Massive Growth Predicted In Smart Home Healthcare Market

Massive Growth Predicted In Smart Home Healthcare Market

The healthy home trend is continuing to emerge and attract major smart home players, with a new report predicting significant growth in the global connected healthcare market.

According to Research and Markets’ new report, the smart home healthcare market is expected to grow at a CAGR of 38 percent between 2016 and 2022.

The global smart home healthcare market is comprised of devices related to healthy home trends such as indoor air quality (IAQ), accommodating disabilities and aging-in-place tech.

Growing consumer demand for smart, health-focused systems, a growing elderly population and more IoT-based devices are leading the growth. 

Among the growing sectors of the healthy home market are devices that can detect and prevent falls. They are predicted to improve at the highest rate of growth.

Tech that detects falls is predicted to grow at the higest rate by 2022.
Tech that detects falls is predicted to grow at the higest rate by 2022.

The two main restraints to market growth include privacy and security issues. In order to attract the mass market of homebuyers, health-focused IoT devices need to be secure.

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In the meantime, while the market continues to mature, builders can offer sensor-based systems that monitor the home for unusual behavior like falls while including systems that improve IAQ as standard. Including devices that improve IAQ as standard can be a great way to market a responsive, healthy home to your health-focused clients.

Significant growth in the smart home healthcare market is good news for builders hoping for new health-focused devices to offer their clients in the future. 

As this healthy home market continues to grow, major players will be attracted to create devices that respond to the trend and homebuyer awareness will improve.

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About The Author

Michael Black is a staff writer and content coordinator at TecHome Builder. He has a particular interest in new solar developments and smart energy systems and is always looking for the next smart home trend to cover. As the youngest member of the TecHome team, Michael brings a passion that keeps the team energized. He also is instrumental in leading our social media efforts.

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