Smart homes are coming in trend for the quality of life they enable. These homes have properties that assist residents in fulfilling their daily activities. As a concept, smart homes rely upon artificial intelligence. Evolving technology extends multiple breakthroughs in the development of context-aware homes, fully-equipped to undertake intelligent decisions based on automotive sensory responses. Moreover, this sensory-responsive template of homes can enable a comfortable and an independent living scenario for the geriatric population, and people with disabilities. A major benefit for this group of people is the opportunity to thrive in their individuality without being reliant on other people. A smart home comprises of an inter-related portfolio of software and hardware components. Through this, the system is able to monitor the living space and develop a routine based on the behavioural reactions of the residents.
The coming years are expected to experience increasing collaborations between health-care related endeavors and smart homes. Due to these reasons, the smart home health market is projected to undergo a sturdy growth in the forecasted period.
Adoption of Remote Patient Monitoring Increased Due to the Pandemic, Expected to Drive Growth of the Smart Home Health Market
Developing a behaviour-based routine enables smart homes to detect crisis and take automated actions to ensure the resident’s safety. New developments in the technology for smart homes has given an opportunity for at-home health status monitoring that enables detection and prevention of various illnesses. Other medicare benefits include diet or nutrition monitoring and memory aids. The world has already undergone a complete neutralization towards voice and home assistants like Alexa, Apple Home Pods, Google Nest, and Chromecasts. These also include wearable devices that can easily track glucose and blood pressure levels. Researchers are working on an accelerated rate to sync monitoring intelligence with executive hardware devices in order to deliver an overall experience of smart home care.
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As instances of chronic illnesses increase, patients are continuously availing at-home services. This also aids cost-reduction from monitoring and rehabilitation expenses at healthcare institutes. Furthermore, onslaught of the COVID-19 pandemic has garnered tremendous development in the realm of AI application for healthcare activities. These advancements include videoconferencing with doctors, monitoring patients remotely, and online purchasing of medical equipment. Due to these reasons, smart homes are estimated to become the primary care medium in the coming future.
Asia-Pacific Region Projected to Experience the Highest Growth Rate for the Smart Home Health Market
The region has been increasingly investing in digital transformations across the healthcare sectors. Development of evolving artificial intelligence is being prioritized with the aim of modernizing the healthcare systems. In Asia, countries like Taiwan, South Korea, and Singapore own high data connectivity and high-income households. Due to this, a large-scale permeation of smart homes is anticipated.
Major companies in the market Google, Apple, General Electric Company, Samsung Electronics, F. Hoffmann-La Roche, Companion Medical, Proteus Digital Health, Hocoma, Honeywell International, Seimens Electric, Medical Guardian, Medtronic and VitalConnect.
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