The global Remote Home Monitoring Systems market size was valued at USD 3.8 billion in 2021 and is expected to register a CAGR of 18.3% during the forecast period 2022 to 2030.
Remote Home Monitoring Systems Market Overview:
The remote home monitoring system market is expected to grow due to several factors, including advantages of remote patient monitoring (RPM) in relieving pressure on healthcare resources, monitoring benefits of telemedicine and other remote patient monitoring services, technological advancements, aging population, and impact on The need for universal healthcare is increasing.
Some of the factors expected to negatively impact the growth of the remote home monitoring system market during the forecast period include regulatory apathy and challenges across regions, informal social media practices, and related healthcare fraud.
Remote Home Monitoring Systems market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Remote Home Monitoring Systems market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The Remote Home Monitoring Systems market research report is categorized based on type, applications and region.
Market Key Players:
Ooma, SimpliSafe, Bosch Security and Safety Systems, Tyco International, Control4, Google, Visonic, LOREX Technology, Honeywell, IBM, GE, Schneider Electric, Nortek Security & Control, Apple, Samsung, Siemens, and others.
- Utility meters
- Home appliances
- Security alarms
Geographically, the global Remote Home Monitoring Systems market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).
North America held 41.6% of the remote home monitoring systems market in 2021. Increased chronic disease incidence, the need for wireless and portable systems, and complex reimbursement schemes to reduce out-of-pocket costs are driving regional expansion. Increasing R&D for sensor-based patient monitoring systems further drives the regional demand for remote home monitoring systems. Most significant market players are headquartered in the region, which boosts the remote home monitoring systems market growth.
Due to the increased mortality rate and rising desire for low-cost treatment, Europe is likely to be the second most lucrative region over the forecast period. The rising need for in-house monitoring, supportive central data management systems and increasing accuracy and efficiency of remote patient monitors are significant growth drivers for the region.
Due to the presence of unexplored potential in India and China's rising remote home monitoring systems markets, Asia-Pacific is anticipated to have the highest CAGR throughout the projection period. Japan is anticipated to be an important revenue producer in the remote home monitoring systems market due to its large elderly population (65+).
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Remote Home Monitoring Systems Market report scope
CAGR of 18.3% during the forecast period.
Lights, Windows, Utility meters, Home appliances, Thermostats, Doors, Security alarms
Ooma, SimpliSafe, Bosch Security and Safety Systems, Tyco International, Control4, Google, Visonic, LOREX Technology, Honeywell, IBM, GE, Schneider Electric, Nortek Security & Control, Apple, Samsung, Siemens
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Key Takeaways from this Remote Home Monitoring Systems Report
- Estimate Remote Home Monitoring Systems market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Remote Home Monitoring Systems market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions
At what CAGR is the Remote Home Monitoring Systems market projected to grow in the forecast period 2022 to 2030?
What are the types of Remote Home Monitoring Systems market?
What are the applications of Remote Home Monitoring Systems market?
Who are the top players in Remote Home Monitoring Systems market?
Which application segment is expected to drive the growth of the Remote Home Monitoring Systems market in the next 5 years?
Which are the key deployments types adopting Remote Home Monitoring Systems market?