration of high-quality sensors in location-based ambient intelligence applications. This is redefining the emerging trends and winning imperatives for stakeholders in the location-based ambient intelligence market.
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Growing Concerns about Energy Efficiency and Privacy to Direct Market Players’ Strategies
With increasing consumer awareness about the environmental impact of various appliances that they use, the demand for energy-efficient location-based ambient intelligence solutions is surging rapidly. In addition, consumers are also voicing their concerns about cyber threats and the need for security features in location-based ambient-intelligent devices.
These trends in the market are giving rise to technology-driven partnerships among leading players in the location-based ambient intelligence market. For instance, HTC Corporation, a Taiwanese consumer electronics company, has partnered with several ecosystem players to expand its VR footprint, globally. The company partnered with Valve Corp. in order to provide VR based games, specifically to promote HTC Vive among end users. Furthermore, the company partnered with several input controller providers and software & service providers to increase the usage of HTC Vive in different end-user applications.
Another leading player in the market and a Chinese multinational technology company – Huawei Technologies Co., Ltd., focuses on partnerships with companies for the integration and licensing of advanced technologies. It partnered with ARM, a processor design company. The incorporation of ARM’s new ARMv8 license enables technology in networking and cloud computing.
Furthermore, the increasing need for constant advancements in connectivity has been triggering new trends in the location-based ambient intelligence market, and this is bolstering more collaborations among electronic companies with telecommunication service providers. For instance, in February 2018, Samsung Electronics partnered with Vodafone Group to develop and launch a range of consumer Internet of Things (IoT) ‘Smart Home’ product and services.
Location-based Ambient Intelligence Market in Brief
- The location-based ambient intelligence market is projected to register a CAGR of ~21% between 2019 and 2027. The location-based ambient intelligence market is projected to be driven by rapid increase in wearable devices and smartphones, globally.
- The global location-based ambient intelligence market is expected to reach ~US$ 497 Bn by 2027 from ~US$ 108 Bn in 2019. Increasing advancements in Internet of Things (IoT) is expected to boost the location-based ambient intelligence market.
- The location-based ambient intelligence market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, followed by Europe.
- North America remains the dominant leader in the global location-based ambient intelligence market, with revenues in 2019 estimated to be ~US$ 43 Bn. Extensive adoption of advanced networking solutions is exponentially driving the location-based ambient intelligence market.
- Asia Pacific is projected to see high growth in the global location-based ambient intelligence market during the forecast period. This is due to the increasing adoption of smartphones and wearable devices in the region.
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