Global Smart Home Healthcare Market – Analysis and Forecast (2018-2024)
The global smart home healthcare market is predicted to grow at 33.0% CAGR during the forecast period with the market size reaching USD 35.6 billion by 2024. Different technologies such as wireless communication, a cellular network, and others as are majorly contributing to the smart home healthcare market size. The market has witnessed significant demand for the cellular network over the last few years due to its easy approachability by consumers and easiness of usage. Smart home healthcare is designed to help in treatment diagnosis, care in the home. It helps in improving the communication between the caregivers and healthcare providers. Moreover, many health conditions, especially chronic diseases, could be monitored and treated in a home equipped with necessary smart home products. Download Free Report Sample At: https://www.vynzresearch.com/healthcare/smart-home-healthcare-market/request-sample The mounting demand for personalized healthcare, expanding demand for progressive smart home healthcare technologies, and escalating demand for mHealth technologies are the key factors leading to the growth in the smart home healthcare market, globally. Owing to the mounting demand of personalized healthcare and escalating demand for advanced smart home healthcare has resulted in increased demand of mHealth technologies and internet of things based monitoring systems, which further improve communication between patient and healthcare providers. Some of the other key factors driving the growth of the industry are expanding the geriatric population, escalating adoption of cloud technology in healthcare, and mounting disposable income. For instance, according to the World Health Organization (WHO), globally in 2010 approximately 524 million people were aged 65 years and older and is expected to reach 1.5 billion in 2050. Geographically, North America is the largest smart home healthcare market as the region the geriatric population is increasing. For instance, according to the U.S. Census Bureau, in 2012 approximately 43.1 million people were aged 65 years and older in the U.S. and is expected to reach 83.7 million in 2050. In addition, enhanced healthcare infrastructure, the mounting occurrence of chronic and lifestyle associated diseases, augmented alertness about inventive and advanced applications of smart home healthcare technologies and escalating healthcare spending is also fueling the growth of the North American smart home healthcare market. For instance, according to the Centers for Disease Control and Prevention (CDC) in 2012, approximately 117 million people in the U.S. had one or the more chronic conditions. Asia-Pacific is observed to witness significant growth in the smart home healthcare market during the forecast period, as the region comprises of a large population, and upsurge IT investments in the healthcare industry. Moreover, expanding the geriatric population, escalating awareness about advanced and innovative applications of smart home-based wireless sensors and mounting occurrence of chronic and lifestyle associated diseases are also facilitating the significant growth of Asia-Pacific smart home healthcare industry. Read More: https://www.vynzresearch.com/healthcare/smart-home-healthcare-market Market players in the smart home healthcare industry are investing capital to develop technologically advanced systems. In March 2018, Royal Philips partnered with Samsung Electronics Co. Ltd. to associate Samsungu2019s ARTIK IoT platform to the Philips HealthSuite Digital Platform. It allows to safely access and shares information with Philipsu2019 cloud platform. Honeywell International Inc., Schneider Electric SE., Qualcomm Incorporated, Siemens AG, General Electric Company, Koninklijke Philips N.V, AT&T Inc., and Medical Guardian LLC are some of the key players offering solutions for smart home healthcare. Audio Source: www.bensound.com About VynZ Research VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. Contact Manager: Client Care Toll-Free: 18882533960 Email: kundan@vynzresearch.com Website: www.vynzresearch.com
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