Location-based Ambient Intelligence Market Size

Location-based Ambient Intelligence Market size is poised to reach USD 2998 Billion by the end of 2036, growing at a CAGR of 23% during the forecast timeframe, i.e., 2024-2036. In the year 2023, the industry size of location-based ambient intelligence was valued at USD 250 Billion. This boost is anticipated by the slated demand for linked devices that can be included in an ambient intelligence ecosystem on account of the rise of internet-connected IoT devices.

In addition, AI technology can evaluate the massive volumes of data produced by these gadgets and offer insights that could be applied to enhance the user experience and increase environmental responsiveness. According to a report, in the coming years, there will be over 29 billion Internet of Things (IoT) devices globally, nearly doubling from 15.1 billion in 2020.

Additionally, COVID-19 has brought attention to the significance of ambient intelligence applications in healthcare, including patient support and remote monitoring, as many patients were looking for remote healthcare services to prevent being exposed to the virus as a result of the social distancing measures being put in place. By offering remote medical care at a lower cost than in-person visits to healthcare institutions, affective computing contributes to the reduction of healthcare service costs.