Market Research Future (MRFR) has published on the “Global Location-based Ambient Intelligence Market”
MRFR recognizes the following companies as the key players in the global location-based ambient intelligence market— Infosys Limited (India), Huawei Technologies Co., Ltd. (China), SAMSUNG (South Korea), ABB (Switzerland), Honeywell International Inc. (U.S.), Medic4all (Australia), Assisted Living Technologies, Inc. (U.S.), Vita Group Holdings Limited (U.K.), Johnson Controls. (Ireland), Chubb Fire & Security (U.K.), Doro AB (Sweden), Nokia (Finland), Google (U.S.), HTC Corporation (Taiwan), HTC GLOBAL SERVICES (U.S.), Schneider Electric (France), Siemens (Germany)
The global Location-based Ambient Intelligence market is accounted to register a CAGR of 21.90% during the forecast period and is estimated to reach USD 1075.2 Billion by 2032.
The technologies that use location-based services and data to create intelligent, personalised environments are what essentially drive the location-based ambient intelligence market. Applications are featured that enable location-based recommendations, targeted advertising, and enhanced user experiences in sectors like retail, healthcare, and transportation.
The global location-based ambient intelligence market has been segmented based component, technology and end user.
On the basis of component, the market is segmented into virtual reality, hardware, software, wearables, mhealth, smart homes, lighting controls, security and access control, hvac controls, entertainment controls, and others. Virtual reality segment dominated the global market in 2022. This is due to the rise in interest in location-based ambient intelligence.
Based on technology, the global location-based ambient intelligence market has been segmented into bluetooth low energy, RFID, sensors ambient light sensor, software agents, affective computing, nanotechnology, biometrics, and others. Affective computing segment dominated the global location-based ambient intelligence market in 2022. Its ability to design systems that precisely discriminate and understand human emotions has increased as a result of the development of more potent CPUs, sensors, and machine learning algorithms.
Based on end user, the global location-based ambient intelligence market has been segmented into residential, retail, healthcare, industrial, office building, automotive, and others. Healthcare segment dominated the global market in 2022. Globally, interest in sensor applications, ambient aided living (AAL) systems, and remote patient monitoring (RPM) is growing.
The global Location-based Ambient Intelligence market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Location-based Ambient Intelligence market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Location-based Ambient Intelligence market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Location-based Ambient Intelligence market comprises of Middle East, Africa, and Latin America.
The North America location-based ambient intelligence market held a 45.80% market share in 2022. The presence of these businesses and rising consumer awareness of energy conservation are what are driving the need for smart home products in the area. The International Energy Agency (IEA) forecasts that American energy infrastructure spending will increase by 10.0% in 2021. Additionally, over the past few years, the region's demand for smart energy has expanded significantly, drawing investors to the energy management sector.
Moreover, the location-based ambient intelligence market in Europe had a substantial market share in 2022. This is due to the increased demand for connected goods and services as well as the expanding use of smart home technologies. Customers in the region are generally tech aware, which is increasing demand for cutting-edge goods. Leading tech companies with European headquarters are heavily investing in the development of ambient intelligence systems, including Google, Apple, and Microsoft. As a result, the local market is growing more.
Additionally, between 2023 and 2032, it is anticipated that the Asia Pacific location-based ambient intelligence market would expand significantly. Increased 5G network deployment is anticipated to fuel market expansion in the region. In Asia-Pacific, edge installations are expanding four times as quickly as digital core initiatives. The forecasted worldwide infrastructure edge footprint by 2028 is 40.0 gigatons, with 63.0% of the entire support coming from the business, manufacturing, energy, healthcare, and transportation sectors.
Furthermore, the rest of the world's location-based ambient intelligence market is divided into the Middle East, Africa, and Latin America. The Latin American location-based ambient intelligence market is growing as businesses utilise location-based technologies to provide customised experiences and targeted advertising. The retail, tourist, and transportation sectors are implementing these technologies to raise operational efficiency, engage customers more, and offer location-based advertising, navigation, and smart city services.
Key Findings of the Study