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Global Smart Home Healthcare Market to Worth US$ 129.77 Billion by 2031: Astute Analytica

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New Delhi, April 17, 2023 (GLOBE NEWSWIRE) — The global smart home healthcare market was valued at US$ 18.89 billion in 2022. This growth is projected to continue in the coming years, with an estimated market size of US$ 129.77 billion by 2031, representing a compound annual growth rate (CAGR) of 24.3% during the forecast period of 2023-2031.

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The smart home healthcare is transforming the way healthcare and wellness are delivered to individuals. The industry is driven by the increasing demand for remote monitoring and personalized care, which is made possible by the integration of advanced technologies such as IoT devices, artificial intelligence, and big data analytics.

One of the prime drivers of the smart home healthcare market is its ability to provide personalized care to individuals in their homes. It allows healthcare professionals to remotely monitor an individual’s vital signs, medication adherence, and other health-related parameters in real-time, thereby reducing the need for frequent hospital visits. This technology also enables patients to actively participate in their own care, leading to better health outcomes.

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With an ageing population comes an increased demand for healthcare services, which often leads to higher costs associated with chronic diseases. In addition, as people age, they are more likely to experience declines in their health and functional abilities, which can require specialized care or assistance with activities of daily living. These factors are all contributing to the growing demand for smart home healthcare solutions that can help manage health and wellness while also reducing costs. According to a study conducted by the Centers for Medicare and Medicaid Services (CMS), home healthcare can save up to 30% in costs compared to hospital or nursing home care. The study found that the average cost of a hospital stay was approximately $30,000, while the cost of home healthcare services for the same condition was approximately $10,000.

The report notes that the smart home healthcare industry is still in its early stages, with many products and services yet to be launched. However, Astute Analytic expects that the market will rapidly develop over the next few years as companies race to meet the needs of an aging population.

The analysis further highlights a number of challenges that need to be addressed before the smart home healthcare market can truly take off. Firstly, there is a lack of standardization around product offerings and terminology. This makes it difficult for consumers to compare products and make informed decisions about what they need. Secondly, security and privacy concerns need to be addressed in order to build trust with consumers.

Segmental Analysis

  • By Connectivity: Wireless technology is expected to capture over 91% revenue share in the connectivity segment of the smart home healthcare market.
  • By Product: Testing, screening, and monitoring products are anticipated to capture over 77% revenue share in the product segment.
  • By Service: Skilled nursing services are anticipated to capture over 29% revenue share in the service segment.
  • By Application: Health status monitoring is anticipated to capture more than 79% revenue share in the application segment.

Infusion Therapy to Attract More than 24.5% Revenue of Global Smart Home Healthcare Market

Infusion therapy is a medical treatment that involves the administration of medications or fluids directly into a patient’s bloodstream through a catheter or needle. This therapy is often used for patients who require long-term medication administration or for those who have difficulty swallowing or absorbing medications orally. The use of infusion therapy has been growing in recent years due to its effectiveness and convenience, and it is now considered a crucial component of home healthcare.

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The infusion therapy segment is a lucrative revenue stream in the global smart home healthcare market for several reasons. The growing prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders has led to an increased demand for long-term medication administration. This has resulted in a greater need for infusion therapy services, which can be administered in the patient’s home by a healthcare professional.

The aging population is also a significant factor driving the growth of the infusion therapy segment. As people age, they are more likely to develop chronic conditions that require ongoing treatment. Additionally, many elderly patients prefer to receive treatment at home rather than in a hospital or clinic setting, which has further fueled the demand for home infusion therapy services.

The COVID-19 pandemic has accelerated the shift towards home-based healthcare services, including infusion therapy. The pandemic has made patients more reluctant to visit hospitals and clinics, and home infusion therapy services have provided a safe and convenient alternative.

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Nutrient and Diet Monitoring Gaining Momentum in Global Smart Home Healthcare market

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According to a report by Astute Analytica, the global market is expected to reach $ 129.77 billion by 2031, with the nutrition and diet monitoring segment contributing a 16.5% portion of this revenue. Consumers are willing to spend money on these devices and services, as they recognize the importance of nutrition and diet in maintaining their health.

The growing demand for nutrition and diet monitoring is being driven by an increasing awareness of the importance of healthy eating habits and the impact of nutrition on overall health. This has led to the development of various devices and technologies that can monitor and track an individual’s nutrition and diet, which has become a major segment.

Some of the major devices used for nutrition and diet monitoring in the smart home healthcare market include smart scales, smart food trackers, and smart kitchen appliances such as blenders and juicers. These devices are equipped with sensors and advanced analytics that can track a person’s food intake, monitor their weight, and provide customized nutritional advice.

The major consumer base for nutrition and diet monitoring devices in the smart home healthcare market includes individuals who are health-conscious and interested in maintaining a healthy lifestyle. This includes people who are trying to lose weight, manage chronic conditions such as diabetes or heart disease, or simply want to improve their overall health and wellbeing. The population of these consumers is large and growing, as more people become interested in health and wellness.

Top 4 Players Hold less than 20% Revenue of Smart Home Healthcare Market

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According to recent market research, the Global Smart Home Healthcare Market is highly competitive, with four major players dominating the market with a cumulative market share of close to 19.06%. Apple Inc is leading the market with over 6.54% revenue share, followed by Abbott Laboratories with a market share of 4.55%.

Apple Inc is the top player in the market, continuously updating its Watch and iOS to capture even more health metrics, including blood oxygen level, and creating a data sharing feature so users can share medical data with providers. The company has also launched a subscription-based streaming platform with exercise classes. Apple’s iOS and Watch teams continue to advance health and wellness measurement capabilities with its own sensors and algorithms.

Google, another major player in the market, has shifted much of its Google Health team to Fitbit and has announced intentions of migrating Fitbit to its Wear OS operating system. Fitbit has found success pursuing subsidy partnerships with insurers to drive sales.

The smart home healthcare market is majorly dominated by big companies with high product mix, resulting in highly competitive market conditions. The players are involved in the development of technologically advanced and user-friendly devices to attract and retain customers. To maintain their market share, companies are also investing in research and development to improve the accuracy and reliability of their devices, and expand their product offerings to include new health metrics and features.

Some of the Top Market Players Are:

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  • Apple Inc.
  • AT&T Inc.
  • BSH Home Appliances Group
  • Companion Medical
  • E & A Engineering Solutions Private Limited
  • F. Hoffmann-La Roche Ltd
  • Fitbit Inc.
  • General Electric Company
  • Health Care Originals.
  • Koninklijke Philips N.V.
  • Kul Systems
  • Medical Guardian LLC
  • Medtronic
  • Qualcomm Technologies, Inc.
  • Resideo Technologies, Inc.
  • Samsung Electronics Co. Ltd.

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About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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Artificial Intelligence

Huawei Wen Tong: 6G Needs to Embrace AI for Shaping Future Network

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SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — At the 6G Conference held in Istanbul, on September 24, 2024, Dr. Wen Tong, Huawei Wireless CTO, delivered a keynote speech on 6G standardization and innovation. With the release of the ITU-R 6G vision framework, the 3GPP will start 6G standardization in 2025. “6G is a new generation of mobile technology, not a simple upgrade of 5G, it should bring new value to users,” said Dr. Tong, “6G is a true intergenerational technological disruption. 6G standard, key technologies, and network architecture should be re-defined based on application scenarios and requirements from 2030 to 2040. 6G should not be another way to implement 5G. Instead, 6G should embrace the AI revolution with a quantum leap and generate new values for the consumers. In this way, 3GPP standards can truly realize the 6G vision and create greater value for the entire industry.”

Centered “6G Standardization Direction” and “6G Innovation Driving Force”, Dr. Tong shared important views on the future architecture, terminal development, and key technologies of 6G.
In terms of architecture design, 6G should go beyond Service-Based Architecture and move towards Application-Driven Network.
5G has already achieved market success and continues to evolve towards 5G-Advanced. 6G will not simply reuse 5G network architecture, without generational and fundamental innovations, which will limit the mobile industry’s aspiration and imagination to dive the innovation in the 6G era. 6G must have obvious cross-generational characteristics and technical breakpoint.
On the core side, reusing the 5G core network will hinder the innovation in AI. We should use Agentic-AI based technology to re-architect 6G Core that goes beyond 5G Service-Based Architecture and support the foundational capabilities of AI, Sensing and NTN , and thus evolve towards the Application Driven Network .
In terms of terminal evolution, 6G user device calls for a breakthrough to lead the success of the entire industry chain.
It is the law of the mobile industry to drive the evolution of the market with the pioneering technology. The 6G networks and 6G terminals must meet the requirements of consumers and vertical industries in the 6G market phase from 2030 to 2040.
Currently, smartphones are evolving to AI terminals to usher in the mobile AI era. In post-MBB era, breakthroughs in terminal technologies will be the key to the evolution of the mobile industry. Therefore, 6G user device calls for a breakthrough towards “Full-AI”, thus to drive 6G network upgrade and the success of the entire industry ecosystem.
In terms of technology development, AI will become a key enabler for 6G with network paradigm shifting.
Twenty years ago, the Internet was the enabler of the technology innovations. Mobile communications embraced the Internet and achieved great business success. Today, AI maybe the disruptive enabler of the latest technology innovations.
6G should embrace the AI revolution with a quantum leap. However, 6G networks should not be limited to generative AI, Artificial General Intelligence (AGI) and Embodiment-AI are the main directions of future AI development. Therefore, AGI should run through the whole process of sensing, reasoning, decision, and action of terminals, wireless networks, and core networks of 6G, to welcome the arrival of a new network paradigm.
At the end, Dr. Tong Wen emphasized the relationship between 5G and 6G: “The global 5G deployment is on the rise and evolving to 5G-Advanced, which not only meets the current requirements of operators, but also protects their investment. Therefore, 6G technologies should not overlap with 5G in technologies and market space. The specifications, technologies, and architecture of 6G must be based on the scenarios and requirements from 2030 to 2040. We should focus on true generational technology disruption, embrace the new opportunities brought by AI, expand the mobile industry in the next generation.”
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Artificial Intelligence

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence

Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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